Credila announces special education loan offer for NMAT by GMAC test takers

January 20, 2017

On January 17, Credila, an HDFC Ltd. company, India’s first dedicated education loan provider, in collaboration with Graduate Management Admission Council (GMAC), owner of the GMAT and NMAT by GMAC exam announced a special education loan offer for NMAT by GMAC test takers.
This association with the Credila group to offer special education loan for NMAT by GMAC test takers is in lines with GMAC’s commitment to make NMAT by GMAC as the most candidate friendly entrance exam in India.

Unique candidate friendly features such as single sign-on, 12 mobile wallet options for easy payment along with new test centres and acceptance from top quality institutions were introduced in the registration process in 2016.

As a part of this collaboration, MBA aspirants undertaking the test will have the liberty to fund their education with Credila’s customise their loan package at attractive interest rates, while availing tax benefits under Section 80 E of the Income Tax Act.

This product has been designed with special focus on students who wish to pursue higher studies and undertake the NMAT by GMAC exam. It is an amalgamation of different services wherein students will be offered customised loan packages and Credila will also refund the fee paid to register for the NMAT by GMAC™ exam, up to INR 1955/-.

The partnership is a measure to support and help students in their college applications and make the complete admission procedure hassle free for them.

Key features of the loan service are:

Upto 100 percent finance
Easy EMIs
Loan sanction before admission with doorstep service
Attractive rate of interest and origination fee
Reimbursement of NMAT by GMAC exam registration fee

Detailed information related to the education loan offer is available on www.nmat.org.in/special-loan-offer/education-loan/

Commenting on the development, Vikram Shah, director, product management, GMAC said, “NMAT by GMAC has always given utmost importance to candidate convenience and our association with Credila is an extension to this motto. Over 40 percent of our candidates have expressed interest in availing education loan to fund their management education. This association will help NMAT by GMAC test takers to focus on taking the exam and apply to the choice of their school and take the help of Credila to finance their MBA aspiration. This association will also help NMAT by GMAC accepting institutions – another key stake holder, as this umbrella arrangement of education loan will cover all NMAT by GMAC accepting institutions for recruiting talent through NMAT by GMAC score without worrying to provide education loan solution to their prospective candidates.”

Chandini Sehgal, head – Marketing & Channels, Credila said, “We are pleased to associate with GMAC for NMAT by GMAC exam and hope to reach out to an aspiring base of over 60,000 candidates who registered for the test this year. Credila has been constantly working towards providing customised education finance to empower higher education aspirants to choose the institute of their choice, without downsizing their dreams. We are certain that this association will benefit the aspirants in being much better prepared financially, as they move forward towards their admission process.”

GMAC acquired ownership of the exam from Narsee Monjee Institute of Management Studies (NMIMS) in March 2015 and had rebranded it as NMAT by GMAC. Conducted by GMAC, the NMAT by GMAC™ exam is accepted by 20 leading institutions in India namely SVKM’s Narsee Monjee Institute of Management Studies, Xavier University, ICFAI Business School (IBS), MISB Bocconi, Shiv Nadar University, Alliance University, Amity University, Woxsen School of Business Management, University of Petroleum & Energy Studies (UPES), VIT University, Thapar School of Management, BML Munjal University, SRM University, Hyderabad Business School – GITAM University, Chitkara University, Institute of Management – JK University, Ansal University, Mody University, Shoolini University, and Gitam School of International Business.

Credila – an HDFC Ltd. company, India’s first dedicated education loan company, funds students for higher education in both India and overseas and offers customises loan solutions to applicants. More information on Credila is available on www.credila.com

Conducted by the Graduate Management Admission Council (GMAC®), the organisation that owns the GMAT® exam, the NMAT by GMAC™ exam opens doors to leading management programmes in India. For further information, please visit: www.nmat.org.in.

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