In order to apply for a loan in USD, you will need to do the following:
1. Open the app ( in case you don't have a wallet already please follow our guide on how to set up your Celsius wallet ).
2. Tap on the Celsius logo at the bottom right corner of the screen.
3. Tap on the Borrow $ option. Here you will be able to request a loan and to also use the loan interest calculator to simulate how your loan will behave.
4. Tap on the "Apply for a loan" button.
5. Tap on the "Borrow Dollars" button.
6. Here you will be able to choose the loan amount that you will be paid out.
Tap on the amount right to the $ sign in the middle of the screen in order to edit this number.
7. Once you entered the desired amount tap on the "Choose collateral" button.
8. Tap on the desired collateral ( in our case ETH ).
In case you don't have enough collateral for a loan you will be able to see how much additional collateral is needed for your loan.
9. Tap on the desired interest rate for your loan. The more collateral you have the better interest rates you will be able to get for a loan.
10. Choose the term of a loan. You will be able to choose between 6 and 36 months.
After you choose term tap on the "Bank account" button.
11. Enter your bank details.
- Bank Location ( has to be selected from the list of countries )
- Bank name
- Bank City
- Bank Street and Number
- Bank Zip
- Account Number ( IBAN )
-SWIFT ( Bank Identifier Code )
- Account Type ( savings or checking )
If you don't know some of the information please contact your bank.
Please make sure that all the info in this form is correct. Once you doublecheck everything, tap on the "Continue" button at the bottom of the page.
12. If everything is alright, on the next page you will see all your loan details. This screen contains the following information:
- Loan amount
- Estimated Collateral
- Annual Interest Rate
- Monthly Interest
- Total Interest
- Total of Payments
- Number of payments
- Margin call for the specific coin that you chose as collateral ( If the price of the coin drops below this amount you will receive a notification to review your borrowing options ).
- Liquidation price of the coin you're using as collateral ( If the price of the coin drops below this amount we will sell some of your collateral to cover the margin ).
Note that you can receive up to 30% (percentage varies depending on your loyalty level) off your interest payment by using Celsius Token (CEL).
Read more about Celsius Token here.
After you check all of the information about your loan tap on the "Continue" button at the bottom of the page.
13. The next page will take you to the borrowing Terms and Conditions.
You can open and close each of these categories by tapping on the title.
After carefully reading through these categories you can check the "I have read, understood and agree to the above mentioned in sections ..." checkboxes.
At the bottom of this page, you will find the "Download" button. This allows you to download the borrowing Terms and Conditions to your phone in a PDF format.
Below the download option, there's a "Request loan" button. Tap on it when you're sure that you understand the Celsius Loan Terms and Conditions.
14. Enter the required verification ( your 2FA or PIN ).
15. That's it! You've successfully applied for a loan.
In case you want to apply for a loan in stablecoins please follow our guide here.
If you need any additional help or if you have any questions, feel free to contact us at app@celsius.network.