Education Loan for MBA

MBA education loan in India is one of the most simple ways to cover the high cost of your MBA program. MBA fees range from Rs. 20 lakhs to Rs. 24 lakhs for prominent B-schools such as IIM Ahmedabad, Bangalore, Calcutta, MDI Gurgaon, and XLRI Jamshedpur, among others. 

Other expenditures such as hotel and boarding, as well as personal expenses, must be met during your MBA program in addition to this price. As a result, acquiring an MBA loan and supporting your MBA program is just as vital as getting accepted.

How to Finance Your MBA in India?

It's tough to seek an MBA degree without first figuring out how to pay for your costly MBA tuition and other fees over the course of your two-year MBA program.

Even FMS's (Faculty of Management Studies) most cost-effective MBA program now costs around 2 lakhs. On top of that, practically all of the major MBA schools have raised their MBA tuition. As a result, funding your MBA is one of the most important considerations you must make before enrolling in an MBA program, and you must search for the finest MBA education loan scheme.

Top Colleges in India for MBA 

Latest Fee Structure

Institutes Fee in INR (approx. in lakhs)
IIM Ahmedabad 23.3
IIM Calcutta 22.6
IIM Bangalore 23.2
IIM Kozhikode 20.5
IIM Lucknow 19.2
MDI Gurgaon 24.3
XLRI Jamshedpur 23.6
SIBM Pune 20.7
IIFT Delhi 18.3
SPJIMR Mumbai 19.2
K J Somaiya Mumbai 16.3
IMI New Delhi 19.2
IMT Ghaziabad 19.5
IPE Hyderabad 10.8
IFIM Bangalore 12.2
IFMR Chennai 13.8

How to Get an Education Loan for an MBA in India?

In India, public sector institutions such as State Bank of India, Punjab National Bank, Central Bank of India, Punjab & Sind Bank, Dena Bank, and Canara Bank offer MBA education loans.

Private sector banks such as ICICI Bank, Axis Bank, and Kotak Mahindra Bank also provide MBA education loans. There are also specialized NBFCs that offer MBA education loans in India, such as HDFC Credila Financial Services Limited and Avanse Financial Services.

As a result, you have a variety of MBA education loan choices. However, due to differences in interest rates, the cost of these MBA education loan options may rise or fall, and you must address this issue.

Loans Offered by Public Sector Banks

Almost every public sector bank provides an MBA education loan. Among the public sector banks and financial institutions that offer MBA admission education loans, the following are the top education loan providers in India:

Banks Loan Amount in INR (max.) Interest Rate (in %)
SBI 30 8.05-10.15
PNB 75 8.35-10.95
Canara Bank 40 8.65-10.75
Dena Bank 15 10-11.8
Central Bank of India 20 8.9-10.4
Punjab & Sind Bank 10 9.75-10.75
Union Bank of India 30 8.65 onwards

Loans Offered by Private Sector Banks and NBFCs

MBA education loans are widely available from private banks and NBFCs. The following are some of the private sector banks and non-banking financial companies that offer MBA education loans:

Banks/NBFCs Loan Amount in INR (max.) Interest Rate
(in %)
IDBI Bank 20 8.5-10.5
Axis Bank 75 8.8 onwards
ICICI Bank 50 10.5 onwards
Avanse Financial Service No limit 10-16.5
Kotak Mahindra Bank 10 11.5-24
HDFC-CREDILA 45 6.7 onwards

How to Apply for Education Loan for MBA?

Students can now apply for an MBA education loan entirely online. Students can apply for college loans online with most banks. The steps for applying for an MBA education loan are outlined below:

Study Loan for MBA in India Eligibility Criteria 

To be eligible for an education loan for an MBA in the United States, applicants must meet the following criteria:

The RBI has not imposed any age limitations on education loans for MBA. Some banks, however, may set a 35-year-old age limit.

Documents Required for a Loan for MBA in India

To apply for an MBA education loan in India, applicants must submit scanned copies of the following documents:

Why Should You Take an Education Loan for an MBA?

An MBA study loan is a type of loan that banks and other financial organizations provide to students who want to continue their education. The loans are available to students who have already been accepted into an MBA program.

Here are some reasons why taking an MBA education loan could be beneficial:

What If There’s Another Option?

If you do not wish to avail an education loan, here’s another option you can consider. Money View offers personal loans ranging from Rs. 5k to Rs. 10 lakh, perfect for your multiple needs. 

The best part is that these loans are disbursed within 24 hours of application approval which is perfect for emergencies. So what are you waiting for? Visit the Money View website or download the app and apply right away!


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