P2P Loan Calculator at LendaBit.com
All platform members are welcome to use P2P Loan Calculator, a handy instrument for automated calculations, which gives concise visuals to help determine all necessary variables. Most importantly, the instrument was designed for informative purposes, to get a glimpse at how the borrowing algorithm is executed, thus only foremost options/parameters are included. But it is fully operational and borrowers can apply for loans in no time. Here is a detailed instruction explaining all available features:
- Go to LendaBit.com. The LendaBit home page contains the Loan Calculator for borrowers (by default).
- At LendaBit, the minimum and maximum loan amounts are 50 USDT and 200 000 USDT, accordingly. Collateral Amount is automatically adjusted when the borrower chooses the loan amount in Get Loan. The borrower should remember that collateral is twice the amount of the lent loan. If, for instance, you enter 1000 USDT into Get Loan, the Loan Calculator will automatically estimate the Collateral Amount totaling 0.525 BTC.
- Loan Term stands for loan duration and can be chosen by using a scrollbar (from 1 month to 1 year).
- Daily Rate (%), Annual Interest Rate (%), Interest Amount (in USDT) are auto-adjusted after setting values to Get Loan and Loan Term. Daily Rate is the prescribed amount (%) of pay for the loan per day. In line with this, Annual Interest Rate is the interest rate (%) for a whole year (annualized). Finally, Interest Amount stands for the value expressed in USDT.
As you can see, the Loan Calculator is intuitive and easy-to-use. Check its functionality and make your choice if you agree to the chosen loan conditions.
Starting from the very inception of LendaBit.com, Alex Maznyi has become an inseparable team player by strategizing and monitoring the development of the P2P lending platform. Alex has been in the finance management and risk assessment for about 10 years and he perfectly knows that blockchain and cryptocurrencies will eventually drive out the old-fashioned financial institutions and bureaucracy.