Making a partial loan repayment allows you to pay down a portion of your outstanding balance without closing your loan. This can help reduce interest costs and lower your Loan-to-Value (LTV) ratio, giving you greater flexibility in managing your loan.
What Currencies Can I Use for Partial Repayments?
USDC: Use your USDC balance directly from your Transaction Account.
USD (Wire Transfer): You can make a bank wire in U.S. dollars using the repayment instructions provided in your account.
What Are the Minimum Repayment Amounts?
USDC: Minimum of 100 USDC. Your loan must remain above $500 after the repayment.
Wire Transfer (USD): Minimum of $1,000 USD. We do not support repayments that would reduce the loan balance below $500.
What Are the Benefits of Making a Partial Repayment?
Lower LTV: Reduces the risk of automatic liquidation by increasing your collateral buffer.
Reduced Interest Charges: Your repayment first covers any accrued interest and fees. The remaining amount reduces your loan principal, lowering the daily interest charged.
Flexible Timing: You can make partial repayments whenever you choose.
How Do I Make a Partial Repayment?
To Repay in USDC:
Log in to your Ledn account.
Go to your Loans page.
Click on Repay, then select USDC as your payment method.
The system will automatically deduct the funds from your USDC Transaction Account.
To Repay via Wire Transfer (USD):
When submitting your wire transfer, please include your Loan ID(s) and repayment instructions in the Reference/Memo field. This is required so we can correctly apply your repayment in a timely manner. You can find your Loan ID in the details page of your loan and in the loan table.
Log in to your Ledn account.
Go to your Loans page and click Repay.
Select Wire Transfer as the payment method.
You'll receive the banking details required to complete the wire from your bank.
Do not click “Confirm” on the repayment modal unless you are repaying the full loan balance. Confirming the transaction prematurely may result in the system treating the payment as a loan closure.
If you click to confirm by mistake, or once your wire has been submitted, please visit our Help Center and submit a request to notify our team.
Additional Details
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Fees:
USDC repayments: No fee.
Wire transfers: Please note that for USD partial repayments made via wire transfer, our receiving bank charges a $6.11 fee, which is passed through and debited from the amount received.
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Processing Times:
USDC: Processed instantly.
Wire transfers: May take several business days depending on your bank.
No Repayment Limits:
There are no limits on how often you can make partial repayments. However, scheduled or recurring payments are not currently available.
Important: Partial repayments are final and cannot be reversed. Always double-check the amount and details before submitting.