Product Loan payments and fees

How do I pay for my Product Loan?

There are 2 ways to pay for your Skyro Product Loan: online or over-the-counter.

👉 Visit our How to Pay page here

How do I make advance payments?

Want to pay your loan early, boss? You’ve got 3 options: use Skyro Flexi, make a full early repayment, or pay in smaller amounts. Choose what works best for you:

Using Skyro Flexi

You can use Skyro Flexi to make advanced payments for your Product Loan.

👉 Read more about Flexi here, boss!

Full Early Repayment

To make a full early repayment (FER), you need to check first the exact amount you need to pay. This exact amount depends on the day you make the full payment.

To check your full payment amount and settle it, just follow these steps:

• Go to the Home screen in the Skyro app
• Scroll down to find the block with your Product Loan.
• Tap on your loan amount, and select 'Pay off in full.'
• Choose a payment option and pay.

Quick reminders, boss:

• The amount shown is valid until the next payment due date. (unless you availed of any value-added services or used Flexi)
• Once the loan is fully paid and closed, it can’t be reversed.
• If you want to reloan, just wait for a new offer from us.
• If you need more help with your full early repayment, message us in the chat so we can assist you better.

Pay in smaller amounts

Want to pay early or in parts? Chat with the Customer Care team in the Skyro app to know the exact amount, boss!

How is interest computed for my Product Loan?

For Product Loans, interest is based on the amount you borrowed, usually from 3.9% up to 7%, plus a one-time origination fee that helps cover processing costs. The exact rate is shown in your loan agreement, boss.

This fee is added to your loan and spread out across your monthly payments.

Interest is calculated daily based on your remaining balance. On your due date, the interest for the period is added to your bill and paid first. As your balance goes down, the interest charged also gets smaller.

What is an origination fee?

The origination fee is the fee for processing your application, boss.

It's usually 10% of the financed amount + ₱690. Please note that the exact amount depends on your loan details, boss.