Sometimes you can just use a little extra cash.
Whether to treat yourself to a well-deserved weekend away or to pay unexpected expenses.
- Skip a loan payment up to 2 times per rolling 12-month period (not to exceed 6 skips per loan).1
- Skipping a payment won’t hurt your credit report!
- Secured consumer loans are eligible.
- $25 processing fee per loan, per request.
Skip-a-Payment is here to help when you need a break, for yourself or from bills!
Can I add the $25 Skip-a-Payment fee to the balance of my loan?
No, the $25 must be collected at the time you apply to Skip-a-Payment.
When must I apply to skip next month’s payment?
You must apply at least 10 days before the payment you want to skip is due.
Can I skip two months in a row?
Though you can skip two months per rolling 12-month period, you cannot skip two consecutive months.
When can I skip my first payment?
You must have had the loan open and not had a late payment (longer than 30 days late) for at least 6 months before it becomes eligible for the Skip-a-Payment program.
What if I have set up an automatic payment?
Automatic payment is a great way to pay! However, with Skip-a-Payment, it’s important to make preparations if you have an automatic payment set up:
- If the transfer is an internal transfer from another Interra account, your loan payment due date will be advanced automatically.
- If you make your loan payment automatically from another institution, you will need to make arraignments to skip the payment once you’re approved by Interra to do so.
- If you have authorized Interra to initiate withdrawals from another financial institution, you then automatically authorize Interra to suspend the transfer for one month by applying for Skip-a-Payment.
Will my loan still accrue interest when I skip a payment?
Yes, interest will continue to accrue regardless of the skipped payment. For more information, read the terms and conditions