Verified against saltlending.com on 6 Sep 2026. Terms change; confirm before borrowing.
How SALT works
SALT is a long-running centralized lender. You pledge native bitcoin and borrow USD against up to 70% of its value on a fixed-rate term of 1, 3, or 5 years. Collateral is held in segregated custody via Fireblocks and qualified custodians. SALT also offers optional features like Stabilization (auto-convert to USDC) to manage downside.
Rates & fees
Per SALT's current Rates & Fees page, APR runs 7.49%–10.50%, tiered by LTV and term: 7.49% at 30% LTV, 8.75% at 50% LTV and 10.50% at 70% LTV on 1-year terms, with 3- and 5-year fixed terms priced higher within that range. SALT states this APR is inclusive of interest and origination fees. We use the 8.75% 50%-LTV 1-year rate as the representative figure. There's 0% origination, 0% prepayment, and 0% custody/withdrawal fees, but a 5% liquidation fee if a position is sold out, plus optional paid features.
LTV & liquidation
SALT allows a high max LTV up to 70% (tiers at 30/50/70%), which means more cash per coin but a thinner buffer. Its ladder is unusually high: a warning around 75% LTV, margin call around 83.3%, and liquidation ("Stabilization") around 90.9%. Borrow well below 70% to avoid a fast trip to the call.
Custody & safety — why we rate SALT Medium relative risk
Source: California DFPI action (2022 pause) ↗
Collateral is held in segregated wallets via Fireblocks (MPC) and qualified custodians, and is not rehypothecated — a solid setup. We rate SALT Medium for two reasons: a 2022-era operating pause in its history (a reminder of CeFi cycle risk) and a high liquidation threshold that can be punishing for aggressive borrowers. See the risk methodology.
What a $25,000 SALT loan costs
At ~8.75% SALT is one of the lower-cost native-BTC options; the trade-offs are its history and a high liquidation point. Figures illustrative.
Pros & cons
Strengths
- No origination fee; native-BTC collateral
- High borrowing power (up to 70% LTV)
- No origination fee; long 1–5 year terms
- Segregated Fireblocks custody, no rehypothecation
Trade-offs
- 2022-era operating pause in its history
- Very high liquidation threshold (~91%)
- 5% liquidation fee
- Centralized counterparty
Who SALT is best for
SALT suits rate-sensitive borrowers who want low cost and higher LTV and are comfortable with its history. If track record and transparency matter more, Ledn is a clearer choice; compare all options in the table.
FAQ
What is SALT Lending's interest rate?
Currently 7.49%–10.50% APR, tiered by LTV and term: 7.49% at 30% LTV, 8.75% at 50% LTV and 10.50% at 70% LTV on 1-year terms, with 3- and 5-year fixed terms priced higher within that range. APR is inclusive of origination fees.
What is SALT's maximum LTV?
Up to 70%, with tiers at 30/50/70%. Higher LTV means a thinner buffer before a margin call.
Where is my Bitcoin held at SALT?
In segregated wallets via Fireblocks (MPC) and qualified custodians; collateral is not rehypothecated.
Is SALT safe?
Its custody is sound, but a 2022-era operating pause and a high (~91%) liquidation threshold lead us to rate it MED. No loan is risk-free.
See SALT next to every other lender
Live rates, LTV, liquidation thresholds, custody, and minimums for every lender we track in one verified table.
Open the comparison →