What is the interest rate for Prodigy Finance?

What is the interest rate for Prodigy Finance?

Prodigy Finance loan calculator 8.7\% Prodigy Finance fixed margin (fixed rate of interest) 8.9\% annual simple fixed margin plus a variable base rate (3-month USD LIBOR of 0.2\% as of 1st January 2021)

How is Prodigy interest calculated?

The formula for simple interest is: Outstanding principal balance x (margin + base) /365 x the days since your last transaction or days in the monthly cycle.

Can I refinance my Prodigy loan?

Prodigy offers student loan refinancing for those who aren’t U.S. citizens but work in the U.S. Borrowers can refinance through Prodigy without collateral or a co-signer. Prodigy is limited to only certain states and certain programs for eligibility.

Does Prodigy Finance reject loan applications?

You don’t need to be admitted to apply and you can submit multiple applications to explore your funding options for different schools or courses. Remember, a quote is just a provisional offer for funding and does not bind you to any kind of agreement with Prodigy Finance.

Is Prodigy Finance reliable Quora?

I work at Prodigy Finance and can confirm that we’re a credible, trustworthy lender that has funded over 14500 students from 132 countries. We have good relationships with more than 500 schools that we support around the world.

Is Prodigy financed in India?

Prodigy Finance India offers loans without any collateral/co-applicant, at modest interest rates to international students. In a nutshell, Prodigy Finance seeks to fill the gaping hole left by the shortages of domestic banking restrictions.

Is Prodigy Finance for Canada?

You’re from one of the 120 countries Prodigy Finance supports. There are some countries, regions, and U.S. and Canadian states in which the company is unable to lend.

Is HDFC credila good for education loan Quora?

HDFC Credila is a good firm to provide education loans. Also, they are quick to respond and resolve queries. Most importantly, they have provided really good services even during lockdown period. I would suggest you to never ever consider HDFC Credila for education loan.

How much loan can I get from Prodigy Finance Quora?

Since your tuition and living will be paid in USD, you’ll need to borrow an additional INR 7 lac to fund your education. This means your actual loan terms for a seven year loan term are: Initial loan amount = INR 40 lac. Additional cost = INR 7 lac.

Does Prodigy finance give loan for UK?

Prodigy Finance loans are available to students from roughly 150 countries. Students from the UK can also apply for loans for study in the UK. Acceptance is, of course, necessary to complete the process and receive a loan.

Does Prodigy Finance cover living expenses in Canada?

Does Prodigy Finance cover living expenses? Prodigy Finance covers up to 100\% cost of attendance, depending on your course and school. Funds will get disbursed directly to your school.

What is the interest rate for Prodigy Finance Quora?

The rate of interest – Starting off with the rate of interest as Prodigy finance fund in USD its 9.66\% rate of interest when converted to Indian rupee is equivalent to around 15\%. Plus you get a floating rate of interest with Prodigy finance. Currency fluctuation with INR depreciation.

What is the APR for Prodigy Finance?

10\% Prodigy Finance APR includes the effects of all financing costs (including impact of admin fee of 5\% of the total loan amount) Note: Prodigy Finance maximum loan amount that you’ll qualify for is based on your individual application, while the minimum loan amount is USD 15,000.

Is Prodigy Finance a good option for a student loan?

However, if you do not have collateral to pledge or a co-signer then a loan with a 10\% interest rate from Prodigy Finance is a good option. The lender has a list of schools that they support in every country, so to be eligible for a loan, your school should be on that list.

What is the rate of interest offered by SBI in Prodigy Finance?

The rate of interest offered starts at 8.3\% for women and 8.8\% for men, which is significantly less than what is offered by Prodigy Finance. Additionally, SBI offers a fixed rate of interest, that is, it will not be affected by the market conditions.

Do compound interest student loans have a higher APR?

Prodigy Finance education loans have simple interest while the student is studying. The student loan APR from lenders who use compound interest would be ~10bps (0.10\%) higher. If two financial products were identical, except for their disbursement schedule – loan products that require higher upfront disbursement will have a greater APR.