If you’re looking for a quick and easy way to get a loan, you might have heard of Skyro Loan Review. But what is it, how does it work, and is it legit?
In this article, CDNDongkhoi.edu.vn will answer all these questions and more, so you can decide if this loan app is right for you. We’ll also show you how to apply, what the requirements are, and how to pay back your loan on time.
- 1. Summary of Skyro Loan Review Philippines
- 2. What is Skyro finance?
- 3. Types of Skyro Installment Loans
- 4. What is Skyro loan?
- 5. Pros of Skyro App
- 6. Cons of Skyro Lending
- 7. Skyro Loan Requirements
- 8. Skyro Loan Interest Rate
- 9. Example of Skyro Loan Calculator
- 10. Guide to Register Skyro Loan Application Step-by-step
- Step 1: Visit the website or Download the app
- Step 2: Fill out the online form
- Step 3: Confirm phone number
- Step 4: Upload a photo of your ID
- Step 5: Schedule a meeting with a Skyro representative
- Step 6: Meet with the representative and sign the loan documents
- Step 7: Wait for the final approval and receive your money
- 11. Skyro Loan Review and Feedback
- 12. How to make Skyro Loan Payment
- 13. Compare Skyro Financing to Home Credit and Other Apps
- 14. Skyro loan Contact number
- 15. FAQs – Frequently Asked Questions about Skyro App Philippines
- 16. Conclusion
1. Summary of Skyro Loan Review Philippines
|✅ Skyro Loan Review||⭐ Good|
|✅ Loan limit||⭐ ₱5,000 – ₱250,000|
|✅ Term||⭐ 6 – 9 – 12 months|
|✅ Interest rate||⭐ 1.5% – 7%/month|
|✅ Age||⭐ 18 – 70 years old|
|✅ Requirements||⭐ Only one valid ID Card needed|
|✅ Area support||⭐ Metro Manila and Batangas, Bulacan, Rizal, Cavite, Laguna, Cebu|
|✅ Pros||⭐ High maximum loan amount|
|✅ Installment?||⭐ Yes|
|✅ Legit?||⭐ Yes|
|✅ How to pay||⭐ Online banks, E-wallets, and OTC|
|✅ Processing time||⭐ A couple of hours or up to 3 days|
|✅ Contact number||⭐+63 919 170 0717|
|✅ Level of efficiency rating||⭐ 9/10|
2. What is Skyro finance?
Skyro Finance is a brand that offers point-of-sale (POS) loans and cash loans in the Philippines. This company was launched in 2022 and aims to provide accessible and fair lending products and services to Filipinos. Skyro is the common brand of two companies Advanced Finance Solutions, Inc. and Jungle Lending, Inc.
3. Types of Skyro Installment Loans
According to the information we have learned, the Skyro loan app Philippines currently offers 2 main types of installment loans:
Skyro cash loan
A cash loan is a service of Skyro financing that allows you to borrow cash up to 250,000 pesos with no collateral. These loans can be disbursed to the customer’s bank account or e-wallet.
The company also offers point-of-sale (POS) loans (also known as Skyro gadget loans). It allows customers to buy home appliances, electronics, or furniture from partner merchants with a low down payment and flexible monthly installments. Cellphone installment loan is an example of this type.
4. What is Skyro loan?
Skyro Loan is a personal loan service that offers flexible and convenient financing solutions for Filipinos. Whether you need money for home appliances, education, medical expenses, or any other purpose, Skyro can help you get it with just one valid ID and a smartphone. You can apply for a loan from ₱5,000 to ₱250,000 with an interest rate of 1.5% to 7% per month and a repayment term of 6, 9, or 12 months.
5. Pros of Skyro App
Here are some of the advantages of Skyro Loan that you should know:
- You can borrow up to ₱250,000 with this loan, depending on your income and credit score. This is higher than most other online lending platforms in the Philippines.
- Flexible payment options: You can choose from 6, 9, or 12 months to pay back your loan, depending on your preference and budget.
- Fast and convenient loan process: You only need one valid ID to apply for this loan. You don’t need to submit any other documents or collateral.
- Friendly customer service.
- Additionally, you can enjoy special offers and discounts from Skyro Philippines
6. Cons of Skyro Lending
Before you download it and apply, you should be aware of some of the drawbacks of Skyro Cash Loan to consider:
- Charging an origination fee: 16.6% of the approved loan amount or ₱5,000 whatever is lower.
