Interest rates and fees

How do I get 0% interest?

To get 0% interest every month, just pay the "interest-free payment" amount shown in your Skyro 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! Just wait for your statement in the Skyro app to see your exact interest-free payment amount.

Example:

• Credit limit: ₱10,000
• Actual balance by billing date: ₱2,500
• Billing date: December 28
• Due date: January 12
  Minimum payment: ₱1,000
  👉 Interest-free payment: ₱2,500

After your billing date, you’ll see your interest-free payment amount in the app.

• Pay the full ₱2,500 on or before January 12 to enjoy 0% interest

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 your interest-free payment by the due date
• 0% interest conditions work separately for every month

How much is the interest rate for SkyroCredit?

SkyroCredit gives you up to 45 days to pay with no interest, every month, as long as you make interest-free payments on or before the due date.

When does interest apply?

If you don’t make an interest-free payment by your due date, a 7% monthly interest will apply to your current balance until it's paid off.

For example:

1st Billing Cycle (November 28 - December 28)

• You spent ₱2,500
• Billing date: December 28
• Due date: January 12
• You paid the full interest-free payment (₱2,500) by the due date

✅ No interest will be charged

2nd Billing Cycle (December 28 - January 28)

• You spent ₱3,000
• Billing date: January 28
• Due date: February 12
• You only paid the minimum payment (₱1,000) by the due date

⚠️ Interest will apply only to the unpaid balance from the December–January billing cycle (₱2,000).

Interest is calculated daily from the purchase date until the balance is fully paid.

To get the daily interest rate:

• Monthly rate: 7%
• Daily interest rate formula: 7 × 12 / (100 × number of days in the current year)
  

✏️ Sample computation:

7 x 12 / (100 x 365)

= 0.23% daily interest

*Use 366 days for leap years

Any new purchases made after January 28 will be eligible for 0% if the next interest-free amount is repaid

💡 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, each purchase has its own interest-free period, depending on when it was made.

• Up to 45 days: Get up to 45 days to pay with no interest, every month.
• First billing cycle: shorter interest-free period (around 30 days) because it is only 15 – 17 days long.
• After the first cycle, billing follows a regular monthly schedule, so purchases can enjoy up to 45 days interest-free.

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 statement.

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.