Knowledge fund in Asia to own reading abroad vs Prodigy Fund

Chloe Foden, Direct out of Profit within Prodigy Finance, comes to an end the 3-part collection for the around the globe MBA money because of the since the MBA funding alternatives for Indian students as well as the differences between delivering a training financing getting overseas studies from Indian financial institutions as opposed to dealing with an international lender for example Prodigy Financing.

In this article, Chloe invites Padmapriya (Indian scholar within HEC Paris) to generally share her experience and you can views to your individuals financial loans she analyzed before taking a call. Listed below are some alot more critiques off Prodigy Finance.

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By Chloe Foden

Padmt of doing the girl MBA at the HEC Paris. In the first place off Chennai, she learnt Computer system Technologies at College out-of Pune, and you can shortly after employed in the latest asking world for three age, she decided to shift advice and follow other appeal: business.

She need her time-to-go out connections becoming not only having servers, however with someone. Particularly, she wished to go after a marketing career throughout the deluxe items globe.

Padmasees luxury just like the an interesting community, in which revenue beliefs is actually switched on the direct; design and you may art try cherished more bulk efficiency. Additionally, she notices an incredibly guaranteeing market for it from inside the emerging economic climates such India.

When you look at the an interview having Prodigy Money, she told me you to by way of comprehensive research she knew a knowledgeable automobile to assist the girl get this community move is always to over her MBA at HEC Paris, in the trend resource worldwide.

She together with desired to sense an entirely more culture and you may meet people from different countries, which may be produced you can provided HEC’s 90 % in the world beginner body due to their MBA programme.

Money your MBA: Do you know the alternatives?

After are approved to the HEC Paris’s MBA Program – Padma’s basic and simply choices – it was time to deal with the next step on the highway so you’re able to this lady MBA: financing the woman education.

Very first she tested overseas degree loans during the India, where in actuality the bank rates of interest was indeed large down to expanding rising cost of living – finance companies she talked in order to considering prices regarding ranging from ten.5 % and you can thirteen.5 per cent. At the same time in the some of these banking institutions, with regards to the necessary loan amount, consumers is requested to include completely collateral – a barrier a large number of people are unable to beat.

Padma’s see is that “if you do not features excellent family members backing or if you features assets to demonstrate for it, it is extremely difficult to get overseas studies finance in India”.

“I was thinking about each of my personal choice, and Prodigy Fund arrived within exactly the right time”, she adds.

She learned throughout the HEC MBA Council you to Prodigy Money try within the talks to your providers college in the performing a loan program, and you will is extremely captivated. Because specialized agreement anywhere between HEC Paris and you will Prodigy Loans came compliment of, she used immediately.

Why Prodigy Money? Openness, and you may a simple process

I requested Padma to share with you the woman view and you will experiences away from applying to possess solution global education loan alternatives, and why she produced Prodigy Fund her final choice to finance the girl MBA.

“Banking institutions when you look at the India don’t offer the Apr. I heard about the Annual percentage rate the very first time whenever i checked brand new Prodigy financing promote and you may noticed that it’s a far more transparent way of connecting exactly how much your would wind up using.

Likewise, the procedure is somewhat shorter mind-numbing. I applied for fund inside India with banking institutions and the procedure had been most convoluted. I’d strategy the client relations department and you may inform them what I would like to do and they remain asking for files, plenty of records. That loan during the India would capture regarding 1 month and you may a great 1 / 2 of to come by way of.