In order to provide our innovative peer-to-peer lending services, we charge a fair loan provision fee. Investing at Skynvest is free of charge.
We charge a one-time loan provision fee. Additional fees may be applied in case of late repayments.
Anyone can apply for a loan for free. Once you are approved and decide to take out the loan, you will be charged a loan provision fee based on the loan amount and duration as follows:
The loan provision fee will be added to your net loan amount (this means that we will lend you the fee as well). The fee will be charged before the loan is disbursed to your bank account, so you will receive only the net loan amount to your account. You will repay the total loan amount (net loan amount + fee) together with the payable interest with your monthly payments.
Early repayment of the remaining loan amount is free of charge.
In case of late payments, we may charge the following fees:
The fee will be automatically charged from the 7th day (including) of delay.
If the repayment is more than 30 days late, the loan may be passed on to an external collection agency and we may charge an additional one-time fee.
In case of further delay, we may terminate the loan agreement and declare the loan immediately payable. A one-time fee may be charged.
including all payable interest, fees and insurance (if applicable)
In case the loan is declared immediately payable, penalty interest will continue to be charged on the whole remaining loan amount (including all payable interest, fees and insurance (if applicable).
The Friend Loans service is free of charge.
The Friend Loans service allows you to register the private loans you have with your friends or family members. You can record the loan on the platform and access a free interactive repayment schedule where you can track the loan on your own or together with the second party to that loan.
Please be aware that Skynvest is not a party to your loans managed via the Friend Loans service and does not take any steps to connect the lender with the borrower or to administer the loan, nor does Skynvest take any steps in any potential debt collection. Friend Loans serve only to manage your private loans and you are solely responsible for the loans managed through the service.
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