New Delhi: 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, today announced a special education loan offer for NMAT by GMAC test takers. Hence, nearly 60,000 test takers of NMAT by GMAC will be eligible for education loan at attractive interest rate to pursue higher education.
Credila Financial informed that as a part of this collaboration, MBA aspirants undertaking the test will have the choice to fund their education with Credila’s ‘customize your loan package’ at attractive interest rates, while availing tax benefits under Section 80 E of the Income Tax Act.
Credila Financial has designed this product with special focus on students who wish to pursue higher studies and undertake the NMAT by GMAC exam. Also Credila will also refund the fee paid to register for the NMAT by GMAC™ exam, up to INR 1955/-.
Some of the key features of the education loan facility are given: up to 100% finance and easy EMIs; attractive rate of interest and origination fee; and reimbursement of NMAT by GMAC exam registration fee.
Mr.Vikram Shah, Director, Product Management, GMAC said, ” 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 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 customized 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.
