Redemption Fee Adjustment Notice
Nov 3, 2020
Steaker continues to improve services and profits for the users. Therefore we’re adjusting our redemption policy.
For all projects (plans) applied after 15:00 (UTC+8) on November 4th, 2020, with the exception of fixed interest projects (i.e. other than USDⓢ Flexible Project and USDⓢ Fixed-Rate Project), a redemption fee will be charged when redeeming. According to the following table, the fee will be charged as a percentage of the settlement amount (i.e. the principal less the incentive fee plus the interests on the day of redemption).
When the value of a single transaction exceeds the following amounts, the corresponding discounts apply after the maturity date:
(Note: The discounts do not apply if redeemed before maturity)
User A applied for USDⓢ Variable-Rate Project—1 year. The single transaction value is 50,000 USDⓢ. After subtracting the incentive fees, the annualized return rate is 12%, with a total earning of 6,000 USDⓢ. The redemption fee for user A after maturity is: