Postpone your payments to free up extra cash!
Skip-A-Pay is our offer to postpone one month1 of scheduled loan payments on your eligible2 RiverLand loans.
It's not just a one-time offer too! You can skip payments two times a year on each loan, based on a 12-month rolling period, making it a great way to free up extra cash when you need it.
There are plenty of reasons to skip a payment. Here are just a few examples:
- Back-to-school expenses
- Holiday gift shopping
- Unexpected home repairs
- Last-minute vacation plans
- Just because you can!
Ready to Skip-A-Pay?
You can skip a payment in Online Banking!
If you do not have Online Banking, call us to request a Skip-A-Pay Application.
To take advantage of Skip-A-Pay, there is a processing fee that must be on deposit: $25 if processed through Online Banking, and $30 if processed any other way. Restrictions and limitations apply. See Terms and Conditions or Application for details.
Frequently Asked Questions
It varies based on your loan type, terms, and the payments you've already made.
Generally, a member's monthly payment amount stays the same. The skipped payments are added to the end of the loan, which may extend the term and increase the interest charged if no extra principal payments are made.
No, using the Skip-A-Pay option to postpone a payment does not negatively impact your credit score as a missed or late payment would.
1 The number of scheduled payments skipped per request will depend on your payment schedule and will be either: 4 weekly payments, 2 bi-weekly payments, 2 semi-monthly payments, or 1 monthly payment
2 The following accounts are not eligible for Skip-A-Pay: Delinquent loans and loans with late payment history, Accounts with a negative balance, Consolidation Loans, Revolving Lines of Credit, Loans that may exceed 20-year terms, Grand Loans, Loans with balances less than $1,000, Prime Plus & Elite Loans, New loans less than 180 days old, Mastercard® Credit Card Accounts, Any type of Real Estate Loans, Modified Loans, and Accounts not in good standing.