Celsius Loan FAQs

Here are answers to some of the most frequently asked questions about Celsius crypto-backed loans.

Last week the Celsius loans team took over our Twitter to answer your questions. Here’s a roundup of some of the most commonly asked questions and a recap of some of the topics covered during our Twitter AMA.

Where are Celsius loans available?

Celsius loans are not available in all locations. If you have the Borrow option available in your Celsius mobile app, Celsius loans should generally be available in your location.

When will you be able to offer loans in more locations?

Our team is working around the clock to provide crypto-backed loans in more locations. Our goal is to make our loans as accessible as possible, which includes expanding to new jurisdictions. We hope to have an update for the community soon.

Can I take a loan against multiple coins as collateral?

Currently, Celsius only offers loans against one asset at a time. You can take out more than one loan at the same time, but each loan needs to be secured with one coin type as collateral. Multi-collateral loans are in development and something we hope to offer soon.

In what currencies can a loan be issued?

You can take a loan in USD or in one of the following stablecoins: USDC, USDT, TUSD, GUSD, PAX, DAI. Some coins are not available in all locations.

How do I repay my loan? Can I repay a portion to release some of the collateral?

Celsius provides balloon loans, which means you pay interest every month and the principal amount is paid back in one payment when you close the loan. We’re also working on adding this option to our platform. We hope to have some more information to share soon!

How do I close my loan?

You can close your loan directly through your Celsius mobile app when you pay your principal and any remaining interest in stablecoins. If you’d like to complete your payments in fiat through a wire transfer, you will need to reach out to our team directly by emailing loans@celsius.network when you’re ready to close your loan.

Can I close a loan early (before the maturity date)?

Yes, you can close a loan at any time without paying any fees. If you close your loan before six months, you will still need to pay for a full 6 months of interest.

To see more questions and answers from our Twitter AMA, check out the hashtag #AskCelsiusLoans on Twitter.

How to: Borrow Funds with Celsius 📲

At Celsius, we make it fast and easy to get you the cash you need at rates you deserve! Use the resources below to learn more about how to borrow against your digital assets and what the loan process is like in the Celsius app:

Celsius Loan Rates as of June 15, 2021

For current rates, please visit https://celsius.network/borrow-dollars-using-crypto-as-collateral

Additional resources:

If you have additional questions or require further assistance, you can reach out to our lending team directly at loans@celsius.network.

About Celsius

Celsius is a democratized reward-earning and crypto lending platform accessible via a mobile app. Built on the belief that financial services should only do what is in the best interests of the community, Celsius is a modern platform where membership provides access to curated financial services that are not available through traditional financial institutions. Crypto holders can earn rewards by transferring their coins to their Celsius account and can borrow USD or stablecoins against their crypto collateral at interest rates as low as 1% APR.

Download the Celsius app and start earning rewards on your crypto today!

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