Does Prodigy check cibil score?

Credit reports versus credit score for loans Because credit reporting is not consistent across all countries, at Prodigy Finance we consider your credit history over your credit score. As a responsible lender, we want to ensure our community members have taken care of their debt obligations in a reliable way.

Does education loan affect cibil score?

Does education loan affect CIBIL? Yes, your education loan can have a great effect on your CIBIL score as they are just like any loan and have to be repaid to keep up a good CIBIL score. Also, just like other loans, education loan is also reported to CIBIL and gets reflected on your credit report.

Is 713 cibil score is good?

According to credit information company, TranUnion CIBIL’s website, the closer your score is to 900, the higher are the chances of your loan application getting approved. Generally, a credit score of 750 and above is considered to be a good score.

Does Prodigy Finance report to credit bureaus?

TIP: Though most loan providers report applications as hard inquiries to the credit bureaus, Prodigy Finance doesn’t.

Does Prodigy finance support 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. You can see if we support the school you want to study at by reviewing this Prodigy Finance list of schools.

Does Prodigy cover living expenses?

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. Your school will credit your tuition cost and transfer the remaining amount to your bank account.

What is minimum CIBIL score for education loan?

One of the most prominent factors in an education loan is the CIBIL score of the applicant and the co-applicant. The score can range from 1 – 999. However, the ideal CIBIL score to get an education is 750 and above. Applicants with a CIBIL score below 600 would face difficulty in getting loan approval.

What happens if I fail to pay my education loan?

If you are unable to make repayment on your education loan, then you will receive notices and warnings from the lender. If you fail to comply with the same, then the lender is legally entitled to the assets you mortgaged. Your property or asset can be auctioned or used by the lender.

Can you refinance 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. No Student Loan Planner® clients have refinanced with Prodigy, so we can’t comment on customer satisfaction based on that.

Does having no loans affect your CIBIL score?

Having no loans and carrying many credit cards may affect your credit score. Many of us have many credit cards, but don’t have even a single loan account. This may negatively affect your CIBIL score.

How does Prodigy Finance assess my credit report?

Prodigy Finance assesses credit reports based on norms established by the country of origin – not according to the standards of the country of study. Because credit reporting is not consistent across all countries, at Prodigy Finance we consider your credit history over your credit score.

What is a CIBIL score and report?

These records are submitted to us by banks and other lenders on a monthly basis; using this information a CIBIL Score and Report for individuals is developed, which enables lenders to evaluate and approve loan applications. A Credit Bureau is licensed by the RBI and governed by the Credit Information Companies (Regulation) Act of 2005.

Does CIBIL decide if a loan/credit card should be sanctioned?

The decision to lend is solely dependent on the lender and CIBIL does not in any manner decide if the loan/credit card should be sanctioned or not. 3. What is a CIBIL Score and what factors affect my CIBIL Score?