Premier Loans: Features, Benefits, and Application Guide
[Estimated Reading Time: 3 mins]
This guide provides an overview of Premier Loans on Bitget, including their features, benefits, and the application process. Designed for institutional and VIP users, Premier Loans allow you to borrow large amounts of cryptocurrency while leveraging your existing holdings as collateral.
What are Premier Loans?
Premier Loans is a customized crypto loan service for institutional and VIP users, offering access to high-value loans using crypto assets as collateral. This enables users to unlock liquidity without selling their holdings, improving capital efficiency for trading, staking, or investment opportunities.
Key Features
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High Loan Limits: Borrow up to $10 million, with no upper limit for eligible users.
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Competitive Interest Rates: Enjoy lower rates tailored to your loan tier.
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Flexible Repayment Terms: Choose from loan durations of 30, 60, 90, 180, or 365 days.
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Multi-Asset Support: Over 300 cryptocurrencies are available for borrowing and collateral.
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No Early Repayment Penalty: Repay your loan at any time without extra fees.
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No Liquidation for Late Payments: Avoid forced liquidation due to late repayments.
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24/7 Collateral Monitoring: Advanced risk management ensures security.
Who Can Apply for Premier Loans?
Premier Loans are available exclusively to VIP level 3 or higher users on Bitget.
If you are not a VIP user or have a VIP level below 3, you can contact Bitget Support to apply.
Loan Requirements
To request a Premier Loan, you must meet the following conditions:
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The minimum first loan amount is $1,000,000.
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Your total asset value in your Bitget account must meet the minimum LTV requirement of 70%.\
How to Apply for a Premier Loans?
Step 1: Navigate to Premier Loans
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On the web: Click Earn in the top navigation bar, then select Premier Loans.
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On the app: Tap the user icon in the top-left corner, select Earn from the quick access section, and then tap Premier Loans.
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Click Quick Apply to start your application.
Step 2: Provide Loan Information
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A Bitget account manager will contact you to confirm loan details.
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Once approved, your order ID will be sent via email, Telegram, WhatsApp, or WeChat.
Step 3: Enter Your Order ID
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Go to the Premier Loans page and enter your order ID to proceed.
Step 4: Confirm Loan Details and Collateral
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Verify your loan amount, collateral type, and repayment terms.
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The system will transfer your collateral to the collateral account, and the loan will be disbursed.
How to Repay Your Premier Loan on Bitget?
Step 1: Access Your Loan Dashboard
1. Navigate to the Premier Loans section.
2. Click My Loans to view your active loans.
Step 2: Select the Loan for Repayment
1. In the Ongoing Loans page, go to the Current Loans tab.
2. Choose between Flexible or Fixed loan types.
3. Locate the loan you want to repay.
Step 3: Complete the Repayment
1. Click on the loan details to open the repayment options.
2. Review the outstanding balance, including interest.
3. Confirm the repayment and submit the transaction.
Loan Interest and Repayment
How is Interest Calculated?
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Interest accrues hourly and is calculated as: Interest = Principal × (Daily Interest Rate ÷ 24) × Loan Duration (in hours)
What is LTV (Loan-to-Value Ratio)?
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LTV = (Loan Amount to be Repaid + Interest to be Repaid) ÷ Total Collateral Value
Bitget uses three LTV thresholds for risk control:
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Initial LTV: Determines the maximum loan amount.
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Margin Call LTV: If reached, you will receive a margin call notification to add more collateral.
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Liquidation LTV: If reached, the system will liquidate your collateral to repay the loan.
Early Repayment
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You can repay at any time without penalty.
Late Repayment Consequences
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A 200% penalty interest rate will apply if repayment is overdue.
Liquidation and Collateral Risks
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If LTV exceeds the liquidation threshold, your collateral may be sold to cover the debt.
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If the collateral value is insufficient, losses will be covered by the Crypto Loans Insurance Fund.
FAQs
1. Who can apply for Premier Loans?
Only VIP level 3+ users can access Premier Loans. Non-VIP users must contact Bitget Support for eligibility.
2. What are the supported loan terms?
Premier Loans support terms of 30, 60, 90, 180, and 365 days.
3. Can I repay my loan early?
Yes, you can repay at any time without penalty.
4. What happens if I miss a repayment?
A 200% penalty interest rate will apply to overdue portions of the loan.
5. What is the minimum loan amount?
The minimum first loan amount is $1,000,000.
6. How do I check my loan status?
Log in to Bitget, go to My Loans, and track your active loans.
7. What assets can be used as collateral?
Bitget supports over 300 cryptocurrencies for collateral and borrowing.
8. Will I be liquidated if I miss a repayment?
No, late repayments do not result in liquidation. However, your LTV must remain below the liquidation threshold.
9. What if my collateral value drops?
You will receive a margin call if your LTV exceeds the margin call level. If no action is taken, collateral liquidation may occur.
10. Can I adjust my collateral after borrowing?
Yes, you may add more collateral if needed to maintain a healthy LTV ratio.
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