Vikran from GMAC and Chandini Credila
Vikran from GMAC and Chandini Credila

NEW DELHI, January 17, 2017 /PRNewswire/ —

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.

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.

Vikran from GMAC and Chandini Credila
Vikran from GMAC and Chandini Credila


As a part of this collaboration, MBA aspirants undertaking the test will have the liberty 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.

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 and origination fee
  • Reimbursement of NMAT by GMAC exam registration fee


Detailed information related to the education loan offer is available on

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% 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.

About Credila Financial Services

Credila, an HDFC Ltd. Company, pioneered the concept of specialist education loan lender and became India’s first dedicated education loan company. Credila funds students for higher education in both India and overseas and offers customized loan solutions to applicants.

More information on Credila is available on

About NMAT by GMAC™

The NMAT by GMAC™ exam opens doors to the leading management programmes in India. Brought to you by the Graduate Management Admission Council (GMAC®), the organization that owns the GMAT® exam, the NMAT by GMAC™ enables schools to recruit top talent with the comfort that the test measures the skills needed to succeed in their programmes. NMAT by GMAC™ has been at the forefront of measurement within high stakes testing and is used for securing admissions to some of the leading graduate business programmes in India.

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Credila’s Special Education Loan Offer for NMAT by GMAC Test Takers