Providence Finance IndiaProdigy Finance In India

Prodigy Finance was founded with the viewpoint that funding shouldn’t be a hindrance to education. It was established in 2007 by three MBA students as they recognized that the existing banks do not provide at par the international spending requirements of borrowers. Thus they made it their mission to make quality education accessible to everyone redefining the student loan market. Soon, the firm was able to eliminate some of the drawbacks of the traditional banking system in providing international education loan such as collateral, co-borrower, pre-payment penalties and so on.

More than 13,600 students have been served with funds to meet their expenses incurred in postgraduate education. As of 2018, students have borrowed about $628m from Prodigy Finance India. Prodigy Finance focuses on helping candidates with international educational loans that cater to the needs of what is required. This article will let you explore more about the process and loan details.

Below we have List of Contents that help you dive into the required category.

Prodigy Finance Loan

Education loan plays a major role in helping a student achieve his/her dream of obtaining quality higher education. Though it has lower interest rates when compared to other loans, the process to apply for a student loan is complicated especially when we talk about international education loans. In traditional bank settings, there are many documents and security procedures required to apply for an international loan which can be mind-boggling for a student. As Prodigy Finance was established to overcome the loopholes of the traditional banking system, there are plenty of benefits for the students if they procure a loan from such private financial services.

Many students have benefitted from Prodigy Finance Loan. Some of the benefits of Prodigy Finance are as follows

  • The repayment starts only 6 months after the class ends.
  • No co-signer or collateral is required.
  • There are no penalties for pre-payment/ early payment
  • Eligibility across 150 countries
  • Member benefits for the community
  • Scholarship benefit for the selected students
  • Supports low ranked School/ Colleges which were denied by other Banks in the market
  • Hassle free online process and can be finished in 30 minutes.
  • Your status will be updated within a week whether you are qualified or not.
  • You can reduce your loan amount before arriving at the host country, once it is approved.
  • Prodigy Ambassadors will be there in your college throughout the year to assist you regarding the Prodigy Finance Loan doubts and benefits.

Prodigy Finance Loan Eligibility

There is a certain eligibility criterion for students to avail the Prodigy Finance Loan. Kindly go through the following points to get a clear understanding of the eligibility criterion. 

  • Candidate must have the admission letter from the University
  • This scheme is only for Post Graduation/ Masters Students.
  • Candidate should be from one of the countries it supports. (Indian citizens are eligible)
  • Candidate should be admitted to a school and programme it supports. You can check List of Prodigy supported schools.
    School should be located outside the country of residence of the candidate.
  • There are some exceptions:
  • If you have lived in a foreign country for less than 1 year, then you are eligible.
  • However, U.K. residents are eligible to study in the U.K.
  • U.S. residents are eligible to study in the U.S. If you are living in U.S. state and are not a U.S. citizen or permanent resident when you apply for a loan.
  • Non-permanent residents who have stayed or worked in the U.S for more than 7 years are also not eligible.

Prodigy Finance Interest Rate

Prodigy Finance has different interest rates for different categories that vary due to certain factors. You will be able to find the details related to the Prodigy Finance Interest Rate below.

  • Prodigy offers loans to the students at an average rate of 7.8% which is above the Euribor (the Euro Interbank Offered Rate).
  • Prodigy variable APR is 9.05%. APR is the Annual Percentage Rate which consists of Interest rate and any fees associated with it. Interest payable is calculated based on a fixed margin added to a base rate.
  • The base rate is subjected to vary from time to time according to the market fluctuation, it changes throughout your term of the loan.
  • The APR is approximately 8.22% which includes admin fee of 2.5% which is required to process the loan and it varies for each school. These values are subjected to change according to market fluctuations. 

Prodigy Finance Scholarship

There are 10 scholarships available as part of the Prodigy Finance Scholarship Programme, each of them valued at US $10,000. In addition, there is one more scholarship which is awarded to the female engineering students. However, female engineering students are eligible to apply under both the categories but can receive only one of these scholarships, not both.

