In Australia, Beaufort Fiduciaries Pty Ltd (ACN 162 139 871, AFSL No. 545124) provides wholesale clients with access to derivatives where the underlying assets are digital assets. Derivatives are complex, regulated financial products that are difficult to understand and may not be suitable for inexperienced investors. For eligibility, terms and conditions click here. Krak Pay is offered by Bit Trade Australia Pty Ltd (ACN 163 237 634), Authorised Representative of Flexewallet Pty Ltd (AFSL 448066). This information is general in nature and does not take into account your personal objectives, financial situation or needs. You should consider whether it is appropriate for you and read the relevant disclosure documents before making any decision.

Flexline auto-renewals explained

Auto-renewal lets an active Flexline term loan renew automatically at maturity, rolling into a new loan of the same term at the prevailing fixed rate instead of closing out. It's designed for clients who want to keep their financing running without manually re-opening a loan.

Auto-renewal is optional and off by default. You can set it per loan, and it applies to fixed-rate term loans only.

How do auto-renewals work?

When you enable auto-renewal on a loan and set a rate ceiling, Kraken checks your loan at its maturity date:

  • If the prevailing fixed rate is at or below your rate ceiling and your collateral is sufficient, the loan renews automatically. The maturing loan closes and a new same-term loan opens in a single step, carrying forward the remaining loan size.
  • If the rate is above your ceiling or your collateral isn't sufficient, the loan does not renew and is repaid normally from your main wallet.

The rate ceiling is the highest APR you're willing to accept when a loan renews. It's required when you turn auto-renewal on. If the prevailing rate at maturity is above your ceiling, the loan is repaid instead of renewed, so you're never rolled into a rate you didn't agree to.

When opening a Flexline term loan on Kraken Pro Web or the Kraken Pro App, turn on Auto-renew in the order form, enter your rate ceiling, and confirm the loan. You can also enable auto-renewal on a loan you already have any time before maturity.

Yes. You can turn auto-renewal off at any time before maturity, and the loan will close normally when it matures.

There's no separate auto-renewal fee. A renewed loan is priced like any new Flexline loan, so a one-time origination fee applies on each successful renewal and interest fees apply over the new term.

Yes. You'll receive an email in advance of a scheduled renewal, and another email confirming whether the renewal succeeded or failed.

In your Loan Centre. When a loan renews, the original loan closes with a Loan matured status and the new loan appears with its own ID, linked to the loan it replaced, along with its APR, rollover history and fees.

Need more help?