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Prodigy - Education Loan

INTERNATIONAL LENDERS

No collateral needed

Loan Margin : NIL

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5 days avg loan processing time

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Margin

NIL

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Collateral

No

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Loan Tenure

Upto 20 Years

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Processing fee

5.0% onwards

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Early Repayment

No (without any charges)

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Living Cost

No

Secured Loan

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Amount

Up To 100,000

Un-Secured Loan

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Amount

No limit

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UniCreds Guarantee

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Quick Loan Sanctions

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100% Transparency

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No Hidden Fees

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24x7 Support

Features of Prodigy Finance Education Loan

UniCreds recognises that obtaining an education loan for international study can be a time-consuming and unpleasant process. Those who do not have any collateral or guarantor to back up their application are especially vulnerable. UniCreds has teamed with Prodigy Finance Education Loan to assist such students in making their goals a reality.

Established in 2007, Prodigy Finance is based in the United Kingdom. A financial organisation that has altered the education loan method while preserving the best level of service. They help the students, on the basis of their future earning potential, receive prodigy finance loan without collateral or co-applicant. UniCreds is the best place to contact if you're interested in joining this Prodigy-funded cohort of overseas students.

FeaturesEducation Loan Details
Loan amountUpto 10Cr (Collateral) 1. Minimum loan amount - $10,000 2. Maximum loan amount - 100% of total cost of attendance
Margin moneyNil
Processing fee5.0% onwards Processing Fee is included in the loan amount. Moreover, students must remit a $50 fee to Prodigy in order to obtain the sanction letter.
Processing time5 Days 3-5 working days
Loan tenure20 Years (7, 10, 15 or 20 years)
Prepayment chargesNil
Repayment holidayRepayment starts after 6 months of course completion. No repayment during the moratorium period.
Countries coveredProdigy Finance eligible countries includes UK, Australia, France, Germany and more.

Looking forSparkLogoFaster and
streamlined Process?

100% Transparency

100% Free

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Our education loan counsellors will stay by your side every step of the way and recommend the best partner and guide you through the loan applying and sanctioning process.

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Prodigy Finance Abroad Education Loan Eligibility

You must plan to attend a school and course it supports. At present, Prodigy Finance funds over 900 schools worldwide, but its services are limited to the professions of business, public policy, law, medicine, science, technology, engineering and math (STEM). You've got to prepare to study overseas. In a different country from where you live, you must prepare to attend school. However, you will not be eligible if you have been living in the country you choose to study in for less than a year before you apply. You're from one of the 150 countries funded by Prodigy Finance. There are several countries, regions, and states of the United States and Canada under which the company is unable to lend.

TypeRequirement
Prodigy Finance Eligibility1. You must prepare to study in a foreign country. You must prepare to attend school in a country other than your own. If you have lived in the nation you want to study in for less than a year before applying, you will not be eligible. 2. You're from one of Prodigy Finance's 150 funded nations. The company is unable to lend in a number of countries, regions, and states in the United States and Canada.

Benefits of Prodigy Education Loan

No Need Of A Co-Applicant
Prodigy approves huge loans without requiring collateral or a co-signer. The student's academic profile and the college to which he has been accepted determine the loan's terms.
Money With No Margin
Education loans from Prodigy Finance can cover up to 100% of costs. As a result, you will not be responsible for any portion of the overall cost of your international education. Prodigy loans cover all expenses, including tuition and living expenses, as well as a caution deposit/building fund/refundable deposit.
A Quick Loan Process
Prodigy Finance Education loan processing time is substantially faster in comparison to other financial organisations. Within 5 days of submitting all paperwork via UniCreds, conditional loan approval can be received.
Period Of Repayment
The repayment period for the Prodigy student loan is up to 20 years, with repayment beginning six months after college course have ended.

Benefits Of Getting Your Education Loan Through UniCreds

Higher Chance Of Approval
By applying for your education loan through UniCreds, you are increasing your chances of approval. Generally, banks dismiss applications if they find any missing documents, property issues, or any other problem. With UniCreds, we will immediately reach out to Prodigy Finance officials and find the best solution.
Online Service
With UniCreds, there’s no need to visit the branch to submit your documents. Simply visit the UniCreds website and upload your documents from the comfort of your home. You can also enjoy step-wise updates via notifications.
No Cost To You
All our education loan services are completely free of cost.
Collateral Free Loans
Through UniCreds, you can avail education loans without offering any collateral. Loan sanctions depend entirely on the student's academic profile and the university he/she has got admission in.
Free Loan Assistance
UniCreds will walk you through the whole education loan application, approval, and distribution process. Therefore, you may leave all your education financing related issues to us. Our education loan counsellor (ELC) will explain the complete process in detail and will aid you in equipping all the prerequisites.

Get Guidance at every step of your loan application

We ensure 100% transparency throughout the education loan process.Our education loan counsellors will stay by your side every step of the way.

Need Guidance Faster? Call us at:

phone

18001217661

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Need Guidance Faster? Call us at:

phone

18001217661

How to Apply For a Prodigy Education Loan

Step 1: Contact UniCreds and inform our education loan adviser of your intent to begin the procedure, or apply straight online.

Step 2: UniCreds will provide you your Prodigy account login information and a link to log in to your account within 6 business hours. Follow the on-screen directions to fill out your personal and academic information, upload your documents, and submit your application once you've logged in.

Step 3: It only takes a few minutes to validate your information and papers after you've submitted your application. A conditional loan confirmation message will appear on your dashboard if everything is in order. You'll also receive an email with your loan approval letter, which you can use to apply for a student visa.

Step 4: Once the Prodigy loan has been approved and the online education loan agreement has been signed, all of your cash will be sent to your university as needed.

Looking forSparkLogoFaster and
streamlined Process?

100% Transparency

100% Free

unicreds

Our education loan counsellors will stay by your side every step of the way and recommend the best partner and guide you through the loan applying and sanctioning process.

unicreds-scholar-girl

Documents Required for an Abroad Education Loan By Prodigy Finance

TypeDocuments Required
Documents Required1. Identification documents such as a passport, driver's licence, or another government-issued identification document. 2. Address evidence, such as a water bill, an energy bill, bank paperwork, or a lease agreement. 3. Proof of acceptance: Any communication from your university confirming your acceptance into your programme. 4. Credit Report 5. Income Verification (if applicable). 6. Evidence of Savings (if applicable). 7. Proof of Scholarships or Sponsorship from a Company (if applicable).

Education Loan Repayment for Prodigy Finance

After completing the course for 6 months, the repayment programme will begin. There will be no repayment during the moratorium period. The repayment period is either 7, 10, 15, or 20 years. There is no prepayment penalty when imposed on Prodigy Education loan.

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Years
Months
Months

The displayed EMI amount is approximate & is subject to change based on various factors.

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Monthly EMI
0
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Principal Amount
1,600,000
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Total Interest
0
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Total Amount
0
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What our Students say about us

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Frequently Asked Questions

Yes, both tuition and living expenses are covered by Prodigy Student loan.
The Annual Percentage Rate, or APR, is a percentage that represents the real annual cost of funds over the course of a loan's duration. This includes any fees or additional costs incurred as a result of the loan.
Prodigy finance education loan interest rate ranges from 6.7% to 11%, with an average of 8.4%.
No, there is no penalty for paying off a Prodigy Finance school loan early.
On Prodigy education loans, there is no margin money.