You're welcome to settle off your Prodigy Finance loan earlier than expected, and you won't be charged any penalties for doing so. Here is a quick guide on how to settle/close off your loan with Prodigy Finance.
- Settling your loan in three easy steps
- How long does it take to receive a settlement confirmation letter?
- Paying off the Outstanding Balance on your loan
Settling your loan in three easy steps
1. Let us know your intention to settle your loan
Let us know your intention to settle your loan and in what month. Please email this information to email@example.com.
2. Receive an official settlement offer for your loan
We'll provide you with a loan settlement offer that will be valid for the next 28 days. Please remember that for the offer to remain valid, the funds also need to be received by Prodigy Finance within these 28 days.
3. Pay the settlement offer within the settlement period
Once the funds are received, we will begin to close off your loan and send you a settlement confirmation letter to confirm that the loan is closed off with Prodigy Finance.
How long does it take to receive a settlement confirmation letter?
You will receive your settlement confirmation around the 15th of the following month that your loan was settled confirming that your loan is officially considered as settled with Prodigy Finance.
Paying off the Outstanding Balance on your loan
If you made payment based on the outstanding balance on your last monthly statement, we will not be able to consider your loan as settled. If this is the case, please do reach out to us to confirm the appropriate next steps for your loan.