News

Redemption Fee Adjustment Notice

Nov 3, 2020by Steaker

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)

Example:

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:

(50,000+6,000)*0.15%*0.6=50.4 USDⓢ


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