To be eligible for the Prodigy Finance student loan, you must not have lived in the chosen nation for less than a year before applying. Your country should also be one of the 150 nations that are supported by Prodigy Finance. It's important to note that the company cannot offer loans in specific countries, regions, and states within the United States and Canada.
Prodigy Finance
International NBFC
7 days Loan Processing Time
Margin
NA
Processing Fees
5%
Collateral
NA
Non Collateral
Upto 80 lakhs
Repayment Tenure
Upto 10 Years
Cosiger Needed
No
Collateral Loans
NA
Non Collateral Loans
Up to 80 lakhs
Features of Prodigy Finance
Education Loan Abroad
We understand that getting an education loan for studying abroad can be a hassle, especially for those without collateral or a guarantor. To make this process easier for you, Lorien has partnered with Prodigy Finance Education Loan, a UK-based financial organization, established in 2007.
They make it possible for students to secure study abroad education loans without the need for collateral or a co-applicant, based on their academic background.
Loan Margin: NA
Processing Fees: 5.0%
| Features | Education Loan Details |
|---|---|
| Loan amount | Upto ₹80 lakhs (Non Collateral) |
| Margin money | NA |
| Interest rate | 13.99% |
| Processing fee | 5% |
| Processing time | Upto 7 Working Days |
| Loan tenure | Upto 10 Years |
| Prepayment charges | No Charges* |
| Countries covered | Prodigy offers abroad education loans to study in over USA, Canada, the UK |
| Moratorium | Course Duration + 6 months |
Benefits of Avanse Education Loan
No Co-applicant needed
Prodigy Finance provides loans without collateral or a guarantor. The loan term is determined by your academic profile and your chosen college.
No Margin
Prodigy Finance offers education loans that cover up to 100% costs. This means you won't have to worry about any part of your study abroad expenses. These loans cover everything, starting from tuition and living expenses to caution deposit/building fund/any refundable deposit.
Hassle Free Fast Process
Getting a Prodigy Finance Education loan is much quicker when compared other financial institutions. If you submit all the required paperwork through Lorien, you can expect conditional loan approval within just 5 days.
Repayment Period
You can repay the Prodigy student loan for up to 20 years. The repayment starts six months after you finish your college course.
How To Apply For Prodigy
Education Loan For Abroad Studies?
You can get in touch with our team of experts by filling out the form on our website. Lorien will schedule a callback with you and guide you through the process.
From helping you upload documents online to presenting it to the banks, Lorien will help you throughout the application process.
Once all your documents are uploaded & KYC is done, you can expect your loan to get sanctioned within a few working days.
Why Choose Lorien To Get Education Loan From Prodigy?
Higher Chances of Approval: Generally, banks dismiss education loan applications if they find any missing documents, property issues, or other issues. But with Lorien, you have access to experts who can reach out to the bank and help you resolve your queries on time.
Ease of Use: Students can easily contact us by filling out a form on the website and our most trusted experts will reach out to them to help them with any query. The process is simple and efficient to make your study abroad dreams a reality.
100% Free Assistance: Our services are free of cost and we do not charge our students for helping them apply for their education loans.
Quicker Loans: Our experts make sure that your education loan is sanctioned as early as possible. We also keep track of the application and make sure that all the requirements from your end are fulfilled.
Build your dream career with us.
Fill this form and our experts will contact you
Eligibility Criteria For Prodigy Education Loan Abroad
Eligibility Criteria for Student
- You have not lived in the chosen nation for less than a year before applying
- Your country belongs to one of Prodigy Finance's 150 funded nations
For Applicant:
- Identity proof (PAN Card, driving license, passport, aadhar card, voter card)
- Proof of address (Electricity bill, Telephone bill, or Ration card)
- Admission Letter or Admit Card or any communication from your university confirming your acceptance into the program
- Credit Report
- Income Verification (if applicable)
- Savings Proof (if applicable)
- Scholarships or Sponsorship Proof from a Company (if applicable)
Documents Required
Repaying the Loan
The repayment plan starts after a 6-month of completion of course. You won't need to make any repayments during this moratorium period. You can choose a repayment period of either 7, 10, 15, or 20 years. Also, there's no penalty if you decide to prepay your Prodigy Education loan.
FAQs
Bringing answers to your questions
What are the eligibility criteria for Prodigy Finance's education loans for studying abroad?
What is the interest rate on education loans for studying abroad, and how is it calculated?
Prodigy Finance offers education loans with very low-interest rates. The exact interest rate may vary, and it is advisable to contact them directly or visit their official website for the most up-to-date information.
What is the process for applying for a Prodigy Finance education loan for studying abroad?
You can apply for a Prodigy Finance education loan for studying abroad by getting in touch with Lorien. Fill out the form on our website, and our experts will schedule a callback with you. They will guide you through the application process, help you upload necessary documents online, and present the application to Prodigy Finance. Once all documents are uploaded and KYC is done, the loan is expected to be sanctioned within a few working days.
Does Prodigy Finance offer any special benefits or interest rate reductions for exceptional academic performance?
Prodigy Finance's education loans are known for their low-interest rates, providing financial support for students aspiring to study abroad. While Prodigy Finance may not explicitly mention special benefits for exceptional academic performance, Lorien, as your trusted education loan partner, works diligently to ensure you access the most favorable terms. By leveraging our expertise and relationships with financial institutions, Lorien assists you in securing the best interest rates available. Our commitment is to make your study abroad journey financially viable, offering personalized support to enhance your overall experience.
Is there a co-applicant or guarantor required for the loan?
No, a co-applicant is not required for Prodigy Finance's education loan.
What collateral or security is required for the loan?
Collateral or security is not required for Prodigy Finance's education loan.
View More
Lorien’s Success Stories
Real Dreams: Real Achievements
I'm Sambhavi, currently working at Deloitte. Lorien Finance helped me secure an education loan for my Master's in Business Analytics at the University...
Sambhavi
I want to express my utmost satisfaction and gratitude to Lorien Finance for their exceptional services....
Rachna
Thanks to Lorien Finance, I was able to secure an education loan without any hassle. Their online application process made it convenient for me to app...
Sharikha
I'm Sambhavi, currently working at Deloitte. Lorien Finance helped me secure an education loan for my Master's in Business Analytics at the University...
Sambhavi
I want to express my utmost satisfaction and gratitude to Lorien Finance for their exceptional services....
Rachna
Thanks to Lorien Finance, I was able to secure an education loan without any hassle. Their online application process made it convenient for me to app...
Sharikha
Finding suitable accommodation in a foreign country can be challenging, but Lorien Finance made it a breeze. Their partnership with reliable housing p...
Sriram
It was a good experience with Lorien Finance throughout the process they helped me in every step and made the process hassle-free and helped me to g...
Rama
It was a good experience with Lorien Finance throughout the process they helped me in every step and made the process hassle-free and helped me to g...
Ruchi
