How do you pay back a loan on Skullduggery Island?

Answer 1

If you do not repay the loan within 20 "days", it becomes overdue, and you will not be able to buy a new ship until the overdue loan is paid off. A loan can only be paid in full, and paying it restores your credit.

You can have as many loans as you want, but only one at a time. The loan can be for any amount up to your total worth (doubloons and cargo). Each "day" is counted when you leave one island and arrive at another, so technically, you could leave and return to the same island multiple times and never have a day pass.

Each day that the loan is out costs you 5% (one twentieth) of the total loan, so after 20 days, you will be paying back twice what you originally borrowed. It is to your benefit to repay the loan in as few "days" as possible (which could be a long time unless you go from island to island without much profit).

The most important loans are your first (which lets you start trading faster), and your last (up to 500,000 to buy the Phoenix Warbird). Since you cannot buy a larger ship than the Warbird, the loan need never be paid off.

Answer 2

You can only pay it back in cash, and in full, including all interest. You can see the current balance by clicking your account tab (ship symbol at bottom left). The loan officer will not convert cargo to doubloons as the bank does when figuring your maximum loan.

A loan is due within 20 "days", one "day" being leaving one island and going to a different island. The interest increases your loan by 5% each day, so the most you will have to pay back is twice what you borrowed. If a loan goes past 20 days, it is overdue, and you cannot buy a new ship until the loan is repaid.

Answer 3

If you can't pay back your loan, you can still get money by sinking creatures and ships for their salvage (gets you a lot but is harder to master without getting sunk). Once a loan becomes overdue, you cannot buy a larger ship until it is paid.

Hint : since a "day" passes only when you leave one island and arrive at another, you can limit your interest during the loan by returning to the same island as you left from, such as Dragon Cove, which has numerous sea monsters for you to sink.

Answer 4

Once you have enough money to pay back the loan (with interest), go back to the loan officer at Golden Harbor Bank. You should check the amount on your balance sheet (lower left ship symbol), because it must be paid in full. As soon as it is paid (even immediately afterward), you can take out a larger loan.

Loans are good for 20 "days" (a "day" being leaving one island and arriving at another) and charge 5% interest each day. If a loan is not repaid by 20 days, it becomes overdue and you cannot buy a larger ship until the overdue loan is repaid. It will not accrue interest once overdue.