- Imposing a late payment fee: of ₱500 but not higher than 5% of the loan disbursement amount.
- Charging a pre-payment fee: of 5% if you want to pay off your loan early.
- Must have an in-person meeting with a representative to interview and sign the contract.
7. Skyro Loan Requirements
To be eligible for a Skyro app, you need to meet the following criteria:
- Be a Filipino citizen aged 18 to 70 years old.
- Be able to meet with a Skyro representative in Metro Manila or in selected provinces (Batangas, Bulacan, Rizal, Cavite, Laguna, Cebu).
- Have a smartphone and a Philippine mobile number.
- Have one valid government ID that indicates your address and date of birth, from the following list, including a Philippine passport, PhilSys ID (Philippine Identification ID), Driver’s license, UMID (Unified Multi-Purpose ID), SSS ID (Social Security System ID), Postal ID, and PRC ID (Professional Regulation Commission ID).
- Have proper proof of your income from reliable sources such as employment, business, pension, or remittances.
8. Skyro Loan Interest Rate
One of the advantages of Skyro loan is that it offers a lower interest rate than most online lending platforms. The interest rate ranges from 1.5% to 7% per month, depending on your loan amount, loan term, and credit score.
To give you an example, if you borrow ₱60,000 for 12 months with an interest rate of 1.5%, your monthly payment will be ₱5,960 with interest. This example is for illustrative purposes only and it is assumed that payments are made on time.
9. Example of Skyro Loan Calculator
The Skyro cash loan calculator is a handy tool that lets you choose the loan amount and installment period that suit your budget.
Let’s say you borrow ₱60,000 for 12 months with an interest rate of 1.5%/month. Here are the steps to calculate:
- Go to the website or Skyro loan app and scroll down to the loan calculator section.
- Use the slider or input box to select the loan amount you need: ₱60,000
- Use the slider or input box to select the installment period you prefer: 12 months.
- The calculator will show you your monthly payment is ₱5,960. Note that this is only an estimate and the actual amount may vary depending on the prevailing rates when you apply.
10. Guide to Register Skyro Loan Application Step-by-step
In this section, we will show you how to apply for a Skyro loan online in a few easy steps.
Step 1: Visit the website or Download the app
- Go to the website skyro.ph or download the Skyro app for Android or IOS mobile.
- Use their loan calculator to choose the loan amount and installment period that suit your needs.
- You will see your monthly payment and the interest rate for your loan.
Step 2: Fill out the online form
- Click “Apply for this loan” and fill out the online form with your personal details, such as your full name, mobile number, and email address.
- Then click “Next”.
Step 3: Confirm phone number
- Enter an SMS code sent to your registered mobile number.
Step 4: Upload a photo of your ID
- Fill out your income source, and bank account or e-wallet.
- You will also need to upload a photo of your valid ID that states your current address and date of birth.
Step 5: Schedule a meeting with a Skyro representative
- In the last step of the online form, you will need to select the date, time, and place for the meeting with a representative of the company.
- After submitting the form, you will receive a call from a Skyro agent to confirm the date, time, and place of the meeting with a representative. The meeting usually takes place within 1 to 5 days after your application.
Step 6: Meet with the representative and sign the loan documents
- On the day of the meeting, make sure to bring your valid ID and your smartphone.
- The representative will deliver the loan documents for you to sign and take photos of you and your ID. This process usually takes around 30 to 60 minutes.
Step 7: Wait for the final approval and receive your money
- After the meeting, the lender will review your application and notify you of their decision via phone call or SMS. If you are approved, your money will be credited to your bank account or e-wallet within 1 to 8 days.
You can also refer to the following video to learn how to apply for a loan:
11. Skyro Loan Review and Feedback
This is my Skyro loan app review after using it for three months.
I applied for a loan of ₱50,000 to buy a new laptop for my online business. The application process was easy and fast, I only needed to upload one valid ID and schedule a meeting with a Skyro representative.
The representative came to my house the next day and explained the loan terms and conditions to me. I signed the loan agreement and received the money in my bank account within an hour.
The interest rate for my loan was 2% per month, which is reasonable compared to other lenders.
I like that Skyro offers flexible payment options, I can pay through the app, bank transfer, or over-the-counter at 7-Eleven. I also appreciate the timely payment reminders and the friendly customer service.