Prodigy Finance Scholarship Eligibility

  • The applicants who have reached a loan approval status are eligible to apply for the scholarship.
  • The applicants must be accepted to a college in the US, UK, Spain or France.

Prodigy Finance Scholarship Judging Criteria

  • Merit-Based Criteria: Measured by your GMAT/ GRE/ LSAT/ EA score.
  • Measured by the applicant’s declared pre-study salary and advance rate.
  • Provision of accurate answers to questions regarding financial literacy and loan terms.
  • Subjective criteria: Your motivational paragraph which will be reviewed by the panel of judges and it is required to demonstrate substantive reasoning for you to receive a scholarship and the reasoning how the scholarship will impact your higher education experience.

Prodigy Finance Refinance

Prodigy Finance also provides you with an opportunity to save thousands by refinancing your international loan. It works by paying off your existing loan and replace it with a lower rate that saves you money. So if you feel like your current loan has a higher interest rate or you are attracted with any of the features your existing financier fails to provide you can always replace it with Prodigy Finance.

Some of the benefits of refinancing your existing loan are as follows

  • You can choose flexible loan terms.
  • Release the co-signer.
  • Consolidate your student loan.
  • You are allowed to make early repayments without any extra fees.

Prodigy Finance Community

As it is involved in making students study overseas, some benefits have been devised in order to reduce complexity. Once students finish the loan application process then they are given access to benefits and services to make sure the smooth transition to campus. The services include assisting you with the visa application, preparing finance for the international move, travel tips from the experts, assistance to get settled in your new home and so on.

Prodigy Finance Career Services

The career experts have designed a masterclass in landing a job which is designed specifically for the community members. The interactive and practical session provides students with the necessary assistance in the various phases of getting their dream job. The sessions make you capable of attending the interview confidently and tackle it easily.

Prodigy Finance Referral

It provides you with an opportunity to earn amazon voucher of USD $150 for referring a friend for the international student loan at Prodigy finance. However, the maximum rewardable referrals are up to two. This programme is open to anyone registered on the official website. You are not required to apply for a loan to participate in it. A referral is successful only when your friend’s Prodigy loan has been approved.

Prodigy Finance India Contact Number

For further details, you can dial 000 800 9190 242 from India. The operational hours are from Monday to Friday: 06:00 - 22:00 GMT.

For more details on an education loan or general inquiry you can mail your query to

