Prodigy Finance is a fintech platform that provides education loan in India to study abroad to students who wish to study in top universities in a foreign land. They are the pioneers to bet on the student profile to provide the education loan in India to study abroad. Prodigy’s Education loan is collectively funded by a community of institutional investors, alumni, and qualified private investors who receive a social and financial return; while students gain access to higher education that they might not otherwise be able to finance. This blog post, we shall study all about Prodigy Finance Education Loan in India for Study abroad.
Benefits of Prodigy Finance Education Loan?
- No Co-signer, No collateral – students who wish to take an education loan in India for study abroad can apply for a prodigy loan without a co-applicant or collateral. The loan is granted on the basis of the future capability of the student, course, and the university.
- Quick Online Application – the entire loan application process of Prodigy Finance is online and takes just 30 minutes to complete. However, the loan amount will not be in INR so the borrowers are required to make currency conversions and calculate the amount. Any wrong calculation of the amount will result in the cancellation of the application. To eliminate such mistakes, it is advisable to take the help of Eduloans where our education loan counselors will assist you in the entire process.
- Prepayment – there is no penalty on the prepayment of the loan amount with Prodigy Finance
- Loan Tenure – Prodigy offers a flexible loan tenure and a repayment term of 7 to 20 years.
- Repayment – the repayment of the loan starts just 6-months after the course ends.
Features of Prodigy Finance Education Loan
- The student should be admitted to a college and the course that Prodigy Finance supports. To know the list of eligible colleges and courses, contact Eduloan Counselor.
- The student must be attending a University outside India.
- The student must be a citizen of the country that Prodigy supports. India is an eligible country.
- Interest Rate – Prodigy Finance favors simple interest rates and the interest is not compounded in the loan duration. The Prodigy Finance interest is variable and can change during the course of the loan.
- Processing Fee/Admin Fee – The admin fee is 4 percent of the total loan amount. But, students are not required to pay the fee upfront as the fee gets added to the loan amount and gets spread across the interest payments.
- Expenses Covered – The loan covers tuition fees and other living expenses.
Eduloans is one of the premier digital platforms in India that connects potential lenders with the borrowers, making it easy for both the parties. In case, students are looking to take an education loan in India for study abroad, connect to our experienced counselors who will guide you through every step and will help you get the best loan at competitive rates. We have over 15 lenders and can provide you a high variety of education loans for Study abroad. So call us today and we will take it from there.