Skyro Loan PH (Philippines), a prominent financial service provider in the Philippines, has been revolutionizing the lending industry with its innovative approach. With a commitment to customer convenience and financial inclusion, Skyro PH has become a trusted partner for individuals seeking reliable and accessible financial solutions. In this article, cdhanam.edu.vn will delve into the key features and benefits of Skyro PH, shedding light on why it has garnered such acclaim in the financial sector.
Overview of Skyro Loan App APK
About Skyro finance
Skyro Finance is a financial technology company that provides loans to Filipinos. They are a subsidiary of Advanced Finance Solutions, Inc., which is a registered lending institution with the Securities and Exchange Commission (SEC).
What is Finapps PH Loan?
Skyro is a financial technology company that provides loans to Filipinos. They offer two types of loans: cash loans and POS loans.
Cash loans are unsecured loans that can be used for any purpose. The loan amount ranges from ₱10,000 to ₱50,000 and the repayment period is up to 36 months.
POS loans are loans that are used to purchase goods and services from partner merchants. The loan amount ranges from ₱3,000 to ₱50,000 and the repayment period is up to 24 months.
Is Skyro loan legit?
Skyro Loan is a legitimate Philippine lending company registered with the SEC and a member of the FinAccel Fintech Alliance, promoting responsible lending.
Is Skyro registered with the SEC?
Advanced Finance Solutions, Inc. is SEC certified with Registration No.: 2022080063542-00, Financing company license No.: F-22-0029-37, and located at 20F Cyber Sigma, Lawton Avenue, Bonifacio South, Taguig City, 1637 Metro Manila.
Jungle Lending, Inc. holds SEC certification with Registration No.: CS202002223, Lending company license No.: 3249, and is situated at 3006 30F, One Corporate Center, Meralco Avenue corner Julia Vargas Avenue, San Antonio, Pasig City, 1605 Metro Manila.
Both entities, Advanced Finance Solutions, Inc. and Jungle Lending, Inc., are affiliated under the SKYRO brand.
Pros of Skyro loan online PH App
Here are some noteworthy advantages of the Skyro Loan:
- Generous Loan Limits: With Skyro Loan, you have the opportunity to borrow up to ₱250,000, a higher amount compared to many other online lending platforms available in the Philippines. The loan amount is determined based on your income and credit score.
- Payment Flexibility: Skyro Loan offers flexible repayment options. You can select from convenient terms of 6, 9, or 12 months to tailor the repayment schedule according to your personal preference and financial capacity.
- Streamlined Application Process: The loan application process is both swift and convenient. You’ll only need one valid ID to initiate your loan request, eliminating the need for additional documentation or collateral, simplifying the process significantly.
- Responsive Customer Support: Skyro Loan prides itself on providing friendly and responsive customer service to assist you throughout your borrowing journey.
- Exclusive Offers: In addition to these advantages, Skyro Philippines also extends special offers and discounts, enhancing the overall value of their lending services.
These features make Skyro Loan a compelling option for those seeking financial assistance in the Philippines.
Cons of Skyro loan Philippines
Before proceeding with the download and application, it’s important to be mindful of certain limitations associated with the Skyro Cash Loan that you should take into account:
- Origination Fee: Skyro Cash Loan charges an origination fee, which amounts to 16.6% of the approved loan amount or ₱5,000, whichever is lower. This fee is a consideration when determining the total cost of borrowing.
- Late Payment Fee: In the event of late payments, Skyro Cash Loan imposes a late payment fee of ₱500, which should not exceed 5% of the loan disbursement amount. Timely repayments are crucial to avoid this additional cost.
- Pre-Payment Fee: If you choose to settle your loan ahead of schedule, a pre-payment fee of 5% is applied. It’s important to factor in this fee if you intend to pay off your loan early.
- In-Person Meeting Requirement: To complete the application process and formalize the agreement, you will be required to have an in-person meeting with a representative from Skyro Cash Loan. This entails an interview and signing of the contract, which may require additional time and effort.
Being aware of these drawbacks will help you make an informed decision regarding your loan application with Skyro Cash Loan.
Skyro Loan Requirements
To become a Skyro customer, you must satisfy the following prerequisites:
- Be a Filipino citizen within the age range of 23 to 65.
- Possess a primary ID document that verifies your current address.
- Demonstrate a consistent and reliable source of income.
- Own a smartphone with an active and valid mobile phone number.
You only require a single valid identification document from the following options:
- Philippine passport
- SSS ID (Social Security System ID)
- UMID (Unified Multi-Purpose ID)
- PhilSys ID (Philippine Identification ID)
- Driver’s license
- PRC ID (Professional Regulation Commission ID)
- Postal ID
Skyro Loan Interest Rate
The interest rate for Skyro loans is not publicly available. However, it is said to be competitive with other lending institutions in the Philippines. According to some sources, the interest rate for Skyro loans ranges from 1.5% to 7% per month, depending on your loan amount, loan term, and credit score.
