Which bank/nbfc to go for non collateral loan ?
Any reviews about
1. Prodigy finance
2. Leap finance

Question

Which bank/nbfc to go for non collateral loan ?
Any reviews about
1. Prodigy finance
2. Leap finance
3. Avanse/ auxilo/ others.

Nishant Upadhyay · Answer

Best interest rates are offered by Prodigy and Leap. Prodigy matches loan with funds and the process of document verification takes at least 2 weeks. In my case it took 2 weeks. Prodigy will only disburse your first year fee and you need to request for funds again in the second term.

Leap is good. They will give you a provisional offer instantly and pass up to 100% of expenses. You will receive your sanction letter after three days. They do verify your profile and their credit team check your eligibility. Good thing, you need not pay processing fee to get sanction letter.

avanse and auxilo charge high interest rates (around 12%). Auxilo offered me 13% (way too high) depending on a few things.

Try incred, they offered me 11.75%, plus their process is smooth. The processing fee and insurance are both exorbitant.

Choose wisely. Thanks

Nishant Upadhyay · Answer

All except avanse, auxilo. Leap's is in process.

Nishant Upadhyay · Answer

Get sanction from more than 1 bank. You may have to pay the processing  fee but at least your career won't be in jeopardy.

Nishant Upadhyay · Answer

@UjjwalkrGupta I am not aware of that. Thanks, I'll check again.

Ujjwal Gupta · Answer

@nishantup1995 prodigy seems tricky what if they don't provide me for second year ? That will leave me nowhere. And since prodigy and leap provide loan in dollars will that be expensive in contrast if we take a loan in inr ?

Ujjwal Gupta · Answer

I also heard prodigy didn't disburse any money last year because of covid

Chibuzo Nwadike · Answer

Prodigy Finance does not have money anymore. They will frustrate you. They did not Match my brother to funds on April 15th after being placed in the waitlist since February and his visa appointment is in May. They even told him that funds are not guaranteed.  I will advise anyone look for other options like Mpower.

SyeD SaLmAN · Answer

@nishantup1995 So u got loan from all?

Which bank/nbfc to go for non collateral loan ? Any reviews about 1. Prodigy finance 2. Leap finance