Everything You Need to Know About the Education Loan for NIFT Students

Posted In education loan On April 18, 2019
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The National Institute of Fashion Technology has its branches all over India for young aspirants who wish to take up fashion studies as their career. This college is established under the Ministry of Textiles, Government of India 1986 thus making it one of the most sought after college for the national and international fashion business. One of the mandatory requirements to obtain loan for NIFT is confirmed admission letter from the college. Some of the common points to keep in mind while taking an Education loan for NIFT:

  1. The NIFT Education loan includes the tuition expenses as well as the cost of books, library fees and other necessary requirements.

  2. While no upper limit is decided for the loan amount, banks generally grant loans that are in accordance with the Educational costs of the institute.

  3. The processing fees for NIFT Education loan ranges from 0.5-2 % depending on the bank from which the loan is taken.

  4. Moratorium period for the loan is one year after the completion of the course.

  5. The repayment period extends to a maximum of 15 years from the start of the repayment period.

Some of the available lenders for providing loans to NIFT-

  1. Axis Bank

  2. HDFC Credila

  3. Auxilo

  4. Avanse

  5. InCred

For more information regarding the rate of interest and repayment options at fashion colleges in India, visit Credenc at -

https://www.credenc.com/education-loan/india/design-colleges
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