Credila Announces Education Loan for NMAT by GMAC Test Takers

Sarika Rana updated on : 30 Jun 2017

As a part of this collaboration, MBA aspirants undertaking the test will have the liberty to fund their education with Credila. Find out more!

Credila Announces Education Loan for NMAT by GMAC

Credila, an HDFC Ltd. Company, India's First Dedicated Education Loan provider, in collaboration with Graduate Management Admission Council, owner of the GMAT and NMAT by GMAC exam announces 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 like single sign-on, 12 mobile wallet options for easy payment along with new test centers 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 customize 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 customized 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

  • Up to 100% finance
  • Easy EMIs
  • Loan sanction before admission with doorstep service
  • Attractive rate of interest & origination fee
  • Reimbursement of NMAT by GMAC exam registration fee

Commenting on the development, Mr. 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% 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, 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.”

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:

  1. SVKM’s Narsee Monjee Institute of Management Studies,
  2. Xavier University, 
  3. ICFAI Business School (IBS),
  4. MISB Bocconi,
  5. Shiv Nadar University,
  6. Alliance University,
  7. Amity University,
  8. Woxsen School of Business Management,
  9. University of Petroleum & Energy Studies (UPES),
  10. VIT University,
  11. Thapar School of Management,
  12. BML Munjal University,
  13. SRM University,
  14. Hyderabad Business School - GITAM University
  15. Chitkara University,
  16. Institute of Management - JK University,
  17. Ansal University,
  18. Mody University,
  19. Shoolini University,
  20. Gitam School of International Business.

Candidates can get detailed information related to the education loan offer is available on- 

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