You're welcome to make bulk payments on your Prodigy Finance loan without incurring any penalties. If you plan on doing this, remember that you’ll still be expected to make monthly payments unless stated otherwise.
If you'd like to make a bulk payment which is more than three times your contractual instalment, you have the following options:
Default option: There will be no change to the amount of your next scheduled payment. (This is the default option if you don't choose the other two).
Re-amortise the loan: This will reduce the monthly instalment which will be due each month for the remaining term.
Payment holiday: When no payment is expected, your loan is ahead of schedule. You can then only make a payment once you're no longer ahead of schedule.
When making a bulk payment, please reach out to us so we can action your preferred option on your loan.