SKIP-A-PAY
When life happens, you’ve got options
Pause a payment or create a little breathing room. We’re here to help you stay on track.
Which option is best for you?
Already have a Loan with us?
Log into online banking with the button below to quickly check eligibility and request your Skip-A-Pay. If your loan qualifies, you can pause a payment and give yourself immediate financial relief—without the hassle.
Don't have a Loan with SkyOne
Refinance your existing loan from another lender with SkyOne and you could delay your first payment for up to 90 days. It’s a simple way to reset your timeline, ease monthly pressure, and get back on track.
Skip-a-Pay is not available for credit cards, commercial/business loans, first mortgages, home equity loans and home equity lines of credit or any real estate loans. The loan account must have been opened for more than six months and cannot be delinquent.
To be eligible, your loan must be current and in good standing, you must not have skipped or deferred a payment within the past twelve (12) months, and your account must not be in delinquent or bankruptcy status.
You can only skip one payment per loan every 12 months. Skip a Pay requests must be submitted at least 5 days before the payment due date. A $30 fee per Skip a Pay loan is required, and the funds must be available in the designated SkyOne Share account, from which they will be withdrawn, at the time the Skip a Pay is requested.
Finance charges will continue to accrue at the contract rate. Skipping a payment will result in higher total finance charges than if you made payments as originally scheduled and will extend the term of your loan(s).
For members who have Guaranteed Asset Protection (GAP), claim coverage will not extend to the amount of payment(s) skipped. Refer to your insurance contract for your coverage details.
For loan accounts with joint owners, by agreeing to the terms and conditions of the Skip a Pay, this indicates agreement on behalf of all applicants associated with this loan.
Credit Approval & Interest Accrual Disclosure: All loans are subject to credit approval and eligibility requirements. Interest begins to accrue on the date the loan contract is executed, not the date of the first payment. If your first payment is deferred for up to 90 days, interest will continue to accrue during the deferral period, which will increase the total amount you repay over the life of the loan.
Accrued interest during the deferral period is included in the finance charge and reflected in the APR.