Here are some factors that may affect your Skyro loan interest rate:
- Your credit score: The higher your credit score, the lower your interest rate will be.
- The amount of money you borrow: The more money you borrow, the higher your interest rate will be.
- The term of the loan: The longer the term of the loan, the higher your interest rate will be.
- Your employment status: If you are employed, you are more likely to get a lower interest rate than if you are unemployed.
- Your income: The higher your income, the lower your interest rate will be.
It is important to note that these are just estimates and your actual interest rate may be different. The best way to know your Skyro loan interest rate is to apply for a loan and see what they offer you.
Example of Skyro Loan Calculator
Skyro does not have a public loan calculator on their website. However, you can use a simple interest loan calculator to get an estimate of your monthly payments and total interest.
The formula for simple interest is:
Interest = Principal x interest rate x term in years
- Principal is the amount of money you borrow
- Interest rate is the percentage of the principal that you pay in interest each year
- Term is the number of years you have to repay the loan
For example, if you borrow ₱10,000 at an interest rate of 10% and you have to repay the loan in 3 years, your total interest will be ₱3,000.
To calculate your monthly payments, you can divide the total interest by the number of payments you will make. In this case, if you make monthly payments, your monthly payment will be ₱100.
Monthly payment = Total interest / Number of payments
Monthly payment = ₱3,000 / 36 months = ₱100
It is important to note that this is just an estimate and your actual monthly payments and total interest may be different. The actual interest rate and repayment terms will depend on your credit score and other factors.
Step-by-Step Guide for Registering Your Skyro Loan Application
Steps to Apply for a Skyro Loan Online:
- Step 1: Visit skyro.ph or download the Skyro app on Android or iOS.
- Step 2: Use the loan calculator to select the loan amount and installment period.
- Step 3: Fill out the online form with your personal details and confirm your phone number.
- Step 4: Upload a photo of your valid ID, income source, and bank account or e-wallet.
- Step 5: Schedule a meeting with a Skyro representative.
- Step 6: Meet with the representative, sign loan documents, and provide necessary documents.
- Step 7: Wait for final approval; the money will be credited to your account within 1 to 8 days.
You can watch the video below for a tutorial on the loan application process:
Loan Online Payments Of Skyro PH
You have the choice of three payment methods: online banks, e-wallets, and over-the-counter (OTC) transactions. Here’s a comprehensive list of our partners for each option:
- Land Bank
- Bayad Center
- M Lhuillier
- Palawan Pawnshop
- The SM Store
Let’s compare Skyro Financing vs Home Credit
Now, let’s contrast this loan app with other lending applications to highlight the distinctions.
|Criteria||Skyro PH||Home Credit PH|
|Amount||5,000₱ – 250,000₱||3,000 – 150,000₱|
|Tenor||6 – 12 months||6 – 60 months|
|Age||18 – 70 years old||18 – 68 years old|
|Interest rate||1.5% – 7%/month||1.83%/month or more|
|Approval time||From 1 to 8 days||As fast as 1 minute|
Skyro Loan Contact Number
For additional details about Skyro, including company information and addressing any concerns or complaints, you can reach them through the following contact methods:
- Hotline Numbers: +63 919 170 0717 / +632 8540 3337
- Address: 20F Cyber Sigma, Lawton Avenue, Bonifacio South, Taguig City, 1637 Metro Manila.
- Website: skyro.ph
- Portal: portal.skyro.ph
- Email: email@example.com
- Twitter: twitter.com/skyroph
- Partnership Inquiries: All inquiries welcome.
Is there a fee I have to pay?
Indeed, there is a ₱25 transaction fee for payments made through e-wallets or over-the-counter partners. For online bank payments, the transaction fee amounts to ₱25 plus an additional fee, which falls within the ₱10 to ₱25 range.
Please take note that at present, there is no transaction fee applied for payments via BDO or UnionBank; only an extra fee is incurred.
How quickly will I see that my payment was posted?
The processing time varies based on the payment partner, ranging from instant to a maximum of 3 days.
What is the Skyro penalty fee?
The penalty fee amounts to ₱500 or 5% of the disbursement amount, whichever is less. It comes into effect the day after your due date and recurs every month that your payment remains overdue. Timely payments via online banks, e-wallets, or over-the-counter outlets can help you steer clear of this fee.
In conclusion, Skyro Loan Philippines offers a convenient and accessible solution for individuals seeking financial support. With its easy application process, flexible payment options, and commitment to responsible lending practices, Skyro has established itself as a reputable choice in the Philippine financial landscape. Whether you’re in need of a personal loan or facing unexpected expenses, Skyro Loan Philippines provides a viable and trustworthy option to address your financial needs.