Overall, I am satisfied with the Skyro loan app and I would recommend it to anyone who needs quick and easy cash.
Many customers also gave positive feedback about the lending service here, you can see the pictures below:
12. How to make Skyro Loan Payment
Here are the steps on how to pay a Skyro loan:
- On your home screen, tap on the block with your loan.
- Tap “Make a payment”.
- Choose how you want to pay and then follow the on-screen instructions. You have three payment options:
- Bank transfer: You can transfer the payment amount to Skyro’s bank account using your online banking app or website. The company’s bank partners are BDO, BPI, Land Bank, Metrobank, RCBC, and UnionBank.
- E-wallet: You can pay using your GCash, PayMaya, GrabPay, or Coins.ph account. Just scan the QR code in the Skyro app or enter your mobile number and the payment amount.
- OTC (over-the-counter) outlets: You will need to generate a code using the Skyro app and show it to the cashier at the outlet. You can find a list of OTC partners and their locations on the company website.
- After making the payment, wait for the confirmation message from the company. It might take up to 48 hours depending on the processing time of your bank, e-wallet, or OTC outlet.
Note that there is a ₱25 transaction fee when you pay using e-wallet or via over-the-counter partners. When paying via online banks, the transaction fee is ₱25 + an extra fee ranging from ₱10 to ₱25.
13. Compare Skyro Financing to Home Credit and Other Apps
Let’s compare this loan app with some other lending apps to see the difference:
|Criteria||Skyro loan||Home Credit||Unacash|
|Amount||₱5,000 – ₱250,000||₱3,000 – ₱150,000||₱1,000 – ₱50,000|
|Tenor||6 – 9 – 12 months||6 – 60 months||2 – 6 months|
|Age||18 – 70 years old||18 – 68 years old||18 and older|
|Interest rate||1.5% – 7%/month||1,83%/month or more||0% – 16%/month|
|Approval time||From 1 to 8 days||As fast as 1 minute||Less than 24 hours|
Source: Reports of the State Bank.
14. Skyro loan Contact number
To learn more information about Skyro company details, or any complaints, you can follow their contact at:
- Hotline number: +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: firstname.lastname@example.org
- Twitter: twitter.com/skyroph
- Partnership: All here
15. FAQs – Frequently Asked Questions about Skyro App Philippines
To provide more information about Skyro Loan, please refer to the following questions and answers below.
# How to pay Skyro using GCash?
- Log in to your GCash app and tap on Pay Bills.
- Select Loans from the biller categories and choose Skyro as the biller.
- Enter your Skyro loan account number, the amount you want to pay, and your email address.
- Confirm the details and tap on Pay Now.
- You will receive a confirmation message and an email receipt for your payment.
# Is Skyro loan legit or not?
Yes, Skyro Loan is a legitimate lending company that operates in the Philippines. It has a valid registration with the Securities and Exchange Commission (SEC), which is the government agency that regulates and supervises the lending industry. This company is also a member of the Fintech Alliance of the Philippines (FinAccel), which is a self-regulatory organization that promotes ethical and responsible lending practices among fintech companies.
# How long is Skyro loan processing time?
The application process usually takes around 30 to 60 minutes. However, this does not include the time it takes to schedule and attend a meeting with a Skyro agent. The meeting can be arranged within 1 to 8 days after filling out the online form. Therefore, the total time it takes to get a loan can vary depending on the availability of the agents and the customers.
# How much is Skyro penalty fee?
The penalty fee is ₱500 or 5% of the disbursement amount, whichever is lower. The penalty fee applies the next day after your due date and every month that you’re overdue. You can avoid this fee by paying on time using online banks, e-wallets, or over-the-counter outlets.
# Is Skyro SEC registered?
The answer is yes. Skyro is SEC registered under two different corporations: Advanced Finance Solutions, Inc. is duly registered with Securities and Exchange Commission (SEC) Registration Number 2022080063542-00 and is regulated with license number F-22-0029-37; Jungle Lending, Inc. is duly registered with SEC Registration Number CS202002223 and is regulated with license number 3249.
Skyro Loan is a convenient and reliable way to access loans in the Philippines.
The requirements are minimal, the interest rates are reasonable, and the payment methods are flexible.
If you are looking for a hassle-free and affordable loan option, you should definitely try this loan app.