Interest rates and fees

How do I use SkyroCredit with 0% interest?

To use SkyroCredit with 0% interest every month, just pay the "interest-free payment" amount shown in your Skyro Philippines app. This is how much you've spent by the end of each month, up to your billing date.

No need to compute anything, boss! Your monthly SkyroCredit bill in the Skyro app will show your:

• Interest-free payment: The amount you need to pay to enjoy 0% interest.
• Minimum payment: The smallest amount you need to pay to keep your account active and avoid late payment fees.
• Due date: The deadline for making your SkyroCredit payment.
  

Some reminders, boss:

• You don’t need to pay in a single transaction. You can split your minimum payment or interest-free payment into multiple transactions as long as the full amount is paid by the due date.
• To get 0% interest, pay the full interest-free amount by your due date
• Your interest-free payment is calculated separately for each billing cycle, so always check your latest bill in the Skyro app for the amount you need to pay.

How much is the interest rate for SkyroCredit?

SkyroCredit gives you up to 45 days to enjoy 0% interest every month, as long as you make interest-free payments on or before the due date.

The interest rate that applies to your SkyroCredit is stated in your loan agreement. You can also check your statement in the Skyro Philippines app for any interest charges.

When does interest apply?

If you don't pay your full interest-free payment by the due date, interest will apply to your unpaid balance.

Interest is calculated daily based on the applicable interest rate and continues until the outstanding balance is fully paid.

For example:

• If you pay your full interest-free payment on time: No interest will be charged.
• If you only pay the minimum payment: Your account stays active, but interest will apply to your unpaid balance.
• If you pay less than the minimum payment: Interest and a late payment fee of ₱300 per month may apply.

💡 Remember, boss: Interest is charged only if you don’t make an interest-free payment on time.

What is the interest-free period?

SkyroCredit gives you up to 45 days to pay with no interest every month, boss. This is what we call the "interest-free period."

Remember, the length of your interest-free period depends on when you make a purchase during your billing cycle.

Here's how it works:

1. Make purchases using SkyroCredit during your billing cycle.
2. At the end of your billing cycle, your monthly bill shows how much you need to pay.
3. Pay the full interest-free payment shown in your Skyro app on or before your due date to enjoy 0% interest.

💡 Tip, boss: Check your latest bill in the Skyro app for your exact interest-free payment and due date.

Late payment fees

If no payment is made for your SkyroCredit bill, a ₱300 Late payment fee will be charged, boss. This fee can be found on your loan agreement or monthly bill.

To avoid the ₱300 Late payment fee, you must pay at least the minimum amount on or before the due date of your SkyroCredit bill. Please note that interest will apply to the remaining balance shown on your bill date until it is fully paid.