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:
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 us here.
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 by the 15th of the following month to confirm that the loan is closed off with Prodigy Finance.
Paying off the outstanding balance on your loan
If you make a payment based on the outstanding balance from your last monthly statement, your loan will not automatically be considered settled. Additional factors such as accrued interest or recent transactions may impact the final settlement amount.
If you’ve already made a payment based on your last statement’s outstanding balance, please reach out to us here.
Our team will guide you through the next steps to ensure your loan is settled correctly.