List of Prodigy supported Schools/ Colleges/ Universities

  1. Arizona State University - Carey School of Business
  2. Arizona State University - Ira A. Fulton Schools of Engineering
  3. Babson College - Olin School of Business
  4. Berlin School of Creative Leadership
  5. Boston College - Carroll School of Management
  6. Boston University - College of Engineering
  7. Boston University - Questrom School of Business
  8. Boston University - School of Law
  9. Brigham Young University - Ira A. Fulton College of Engineering and Technology
  10. Brigham Young University - The Marriott School of Business
  11. California Institute of Technology - School of Engineering and Applied Science
  12. Carnegie Mellon University - College of Engineering
  13. Carnegie Mellon University - Department of Statistics
  14. Carnegie Mellon University - Heinz College School of Information Systems and Management
  15. Carnegie Mellon University - Heinz College of Public Policy
  16. Carnegie Mellon University - School of Computer Science
  17. Carnegie Mellon University - Tepper School of Business
  18. China Europe International Business School
  19. Chinese University of Hong Kong - CUHK Business School
  20. City University - Cass School of Business
  21. Columbia University - Columbia Business School
  22. Columbia University - Columbia Law School
  23. Columbia University - School of International and Public Affairs
  24. Columbia University - The Fu Foundation School of Engineering and Applied Science
  25. Cornell University - School of Hotel Administration
  26. Cornell University - College of Engineering Cornell University - Cornell Institute for Public Affairs
  27. Cornell University - Law School
  28. Cornell University - SC Johnson College of Business
  29. Cranfield University - Cranfield School of Management
  30. Cranfield University - School of Engineering
  31. Dartmouth College - Thayer School of Engineering
  32. Dartmouth College - Tuck School of Business
  33. Duke University - Fuqua School of Business
  34. Duke University - Pratt School of Engineering
  35. Duke University - Sanford School of Public Policy
  36. Duke University - School of Law
  37. EDHEC Business School
  38. Emory University - Department of Mathematics and Computer Science
  39. Emory University - Goizueta Business School
  40. Emory University - School of Law
  41. Erasmus University - Rotterdam School of Management
  42. European School of Management and Technology
  43. George Washington University - School of Business
  44. George Washington University - School of Engineering & Applied Science
  45. Georgetown University - Law Center
  46. Georgetown University - McCourt School of Public Policy
  47. Georgetown University - McDonough School of Business
  48. Georgetown University - School of Foreign Service
  49. Georgia Institute of Technology - College of Computing
  50. Georgia Institute of Technology - College of Engineering
  51. Georgia Institute of Technology - Scheller College of Business
  52. Grenoble Ecole de Management
  53. HEC Paris
  54. Harvard University - Harvard Business School
  55. Harvard University - Harvard Law School
  56. Harvard University - John A. Paulson School of Engineering
  57. Harvard University - Kennedy School of Government
  58. Hong Kong University of Science and Technology - HKUST Business School
  59. IE University - IE Business School
  60. IMD Business School
  61. INCAE Business School
  62. INSEAD
  63. Imperial College London - Imperial College Business School
  64. Indian School of Business
  65. Indiana University - School of Informatics and Computing
  66. Indiana University - School of Public and Environmental Affairs
  67. Indiana University - Kelley School of Business
  68. Indiana University - Maurer School of Law
  69. Johns Hopkins University - Whiting School of Engineering
  70. Lancaster University - Lancaster University Management School
  71. London Business School
  72. Manchester Business School
  73. Mannheim Business School
  74. Massachusetts Institute of Technology - School of Engineering
  75. Massachusetts Institute of Technology - Sloan School of Management
  76. McGill University - Desautels Faculty of Management
  77. Michigan State University - Broad College of Business
  78. Michigan State University - College of Engineering
  79. Nanyang Business School
  80. National University of Singapore - Lee Kuan Yew School of Public Policy
  81. National University of Singapore - NUS Business School
  82. New York University - Center for Data Science
  83. New York University - Courant Institute of Mathematical Sciences
  84. New York University - School of Law
  85. New York University - Stern School of Business
  86. New York University - Tandon School of Engineering
  87. New York University - Wagner School of Public Service
  88. North Carolina State University - College of Engineering
  89. Northwestern University - Kellogg School of Management
  90. Northwestern University - McCormick School of Engineering
  91. Northwestern University - Pritzker School of Law
  92. Ohio State University - College of Engineering
  93. Ohio State University - Fisher College of Business
  94. Pennsylvania State University - College of Engineering
