extra notes and info 💬 Financial Education

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Financial education

1. How interest is computed (depending on product)

Billease example: they compute how much is interest on other regular loans
The first you repay is the interest always

reduce balance as soon as possible (8k is amller than 10k interest; rate will not change)
When you apply higher interest

interest rate the same but interest is higher

When you repay monthly payments, your whole monthly payment will go to cover interest first for WHOLE part. interest will only decrease 3rd payment..only after 3 months)

They promote it in Help Center

you don't pay full interest before you repay balance. Pay only this balance

We could also present this as a cool fesature. For all of our loans, this is how it works. If we can explain it in a simple way, they will understand the benefit. Not all loans are the same.

https://zoom.us/wb/doc/SlTUK9UDRoCPX_lhUAiP0Q

Look at yearly rate, not on total repayment of interest
* You can take a very small loan for 7 days, but you will pay 2% daily

2% daily (broker partner) vs. Skyro (4.9% monthly)

Explain if you take this loan and repeat it for 2 years, your interest will be very high. Look at the interest rate on the same terms

Compare different interest rates

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2. Why the interest rates in the Philippines are high?

3. How to compare interest rates of different loans with different forms (monthly, daily, fees, etc.)

   1. Interactive calculator

4. Why application rejection reasons are kept secret?

5. How to avoid the debt trap?

6. How to protect yourself from fraud and scam?

7. Data safety

8. Is it safe to share, sell and buy accounts?

9. Is it safe to use products in an unintended way for personal benefit?

10. How to make sure a company is legit?

11. Saving for something vs taking a loan - benefits and pitfalls, what’s better?

12. Is it good to apply for a Cash Loan to repay other debts?

13. If you get rejected for the first time - “i have no hope to get the loan anymore ” - don’t worry, you can fix it. Don’t give up. You can still get a loan later, if you improve your credit score.

14. Rejection reasons: (that's automated - so usually it’s many-many factors together). Have a look what is important to get a loan.

    1. accurate data on the application & what kind of info (if you lied,

    2. your salary

    3. type of employment

    4. if you you have very poor debt ratio - how much you spend and earn

    5. your contactability ( if we re able to call you_)

    6. previous credit history ( if you even once pay later 1-2 days- that counts already)

15. How to improve your chances to get a loan. Even if you reapply again, we might have approve you, cause our.

    1. if you have updates - please update your work/ salary/ status… etc -

    2. if you have previous loans and you’ve paid them already - you update us

    3. your data changes - married, etc

    4. if you

16. If you have poor credit history - if you didn’t pay on time you can

17. I got rejected. what should I do:

    1. Secondary options: we might offer you other producst: SkyroCredit with smaller limit. If you show that you can repay on time and you’re reliable - it will help to repair you history and then you will get higher chances to get a bigger loan next time.

18. SkyroCredit - Control your spending, don’t overuse your credit limit if you know you cannot pay it fully

Julia Likhacheva (mobile)

• Why it is important not to take a loan for the 3rd person (he takes it, you pay)

• What happens if you don't pay your loans (you have a bad rating, no one will approve a new loan in the future)?

• Why it is important to know how to calculate the interest rate of a loan and compare it.

• How can you avoid a large overpayment on a loan?

• Is it possible to pay off an entire loan ahead of schedule?

• How many loans can one person have?

• Change of work in relation to loan application and approval

Iya’s extra ideas

• add how to build credit history and get new offers