The redemption method for Echobit Earn products depends on the specific product type and applicable product rules.
In general:
- Flexible Earn: Can be redeemed according to the applicable product rules.
- Fixed Earn: Matured products can be redeemed according to the instructions displayed on the page. For products that have not yet matured, the available redemption method and earnings treatment depend on the specific product rules displayed on the product page.
Before redeeming, confirm the product type, position amount, interest accrual status, maturity date, and redemption rules.
Important: Redemption rules may vary by Earn product. Please refer to the information currently displayed on the applicable product page.
Step 1: Go to the Earn Page
Web: Log in to your Echobit account and go to the Earn page.
App: Open the Echobit app, tap Earn, and enter the Earn page.
Step 2: Go to Earn Positions
On the Earn page, click View Earn Positions to enter the Earn positions page.
Step 3: Select the Earn Product You Want to Redeem
On the Earn positions page, select the relevant product type.
- Flexible: View and manage Flexible Earn products.
- Fixed: View and manage Fixed Earn products.
Find the Earn product you want to redeem and check the corresponding position amount and current status.
Step 4: Redeem the Earn Product
How to Redeem Flexible Earn Products
- Under Flexible, find the Earn product you want to redeem and click Redeem. Enter the amount you want to redeem on the redemption page.
After confirming that the redemption amount and other information are correct, click Confirm Redeem.
- Follow the instructions displayed on the page to complete the redemption. For currently supported Flexible products, the redeemed principal will be returned to the corresponding Spot Account according to the applicable product and account rules.
Note: If you redeem before the end of the current interest calculation cycle, the earnings for that cycle may be affected. Please refer to the current product page for the applicable earnings treatment rules.
How to Redeem Fixed Earn Products
The redemption process for Fixed Earn products differs from Flexible Earn and depends on the current product status.
Status 1: The Product Has Not Started Accruing Interest
If a Fixed Earn product has not yet reached its Interest Start Date, redemption under the current rules may require manual review.
Note: If the page indicates that manual review is required, follow the instructions displayed on the page and wait for the request to be processed. The actual processing method and time are subject to the platform's applicable rules and page instructions.
Status 2: The Product Has Started Accruing Interest but Has Not Reached Maturity
If a Fixed Earn product has started accruing interest but has not yet reached the Maturity Date, whether early redemption is available depends on the specific product rules.
For products that support early redemption, redeeming early may result in the deduction of all interest accrued to date. For products that do not support early redemption, you must hold the product until maturity and redeem it according to the applicable product rules.
Please refer to the latest rules displayed on the corresponding product page for the specific early redemption conditions and interest treatment.
Important: Early redemption may result in the deduction of accrued earnings. Carefully review the information displayed on the page before confirming the redemption.
How Can I Confirm That My Redemption Was Successful?
After completing the redemption, return to the Earn / Earn Positions page to check the product status and position amount.
If the redemption is successful, check the information displayed on the page to confirm:
- Whether the product position amount has changed;
- Whether the redeemed amount is correct;
- Whether the assets have been returned to the corresponding account;
- Whether the earnings and product status have changed.
If the status has not been updated immediately, refer to the final status displayed on the page and follow any instructions provided by the platform.
Before Redeeming an Earn Product, Check the Following Information
- Confirm the Product Type
Confirm whether the product is Flexible or Fixed.
- Confirm the Position Amount
Check your current position amount and the amount you plan to redeem.
- Confirm the Interest Accrual Status
For Fixed Earn products, check whether the current time has reached the Interest Start Date.
- Confirm the Maturity Date
For Fixed Earn products, pay particular attention to the Maturity Date.
- Confirm the Early Redemption Rules
If a Fixed Earn product has not reached maturity, check whether early redemption is supported and how early redemption may affect your earnings.
- Early Redemption May Affect Your Earnings
For Fixed Earn products that have started accruing interest but have not yet reached maturity, early redemption may result in the deduction of all accrued interest under the current product rules.
- Flexible Earn Products May Also Have Interest Cycles
Although Flexible Earn products generally do not have a fixed lock-up period, they may still have specific interest calculation cycles. Redeeming before the end of an interest cycle may affect the earnings for that cycle.
- Refer to the Product Page for the Latest Rules
APR, interest calculation methods, payout methods, redemption rules, and other product conditions may change based on the specific product. Please refer to the information displayed on the product page when performing the operation.
Frequently Asked Questions
Can Flexible Earn Be Redeemed at Any Time?
Flexible Earn can generally be redeemed according to the applicable product rules. However, the specific redemption conditions and earnings treatment are subject to the information currently displayed on the product page.
Can I Redeem a Fixed Earn Product Before Maturity?
Whether early redemption is supported and how it is handled depends on the specific product rules. Current products may have different conditions, such as manual review before interest accrual starts or deduction of all accrued interest if redemption occurs after interest accrual has started but before maturity. Please refer to the actual instructions displayed on the product page.
Will I Lose Earnings If I Redeem a Fixed Earn Product Early?
Under the current product rules, if a Fixed Earn product has started accruing interest but has not yet reached maturity, early redemption will deduct all accrued interest. Please refer to the information displayed on the product page when performing the operation.
Where Will My Assets Be Returned After Redemption?
For currently supported Flexible Earn products, redeemed principal will be returned to the corresponding Spot Account according to the applicable product and account rules. Please refer to the redemption page for the actual destination account and processing status.
What Happens When a Fixed Earn Product Matures?
When a Fixed Earn product reaches maturity, it will be automatically redeemed, and the principal and applicable maturity earnings will be returned to your Spot Account. The specific maturity and fund handling rules may vary by product. Please refer to the latest information displayed on the corresponding product page.
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