Getting an education loan becomes stressful when eligibility depends on your university, course, or income potential. Many students aiming for global degrees discover that Prodigy Finance lends only to select postgraduate programs, while traditional banks still ask for collateral or co-signers.
That’s where Propelld offers an alternative, a transparent, RBI-registered NBFC that provides collateral-free loans for both Indian and international studies with quick digital approval.
This blog compares Propelld vs Prodigy Finance across six critical areas, interest rates, eligibility, collateral rules, processing time, margin money, and repayment flexibility, to help you make an informed choice before applying.
Looking for a fast, collateral-free loan with full coverage? Apply with Propelld now.
Quick Snapshot: Propelld vs Prodigy Finance
Here’s a quick comparison between Propelld and Prodigy Finance, covering everything from loan amount and collateral rules to repayment structure and eligibility.
Don't forget to check the co-applicant criteria. Our guide on Who Can Be a Co-Applicant for an Education Loan breaks down the eligibility and documents you'll need.
Get an Education Loan 10X Faster than Banks.
Propelld vs Prodigy Finance Education Loan Comparison
Let’s look at how Propelld and Prodigy Finance differ in their education loan offerings, focusing on loan amount, interest rates, eligibility, collateral rules, margin money, loan processing time, and repayment flexibility.
Loan Amount & Coverage
The first factor in choosing between Propelld and Prodigy Finance is the loan limit and what it covers.
Propelld: Finances domestic and international education, including coaching and upskilling courses. Offers collateral-free loans up to ₹1 Crore for abroad studies and ₹40 Lakhs for courses in India. Covers tuition, accommodation, living costs, travel, visa, and insurance, with 0% margin money, meaning the full cost is funded.
Prodigy Finance: Offers loans for international postgraduate programs such as MBA, MS, or STEM courses at select universities across the US, UK, and Canada. Provides up to 100% of the cost of attendance, disbursed directly to universities in USD.
How much education loan can I get for abroad studies with Propelld vs Prodigy Finance?
Students applying through Propelld can get up to ₹1 Crore collateral-free, while Prodigy Finance covers the entire cost of attendance for eligible postgraduate programs abroad.
Propelld vs Prodigy Finance Interest Rates
Interest rates are a major consideration in any education loan decision.
Prodigy Finance: Offers floating interest rates starting around 8.33%–12% p.a., depending on the applicant’s future earning potential, course, and university. Since the loans are disbursed and repaid in USD, repayments may vary with exchange-rate movements.
Propelld: Provides profile-based rates starting from 12% p.a. in INR. The lender openly discloses the Annual Percentage Rate (APR), including processing and service fees, ensuring transparency about the true cost of the loan.
Propelld’s INR-based structure eliminates forex risk, while Prodigy’s USD loans can fluctuate with market conditions.
Propelld vs Prodigy Finance Collateral Requirements
This comparison is especially relevant for students without assets to pledge.
Do I need collateral with Propelld vs Prodigy Finance?
Both lenders provide collateral-free loans. Propelld extends this advantage to domestic and international students, while Prodigy focuses on select postgraduate programs abroad.
Propelld vs Prodigy Finance Margin Money
Margin money is the amount students must contribute from personal savings.
Propelld: Offers 0% margin money, funding 100% of the education cost, including living and travel expenses.
Prodigy Finance: Also offers 0% margin, covering up to the entire cost of attendance, though coverage may vary slightly depending on university and country.
Both lenders remove the need for upfront contribution, helping students focus on their academic expenses without additional financial pressure.
Propelld vs Prodigy Finance Loan Processing Time
Loan approval timelines are crucial during admission and visa deadlines.
Propelld: Follows a fully digital, paperless process through its RBI-registered NBFC. Domestic loans are sanctioned in 48–72 hours, and abroad loans within 7 working days. Students are informed within 24 hours if additional documents are required.
Prodigy Finance: Processes applications in about 3–7 working days after document submission and admission confirmation. The process is also online but limited to its list of partner universities.
Propelld serves both Indian and international students with faster, predictable timelines, while Prodigy’s turnaround depends on course and institution.
Propelld vs Prodigy Finance Education Loan Eligibility
Eligibility determines who can apply and what programs qualify.
Propelld:
- Available for undergraduate, postgraduate, coaching, and upskilling courses.
- Loans offered for both India and abroad.
- Evaluates applications primarily on academic performance and repayment capacity.
Prodigy Finance:
- Available only for postgraduate students admitted to specific partner universities abroad.
- Does not require a co-signer or collateral.
- Evaluates eligibility based on the student’s future earning potential and university ranking.
Propelld provides wider access across education levels and geographies, while Prodigy’s focus is limited to postgraduate international courses.
Propelld vs Prodigy Finance Repayment Flexibility
Repayment structure and options can significantly affect post-study financial comfort.
Borrowers can prepay early under both lenders. Propelld often waives foreclosure fees for students facing hardship, while Prodigy allows interest-only payments during study with repayments starting post-graduation.
Support & Post-Sanction Experience
Propelld: Assigns each applicant a dedicated Single Point of Contact (SPOC) and provides a digital dashboard to track every stage, from application to disbursal. Queries are typically resolved within 24 hours.
Prodigy Finance: Offers a centralised, online support system managed through email and digital tickets.
Propelld’s localised and regulated approach provides personalised support, whereas Prodigy’s model suits tech-savvy students who are comfortable with global digital services.
Looking to understand the wider benefits education loans can provide beyond just financing? Explore Education Loan Benefits in India and Abroad 2025 to see how loans can support your education journey.
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Who Should Choose Propelld vs Prodigy Finance?
The right education loan depends on your study destination, course level, and financial background.
Here’s a quick guide to help you identify which lender fits your situation better:
Why Propelld Offers Better Overall Value for Students
While both lenders help students access education without collateral, Propelld provides broader eligibility, faster processing, and transparent INR-based financing, making it the more practical choice for most Indian students.
Here’s why Propelld stands out:
- Accessibility: Loans up to ₹1 Crore for abroad and ₹40 Lakhs for domestic studies, completely collateral-free.
- Speed: Approvals in days, not weeks, 48–72 hours for domestic loans and within 7 working days for international.
- Transparency: APR disclosed upfront with no hidden costs or foreign currency fluctuations.
- Flexibility: Multiple repayment options, moratorium during study, and foreclosure charges often waived in genuine cases.
- Coverage: Finances tuition, living, travel, insurance, and visa — 100% of your total education cost.
- Support: RBI-regulated NBFC with a dedicated SPOC and 24-hour query resolution.
Ready to fund your global education with speed and confidence? Apply for a Propelld Education Loan today.
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