  95. Pennsylvania State University - College of Information Sciences and Technology
  96. Pennsylvania State University - Smeal College of Business
  97. Princeton - School of Engineering and Applied Science
  98. Purdue University - College of Engineering
  99. Purdue University - Department of Computer Science
  100. Purdue University - Krannert School of Management
  101. Queen's University - Smith School of Business
  102. Ramon Llull University - ESADE Business School
  103. Rice University - George R. Brown School of Engineering
  104. Rice University - Jones Graduate School of Business
  105. Rutgers University/The State University of New Jersey - School of Business
  106. Rutgers University/The State University of New Jersey - School of Engineering
  107. SDA Bocconi School of Management
  108. Shanghai Jiao Tong University
  109. Southern Methodist University - Cox School of Business
  110. Stanford University - Stanford Graduate School of Business
  111. Stanford University - Stanford Law School
  112. Stanford University - Stanford School of Engineering
  113. Temple University - Fox School of Business
  114. Texas A&M University - Dwight Look College of Engineering
  115. The Lisbon MBA - Católica|Nova
  116. The University of Edinburgh - Business School
  117. Tias Business School
  118. The University of Alberta - School of Business
  119. The University of Bath - School of Management
  120. The University of British Columbia - Sauder School of Business
  121. The University of California Berkeley - College of Engineering
  122. The University of California Berkeley - Goldman School of Public Policy
  123. The University of California Berkeley - Graduate School of Education
  124. The University of California Berkeley - Haas School of Business
  125. The University of California Berkeley - School of Information
  126. The University of California Berkeley - School of Law
  127. The University of California Irvine - Donald Bren School of Information and Computer Sciences
  128. The University of California Irvine - Henry Samueli School of Engineering
  129. The University of California Irvine - Merage School of Business
  130. The University of California Irvine - School of Law
  131. The University of California Los Angeles - Anderson School of Management
  132. The University of California Los Angeles - Luskin School of Public Affairs
  133. The University of California Los Angeles - School of Engineering and Applied Science
  134. The University of California Los Angeles - School of Law
  135. The University of California San Diego - Jacobs School of Engineering
  136. The University of California San Diego - Rady School of Management
  137. The University of California Santa Barbara - College of Engineering
  138. The University of Cambridge - Judge Business School
  139. The University of Cape Town - Graduate School of Business
  140. The University of Chicago - Booth School of Business
  141. The University of Chicago - Department of Computer Science
  142. The University of Chicago - Harris School of Public Policy
  143. The University of Chicago - Law School
  144. The University of Connecticut - School of Business
  145. The University of Connecticut - School of Engineering
  146. The University of Hong Kong - Faculty of Business and Economics
  147. The University of Illinois Urbana-Champaign - College of Business
  148. The University of Illinois Urbana-Champaign - College of Engineering
  149. The University of Illinois Urbana-Champaign - School of Information Sciences
  150. The University of Iowa - College of Engineering
  151. The University of Iowa - College of Law
  152. The University of Iowa - Department of Computer Science
  153. The University of Iowa - Tippie College of Business
  154. The University of Maryland - A. James Clark School of Engineering
  155. The University of Maryland - College of Information Studies
  156. The University of Maryland - Francis King Carey School of Law
  157. The University of Maryland - Smith School of Business
  158. The University of Michigan - College of Engineering
  159. The University of Michigan - Ford School of Public Policy
  160. The University of Michigan - Ross School of Business
  161. The University of Michigan - School of Information
  162. The University of Michigan - School of Law
  163. The University of Michigan-Dearborn - College of Engineering & Computer Science
  164. The University of Minnesota - Carlson School of Management University of Minnesota - College of Science & Engineering
  165. The University of Minnesota - Law School
  166. The University of Navarra - IESE Business School
  167. The University of North Carolina - Department of Computer Science
  168. The University of North Carolina - School of Law
  169. The University of North Carolina - Kenan-Flagler Business School
  170. The University of North Carolina - School of Information and Library Sciences
  171. The University of Notre Dame - College of Engineering
  172. The University of Notre Dame - Law School
  173. The University of Notre Dame - Mendoza College of Business
  174. The University of Oxford - Blavatnik School of Government
  175. The University of Oxford - Said Business School
  176. The University of Pennsylvania - Fels Institute of Government
