Help topics
Paying for My Skyro Loans
SkyroCredit
- What is SkyroCredit?
- How to use SkyroCredit
- Refer and Earn
- Cash out
- QR Ph payments with SkyroCredit
- Credit limit
- Payments
- Billing cycles and statements
- Interest rates and fees
- Cashback in SkyroCredit
- Using SkyroPondo for SkyroCredit
- SkyroCredit application status
- Payment issues with SkyroCredit
- Got questions about SkyroCredit, boss?
Product Loan
- What is a Skyro Product Loan?
- What items can I buy with a Skyro Product Loan?
- How do I apply for a Skyro Product Loan?
- Where can I use my Skyro Product Loan?
- Product Loan payments and fees
- Product Loan application status
- What is Skyro Flexi?
- What is the Skyro Zero Plan?
- Add-ons and Protection
- Got questions about Skyro Product Loan, boss?
Payment issues with SkyroCredit
In this article
What happens if I cannot pay on time?
If you cannot pay your SkyroCredit on time, you will be charged interest, boss. This will apply to your outstanding balance until it is paid off.
To stay on track, make sure to pay at least the minimum amount due shown on your Skyro app home screen every month.
The interest is charged every day without a grace period. This means interest applies every day, even between your billing date and due date.
Your interest is computed daily using this formula:
- Monthly interest rate (from your disclosure statement) X 12 ÷ 365 (or 366 in a leap year) X unpaid principal balance X number of days it was borrowed
- The same calculation is applied to any unpaid balance within the billing period.
- If no payment is made for your SkyroCredit bill, a ₱300 Late Payment Fee will be charged. Learn more about how late payment fees work.