Interest Rate
Starting from 8.47 - 13.0 %
Processing Fees
5%
Margin Money
Nil
Simple FIVE step digital process to get a education loan
Use our free tool to verify your eligibility and receive conditional loan offers.
Connect with our dedicated loan counselor for a better understanding of the process.
Submit your documents or complete the necessary forms for bank verification and evaluation.
GyanDhan expert's negotiate to secure the most competitive interest rates and the highest possible loan amount for you.
Recieve your final approval and sanction letter, ensuring prompt fund disbursement from the lender
All you need to know about Prodigy Finance education loan for studying abroad
Study Abroad Expert
GyanDhan 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, GyanDhan has partnered with Prodigy Finance.
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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, GyanDhan is the apt place to contact.
There are more than 1051 institutes spread over 19 countries (mainly the USA and Canada) that are eligible for the Prodigy education loan. In the table below, you can find some of the features in case you choose to take a Prodigy education loan.Â
| Feature | Detail |
|---|---|
|
Loan Amount |
Up to 100% cost to study |
| 8.47% - 13 % | |
|
Interest Rate Type |
|
|
Minimum Income |
Not Required |
|
Repayment |
Simple Interest only, during the course & during the 6-month grace period, EMI afterward |
|
Prodigy Finance upfront fee |
USD 500 (for the sanction letter) |
|
Prodigy Finance processing fee |
5% of the loan amount |
|
Other Charges |
No Charges |
|
0 |
|
|
Loan Tenure |
Up to 15 years |
|
Processing Time |
Up to 7 days |
|
Prepayment Penalty |
No Penalty |
*Prodigy Finance Interest rate is as of September 2025.
Below are some criteria that you need to ensure so that you can be eligible for Prodigy student loan.
You must prepare to attend school in a country other than your own.
You must plan to do a Master’s program, as Prodigy Finance does not provide loans for bachelor’s programs making it one of the most important Prodigy Finance eligibility.Â
You must reside in a country that is supported under Prodigy education loan. To find out Prodigy Finance eligible countries Click here!
Your University or College with the desired course of study must be on the approved list of Prodigy Finance education loans. Check Here, for Prodigy Finance University list.
Prodigy Finance recognizes that brilliance isn't limited to those with privileged backgrounds and abundant resources. Their "no collateral, no cosigner" solution marks a significant shift, allowing students from diverse backgrounds to access quality international education based solely on merit.
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The Fall 2024 Campaign, aims to offer special rates (starting at 12% IRR) to select profiles, with the objective of lowering interest rates for students. Eligibility for the campaign includes a select number of strong profiles applying for their first year of study in Fall 2024. Rate reductions are available on a first-come, first-served basis, underlining Prodigy Finance's commitment to making education accessible to all, regardless of their field of study.
There are not many requirements for taking a Prodigy loan and thus the list of documents is also not very exhaustive. The basic documents that you will need to apply for abroad education loan from Prodigy Finance are -Â
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 against Prodigy University list.Â
A credit report is also required.
Following are the courses that are eligible for the Prodigy education loan -Â
STEM (Science, Technology, Engineering, Mathematics)
Business
Public Policy
Law
Health Sciences
Economics
If you are looking to secure the Prodigy Finance education loan without collateral, you can apply online at their website. However, for a hassle-free application process, you can choose to apply for your education loan through GyanDhan.
Â
GyanDhan is an online platform designed to assist Indian students in financing their education abroad with many lenders one of which is Prodigy Finance. To start your process with us all you need to do is check your loan eligibility and leave the rest to us!
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Learn about:Â Prodigy Finance education loan disbursement process.
Getting Your Prodigy Finance Education Loan Through GyanDhan:
Guaranteed best loan:Â GyanDhan aims to provide its customers with the best education loan product available in the market. However, if you find a better option, GyanDhan will pay the difference in interest rates throughout the duration of your education loan
Completely online process:Â The entire process of Prodigy Finance education loan is online so the borrower doesn't have to visit the company even once.
Low turnaround time:Â your loan will be sanctioned within 7 days after all the documents have been submitted for Prodigy Finance education loan
Assistance from GyanDhan:Â GyanDhan will assist you in your entire loan process of Prodigy Finance education loan without any additional cost.
|
Please note: that Prodigy Finance will charge a prepaid fee of 500 USD once the loan has been approved. Only after the student pays this fee, a sanction letter will be issued. If the loan amount gets disbursed, 5% of the loan amount will be added to your principal amount. However, if an applicant decides to withdraw and submit a new application for a different school, they will need to pay the prepaid fees again for the new application. The fee already paid for the previous application will be directly refunded to the student. |
Estimate your monthly EMI with Prodigy Finance's interest rate. Adjust any value to suit your profile.
₹29,897
₹23,05,211
(Principal + Interest)
₹43,05,211
Calculate EMI to see product comparisons
Save taxes on your education loan interest under the old tax regime
Section 80E deductions for education loan interest are not available when filing taxes under the New Tax Regime. You must choose the Old Tax Regime to claim these benefits.
💡 Tip: Compare both regimes before filing taxes. For education loan borrowers, the Old Tax Regime often provides better tax savings due to Section 80E benefits.
Total Interest Payable
₹0
Over loan tenure
Your Tax Bracket
30%
Marginal tax rate
Estimated Tax Savings
₹0
Over 8 years
Pro Tip:
If you're in the 30% tax bracket, you could save approximately ₹0 over 8 years by claiming Section 80E deductions. This reduces your effective interest cost significantly!
* Tax savings are indicative and based on standard tax rates for FY 2024-25. Actual benefits may vary based on your total income, deductions, and applicable surcharges. Consult a tax advisor for personalized advice.
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