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Prodigy Finance Abroad Education Loan Parameters

sbi bank

Loan Limit

$15,000 to 100% of total cost of attendance

sbi bank

R.O.I

11.18%

sbi bank

Moratorium\Repayment

12 months \ Tenure varies from 10 - 20 year

Feature

Description

Margin Money

NIL

Processing Fee
  • There are no upfront processing fees.
  • An origination fee of 5% will be added to the loan sanctioned amount.

Processing Time

8 - 10 days

Prepayment Charges

There is no penalty for making early payments toward your loan.

Study Level & Course

Prodigy Finance provides unsecured loans for students studying at universities and courses listed under their Prodigy School listing. The loan options are available for various countries including the USA, UK, Canada, Germany, Switzerland, China, Denmark, Spain, France, Singapore, Paris, Italy, Netherlands, and more.

Expenses Covered

The loan amount will be disbursed directly to the university account to cover tuition fees and living expenses.

Property Acceptable

Unsecured Funding

Collateral & Non-Collateral

Unsecured Loans Only

Co-Applicant:

Not Required

Offer Letter
  • Conditional offer letter & unconditional offer letter both are Accepted.

Eligibility:-

To be eligible for a Prodigy Finance loan, you must meet certain requirements related to studying in a foreign country. These requirements include:

  • Being prepared to study in a country other than your own.
  • If you have lived in the country where you want to study for less than a year before applying, you may not be eligible.

“Additionally, Prodigy Finance is unable to lend in certain countries, regions, and states in the United States and Canada. However, they do provide loans to students from over 150 funded nations.”

Benefits:-

  • No need for a co-applicant.
  • Loan without margin money requirement.
  • Quick loan process for faster disbursal.
  • Flexible repayment period options.

How To Apply:-

  • Apply Online & Upload Your Documents
  • Processing and Approval
  • Loan Sanction And Disbursal

Documents:-

  • KYC of applicant and co-applicants (such as identity proof, address proof, etc).
  • Academic Records
  • Proof of admission
  • Entrance Exam Result(if applicable)
  • Statement of cost of study/ Schedule of expenses
  • Income Proof for Salaried Co-applicant/ Guarantor (if applicable)
  • Bank account statement for last 6 months etc
  • Property Documents (if applicable)

FAQs

No! Prodigy Finance does not require any collateral or a cosigner for loans. This separates them from every lender. They assess affordability based on your future earning potential and not only on your credit history.

Usually, after the completion of documentation, Prodigy Finance takes 3-7 working days to approve and disburse the loan.

There are multiple reasons why an individual can choose Prodigy Finance:

  • ● Flexible repayment options
  • ● Tax Benefits
  • ● Attractive Interest Rates

No, there is no requirement for collateral for an education loan abroad when applying through Prodigy Finance.

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