Since the assets from the Nexo Booster are collateralized in a Nexo credit line, the outstanding amount accrues interest just like any other credit on our platform. Your interest rate depends on your Loyalty tier and can be as low as 0% if you’re a Platinum user and your LTV is below or equal to 20%.
You also get charged a one-off Booster fee that can range from 1-3% and depends on the LTV of your booster transaction:
Up to 50% LTV: 1% Booster fee
50-60% LTV: 2% Booster fee
60-70% LTV: 3% Booster fee
The Booster LTV is calculated as the ratio between your outstanding credit and the value of the collateral used for the transaction.
Note: If you have a pre-existing credit line, you will accrue interest on the total amount of your previous credit and booster credit together.