CoinLoan, a trailblazer in crypto-backed lending, has unveiled a new feature — instant partial loan repayments. Customers borrowing against crypto assets can pay off their loans with flexible amounts and without additional fees. The interest-only model works for current and new users. They can repay as much or as little as they like in the denominated currency of their loans.
CoinLoan is the only provider of crypto products licensed in the EU, and this novelty is an important leap forward for crypto asset management. The feature has been added to the web platform, and it will soon appear in the company’s mobile app.
Previously, CoinLoaners had two options — a fixed schedule of installments and early repayment in full. The new scheme accommodates customer wishes. It reflects the company’s dedication to the unceasing improvement of user experience.
Compared to other lending platforms, CoinLoan provides unparalleled freedom. Most of its rivals charge borrowers handsomely for early repayment. Now, borrowers can decide how much or how little to pay per month without worrying about penalties. This degree of flexibility is on par with bank loans. By making partial repayments, customers can manage their finances wisely.
Evgenii Zomchak, Product Owner of CoinLoan, said:
“We are very pleased to be able to offer our customers this new feature on our loan offering. We continuously look to innovate our product for the benefit of the user and the wider crypto community, and this development will help our loan customers with greater flexibility on repayments. The CoinLoan team has decades of experience in finance and technology worldwide, and we are looking to bring bank-grade services to the crypto industry.”
CoinLoan is the only EU-licensed crypto platform. Its functionality is multifaceted: loans against cryptocurrencies are offered alongside interest accounts with higher-than-average APY and exchange services. Individual and corporate clients enjoy bank-level security guarantees.