Starting at 12%
5% of Loan Amount
Upto 15%
24x7 Loan Services understands that the process of education loan for abroad studies can be difficult. Especially to those who don’t have any collateral or co-applicant to support their application. To help such students turn their dreams into reality, 24x7 Loan Services has partnered with Prodigy Finance.
Established in 2007, Prodigy Finance is a UK-based financial institution that has revolutionized the education loan process while maintaining the highest quality of service. Prodigy Finance is founded on the philosophy that funding shouldn't be a barrier to education. They have been helping students for the past 16 years, based on their academic profile, get study abroad education loan without any collateral or co-applicant. If you’re thinking of joining this cohort of international students funded by Prodigy Finance, 24x7 Loan Services is the apt place to contact.
There are more than 1051 institutes spread over 19 countries for which Prodigy can provide loans to students from India. In the table below you can find some of the features in case you choose to take a loan from Prodigy Finance.
| Feature | Detail |
|---|---|
| Loan Amount | Upto 100,000 USD |
| Interest Rate | 12% - 14% |
| Interest Rate Type | Floating |
| Minimum Income (Co-Applicant) | Not Required |
| Repayment | Simple Interest only, during the course & during 6 Month grace period, EMI afterward |
| Processing fees | Upto 5%, added to loan amount |
| Other Charges | Nil |
| Margin money* | 0 |
| Loan Tenure | Upto 10 years |
| Processing Time | Upto 7 days |
| Prepayment Penalty | No Penalty |
Below are some criteria that you need to ensure so that you can be eligible for taking a loan from Prodigy Finance.
You must prepare to attend school in a country other than your own.
You must plan to do a Master’s program, as Prodigy does not provide loans for bachelor’s programs.
You must reside in a country that is supported by Prodigy Finance. To find the countries that are not supported by Prodigy Finance, Click Here!
Your University or College with the desired course of study must be on the approved list as published by Prodigy Finance. Check Here, the list of schools that are approved by Prodigy.
There are not many requirements for taking a loan from Prodigy Finance and thus the list of documents is also not very exhaustive. The basic documents that you will need to apply abroad education loan from Prodigy are -
Proof of Identity: This is a copy of your valid passport in a readable format.
Proof of Address: This document should display your name and residential address, matching what you stated in your application.
Your school admission letter so that Prodigy can verify the university and the course.
Credit report is also required.
Prodigy offers overseas education loans for the following courses:
STEM (Science, Technology, Engineering, Mathematics)
Business
Public Policy
Law
Health Sciences
Economics
Getting your Prodigy Finance Education Loan Through 24x7 Loan Services
24x7 Loan Services aims to provide its customers with the best education loan product available in the market. However, if you found a better option, 24x7 Loan Services will pay the difference in interest rates throughout the duration of your education loan
entire process of Prodigy Finance abroad education loan is online so the borrower doesn't have to visit the company even once.
your loan will be sanctioned within 7 days after all the documents have been submitted.
24x7 Loan Services will assist you in your entire loan process without any additional cost.
If you are looking to secure an abroad education loan from Prodigy Finance, you can apply online at their website. However, for a hassle-free application process, you can choose to apply for your education loan through 24x7 Loan Services.
24x7 Loan Services is an online platform designed to assist Indian students in financing their education abroad. To start your process with us all you need to do is check your loan eligibility and leave the rest to us!
Yes, Prodigy Finance covers both tuition fees and living expenses.
APR or Annual Percentage Rate is expressed as a percentage that represents the actual yearly cost of funds over the term of a loan. This encompasses any fees or additional costs associated with the loan.
The average APR rate for Prodigy Finance abroad education loan is 14.96%.
No, there is no prepayment penalty levied on Prodigy Finance education loan.
No, there is no margin money on Prodigy education loans.
Repayment tenure of abroad education loan from Prodigy is up to 15 years.