  177. The University of Pennsylvania - Law School
  178. The University of Pennsylvania - School of Engineering and Applied Sciences
  179. The University of Pennsylvania - The Wharton School
  180. The University of Pittsburgh - Katz School of Business
  181. The University of Pittsburgh - Swanson School of Engineering
  182. The University of Rochester - Hajim School of Engineering & Applied Sciences
  183. The University of Rochester - Simon Business School
  184. The University of San Diego - School of Business Administration
  185. The University of South Carolina - College of Engineering & Computing
  186. The University of South Carolina - Moore School of Business
  187. The University of Southern California - Gould School of Law
  188. The University of Southern California - Marshall School of Business
  189. The University of Southern California - Price School of Public Policy
  190. The University of Southern California - Viterbi School of Engineering
  191. The University of Strathclyde - Business School
  192. The University of Texas at Austin - School of Information
  193. The University of Texas at Austin - Cockrell School of Engineering
  194. The University of Texas at Austin - McCombs School of Business
  195. The University of Texas at Austin - School of Computer Science
  196. The University of Texas at Austin - School of Law
  197. The University of Texas at Dallas - Erik Jonsson School of Engineering & Computer Science
  198. The University of Texas at Dallas - Naveen Jindal School of Management
  199. The University of Toronto - Faculty of Information
  200. The University of Toronto - Department of Computer Science
  201. The University of Toronto - Faculty of Applied Science & Engineering
  202. The University of Toronto - Rotman School of Management
  203. The University of Virginia - Darden School of Business
  204. The University of Virginia - School of Engineering and Applied Sciences
  205. The University of Virginia - School of Law
  206. The University of Washington - College of Engineering
  207. The University of Washington - Foster School of Business
  208. The University of Washington - School of Information
  209. The University of Washington - School of Law
  210. The University of Washington - The Evans School of Public Policy and Governance
  211. The University of Wisconsin-Madison - College of Engineering
  212. The University of Wisconsin-Madison - Department of Computer Science
  213. The University of Wisconsin-Madison - School of Business
  214. Vanderbilt University - Law School
  215. Vanderbilt University - Owen Graduate School of Management
  216. Vanderbilt University - School of Engineering
  217. Virginia Tech - College of Engineering
  218. Vlerick Business School
  219. Washington University - Olin Business School
  220. Washington University - School of Engineering & Applied Science
  221. Washington University - School of Law
  222. Western University - Ivey Business School
  223. Yale University - Yale Law School
  224. Yale University - Yale School of Management
  225. York University - Schulich School of Business
  226. Rice University (Brown)
  227. Princeton University
  228. Harvard University
  229. University of Colorado - Boulder
  230. Boston University
  231. University of California - Davis
  232. Vanderbilt University
  233. Yale University
  234. Northeastern University
  235. Rensselaer Polytechnic Institute
  236. University of Virginia
  237. University of Florida
  238. Iowa State University
  239. University of Rochester
  240. University of Delaware
  241. University of Notre Dame
  242. Case Western Reserve University
  243. Washington University in St. Louis
  244. Brown University
  245. University of Arizona
  246. Colorado School of Mines
  247. Michigan State University
  248. University of Dayton
  249. University of Massachusetts-Amherst
  250. Lehigh University
  251. University of Tennessee-Knoxville
  252. University of Utah
  253. University of Illinois-Chicago
  254. Auburn University
  255. University of Connecticut
  256. Colorado State University
  257. Stony Brook University-SUNY
  258. Tufts University
  259. University of Buffalo- SUNY
  260. University of California - Riverside
  261. University of Iowa
  262. The University of Texas at Arlington
  263. Clemson University
  264. Drexel University
  265. University of Central Florida
  266. Illinois Institute of Technology
  267. Oregon State University
  268. Syracuse University
  269. Rochester Institute of Technology
  270. University of North Carolina - Chapel Hill
  271. Washington State University
  272. Michigan Technological University
  273. University of California- Santa Cruz
  274. New Jersey Insitute of Technology
  275. University of Cincinnati
  276. Missouri University of Science & Technology
  277. University of Alabama - Huntsville
  278. University of Missouri
  279. University of South Florida
  280. Texas Tech University
  281. University of Kansas
  282. University of Kentucky
  283. University of Nebraska-Lincoln
  284. Worcester Polytechnic Institute
  285. Louisiana State University - Baton Rouge
  286. University of New Mexico
  287. University of Oklahoma

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