Education Loan for MBA by various Bank in India


Education Loan for MBA by various Bank in India  usaomba

An MBA education loan is one of the most convenient options to meet your high MBA program fee. The MBA fee for other B-schools like IIM Ahmedabad, Bangalore, Calcutta, MDI Gurgaon, XLRI Jamshedpur among others is between Rs. 20 lakhs to Rs. 24 lakhs. In addition to this fee, you will have to meet other expenses on stay and boarding and personal expenses during your MBA program.

Accordingly, financing options for pursuing expensive MBA programs must be well understood before taking admission in MBA programs. It is difficult to pursue your MBA education without finding ways to finance your MBA's higher education fees and other expenses that you will have to do in two years of your MBA studies. Even FMS's most affordable MBA program is now in the millions. IIM already has a high tariff structure running between 1 lakh to Rs.2 to + 3 lakhs. On top of this, almost all the top MBA colleges have increased their MBA fee structure. Therefore, funding your MBA is one of the key areas you have to think about before taking admission in MBA college to do MBA.

If you go through a well-planned and thoughtful process, you can not only get the money required for your MBA from one of the top MBA colleges, but will also save a lot of money during the study, if you choose the available MBA. Education loan is the best among the options. This article will help you understand about the MBA education loan options- their availability, how to apply and the amount of loan you can get.

To fulfill the dream of pursuing MBA, about 80% of MBA students take MBA education loan in India. Therefore, planning and securing your education loan for MBA / PGDM in India is as important as getting admission yourself.

Before we proceed to explore your MBA funding options, we need to know the fees for top MBA colleges like IIMs and other top B-schools and then IIM education loans for MBA or other B-schools must decide the need for.


Fee Structure of IIM and other top MBA colleges

Before we discuss about education loan for MBA, let's have a look at the fees of MBA colleges. Given their high fees, it is clear that it is difficult to pursue your MBA program from IIM and other top B-schools in India without an MBA education loan.

MBA College

Structure of fees (Rs. In Lakhs)

IIM Ahmedabad


IIM Bangalore


IIM Calcutta


IIM Lucknow


IIM Kozhikode


XLRI Jamshedpur


MDI Gurgaon


IIFT Delhi






IMI New Delhi


IMT Ghaziabad


K J Somaiya Mumbai


IFIM Bangalore


IFMR Chennai (Sri City)


IPE Hyderabad


Jaipuria Institute of Management, Lucknow


 (Updated on 9.1.2021-Actual fee may revised before admission)


MBA Education Loan Options

Education loans for MBA in India are given by public sector banks like State Bank of India, Punjab National Bank, Central Bank of India, Punjab & Sind Bank, Dena Bank, Canara Bank among other banks. Another MBA education loan option is to get education loans for MBA from private banks like ICICI Bank, Axis Bank, Kotak Mahindra Bank, and Non-Banking Finance Companies (NBFC) such as Credila Education Loans, Avance Financial Services among others .

Accordingly, you have a number of MBA education loan options. However, the cost of these MBA education loan options can go up or down due to difference in interest rate and you have to take care of this problem.

It is important to note that most financial institutions offer differential interest rate schemes for education loans for MBA at IIM and other top-rated MBA colleges as compared to other MBA colleges. Education loans for IIMs and higher ranked MBA colleges are generally available at lower rates than lower ranked colleges.

The following are the major education loan schemes offered by various financial institutions that will be funded for MBA programs:

Education loans for MBA by public sector banks

Almost all public sector banks provide education loans for MBA programs. MBA entrance education lending banks and financial institutions are prominent in:

Banks offering MBA Education Loan in India

Max Amount of Loan (Rs. In Lakhs)

Rate of Interest (Varies for the amount of loan, category of institute)

State Bank of India


8.05 to 10.15

Canara Bank


8.65 to 10.75

Punjab National Bank


8.35 to 10.95

Dena Bank


10 to 11.8

Punjab & Sind Bank


9.75 to 10.75

Central Bank of India


8.90 to 10.4

Union Bank of India


8.65 onwards


Education Loan for MBA by Private Banks & NBFCs
Most of the private sector Banks and Non-Banking Financial Companies also offer Education Loan for MBA as under: 

Bank/Financial Institution

Maximum Loan Amount ( Lakhs)

Rate of Interest (%)

Avanse Financial Services

No Limit


CREDILA (HDFC Subsidiary)



IDBI Bank Ltd


8.5 to 10.5




Axis Bank


8.8 onwards

Kotak Mahindra Bank


11.5 to 24


Education Loan for MBA in SBI

SBI education loan for MBA in India is considered low cost and covers a large part of all expenses while financing your MBA. One of the major features of education loan for MBA in SBI is that if you have got admission in MBA major in a major MBA college then you will get education loan in SBI at low interest rate.

Education loan scheme for MBA in State Bank of India comes under various schemes for study in India and abroad.

Education loans at SBI for MBA in top B-schools are given under Scholar Scheme. These education loans for MBA at SBI are offered to study at top rated management institutions - IIMs and other top B-schools, while regular study loans are offered for other B-schools.

Tailor education loan schemes for MBA at SBI are offered for others as per their fee structure for IIM Ahmedabad, IIM Bangalore, IIM Calcutta and other IIMs as well as MDI Gurgaon, XLRI.

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