Frequently asked questions
What we store, how the app keeps your transactions on your own phone, how we make money, and how accurate the calculators are.
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About SkyloFin
What is SkyloFin?
SkyloFin is two things. A website where you can look up credit cards, loans, savings and demat accounts and work out what they cost using our calculators. And an Android app that reads your bank's SMS alerts on your own phone to track your spending, without that data ever reaching us.
Who is behind SkyloFin?
SkyloFin is a product of Skylo Digital, a proprietorship registered in India under MSME Udyam UDYAM-MH-23-0433200. It was founded by Akash Wagh, a full-stack developer, in 2026. Skylo Digital builds privacy-first software, and SkyloFin is its first consumer product.
Is SkyloFin a registered company?
Skylo Digital, the company behind SkyloFin, is registered as an MSME under Udyam number UDYAM-MH-23-0433200. A trademark application for the SkyloFin name has been filed with the Indian trade marks registry and is awaiting examination. We say applied for, not registered, because that is the current status.
Can I trust SkyloFin with my money?
We never touch your money. SkyloFin does not hold accounts, move funds or take payments. The website shows you products and sends you to the bank to apply. The app reads your bank SMS on your own phone and keeps every transaction there or in your own Google Drive, never on our servers. What we earn is a referral fee from the bank when you apply through us, and we say so on every product page.
How does SkyloFin make money?
When you apply for a product through one of our links, the bank or lender pays us a referral fee. You pay nothing extra, and the rate you get is the same as going direct. We do not sell your data, and we do not take payment to rank one product above another.
How do I contact SkyloFin?
Email support@skylofin.com. It reaches the founder directly, and every message gets a reply. There is no call centre and no chatbot.
Is the app free?
Yes, and there is no advertising in it. We earn a referral fee when somebody chooses to apply for a card, loan or account through us. You pay nothing extra, and the rate you get is the same as going direct.
Do you recommend which product I should take?
No. We show you what each product costs and let you decide. We are an affiliate, not a financial adviser, and we are not registered to give personal advice. For a decision that depends on your circumstances, speak to someone qualified.
Are the interest rates and fees you show guaranteed?
No. Rates and fees change often, and what you are actually offered depends on your credit history, income and the lender's assessment. Treat everything here as indicative and confirm with the provider before you commit.
Your data and privacy
What data do you actually store?
Your name and email address, so you can sign in. If you choose to add a mobile number, it is stored encrypted on our server. It is optional, and the app works without it. We do not store your bank details, card numbers or transactions.
Where does the app keep my transactions?
On your phone, in an encrypted database, and in a backup on your own Google Drive that only the app can read. Bank messages are read on the device itself. None of it is sent to us, which also means we cannot recover it for you if you lose the phone and have no backup.
Do you sell my data?
No. We earn from referral fees when you apply for a product through us. Your data is not part of that, and we do not sell or share it with advertisers or data brokers.
Why does the app need to read my SMS?
Because that is where your bank tells you about a payment. The app reads those alerts on your phone and turns them into a spending record, so you never type a transaction in. Only messages from bank and payment sender IDs are opened. A message from a person is never looked at. The text is read on the device, is not stored, and never reaches our servers. You can turn it off at any time in Settings, and the app still works with transactions you add by hand.
Does the app read my personal messages?
No. Messages are filtered by sender before anything is read, so only bank and payment alerts are opened. A message from a person is never looked at, and no message text is ever sent anywhere.
Can I delete everything?
Yes. Under More, then Security, you can clear the data on this phone, delete your Google Drive backup and delete your account. Deleting the account removes your name, email and mobile number from our servers.
Using the app
A payment is missing from my transactions. Why?
Every bank writes its alerts differently, and there are more than a hundred banks in India. The app reads the formats it knows, and a wording it has not seen before is skipped rather than guessed at. If a payment is missing, send us that message from More, then Help and Support, then Report a missing transaction. We add support for that format, and it then works for you and for everyone else on that bank.
A transaction is in the wrong category. Can I change it?
Yes. Open the transaction and change its category. The app remembers that choice for the same merchant and applies it to future payments. Your correction is kept ahead of the app's own guess, so it is never quietly overwritten later.
Do I have to keep the app open for it to work?
No. Bank messages are read as they arrive, whether the app is open or not. Opening it simply shows you what has already been recorded.
Does it work if I have accounts at more than one bank?
Yes. Every bank and card that sends you an alert is tracked, and the app works out which account each payment belongs to from the message itself. There is no limit on how many you have.
How do I move to a new phone?
Turn on Google Drive backup on the old phone first, under Settings, then Sync and backup. Then sign in with the same Google account on the new phone and restore from there. Without a backup there is nothing to move, because your transactions only ever existed on the old device.
Calculators
Are the calculators accurate?
The arithmetic is standard and exact. EMI, compound interest and amortisation all use the same formulas your lender does. What they cannot know is your lender's rounding, fees or the rate you personally qualify for, so treat the output as a close estimate rather than a quotation.
Do you store what I type into a calculator?
No. Calculators run entirely in your browser. Nothing is sent to a server, nothing is saved, and they keep working if you lose your connection.
Why does my bank quote a different EMI?
Usually rounding, or a fee folded into the loan, or a slightly different day-count convention. Differences of a few rupees are normal. A difference of hundreds usually means the rate or tenure quoted is not what you entered.
Applying for products
Does applying through SkyloFin affect my chances?
No. Your application is assessed by the bank or lender on exactly the same terms as if you had gone to them directly. We pass you through; we have no influence on the decision.
Will checking options here affect my credit score?
Browsing and using calculators has no effect at all. Submitting an application does, because the lender runs a hard credit check. That is true wherever you apply from.
Do you show every product available in India?
No, and nobody does. We show products from the partners we work with, and we are adding more. If something is not listed, it is not a judgement about that product.
Cannot find your question? Ask us directly and we will answer, usually within a working day.
SkyloFin is an affiliate marketplace, not a financial adviser, and nothing here is personal advice. Rates and fees change and depend on your circumstances, so always confirm with the provider before you commit. See our privacy policy, terms and data safety pages for the full detail.
Guides in Plain Words
Short reads that explain how it works before you decide.
Money GuidesHow to Work Out Your Monthly Spending from Bank SMSSearch your inbox for debit SMS, drop transfers and card bill payments, then total by category. A worked example with real-life numbers.Read the guide →
Money GuidesSMS-Based Expense Tracker Apps for Android: How They Work and Which to PickSMS expense trackers turn your bank alerts into a spending diary. How they read a message, what they miss, and how six apps compare.Read the guide →
Money GuidesHow to Make a Monthly Budget in India: Salary Examples from ₹25,000 to ₹75,000Make a monthly budget in 5 steps: fixed costs, savings, variable spends, a buffer, weekly checks. With full budgets for ₹25,000 to ₹75,000 salaries.Read the guide →
