IIM Fees For MBA Through CAT [MBA Fees & Scholarships]

IIM Fees For MBA Through CAT
IIM Fees For MBA Through CAT

Pursuing MBA at top institutes like IIMs(Indian Institute of Management) is a long-term goal for many MBA aspirants. To get into IIMs, taking the CAT exam is the only option, as the IIMs will accept only the CAT scores for the admission process. However, the cost of education in IIM colleges is notably higher than in other MBA institutions in India, with tuition fees ranging from 20 Lakhs to 24 Lakhs. So, it is essential to know about the fee details of all the IIMs in India.

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Every aspirant must know that there is no need to worry about expenses. There is an option to claim an education loan for merit students who got an admission offer in IIMs. In this article, we will provide you with detailed information regarding the fee structure for all the IIMs in India, and also we will discuss some important things to consider before taking an education loan for IIM students.

Firstly, let us look at the MBA fee structure of all the 20 IIMs in India.

Institute MBA Program Fee
IIM Ahmedabad PGP 24.61 Lakhs
IIM Bangalore PGP 24.7 Lakhs
IIM Calcutta MBA 24 Lakhs
IIM Lucknow PGP 20.75 Lakhs
IIM Kozhikode PGP 20.50 Lakhs
IIM Indore PGP 21.17 Lakhs
IIM Shillong PGP 18.7 Lakhs
IIM Ranchi MBA 17.50 Lakhs
IIM Trichy PGPM 19.5 Lakhs
IIM Raipur PGP 15.92 Lakhs
IIM Rohtak PGP 18 Lakhs
IIM Udaipur MBA 20.43 Lakhs
IIM Kashipur MBA 17.30 Lakhs
IIM Jammu MBA 17.15 Lakhs
IIM Nagpur MBA 18.90 Lakhs
IIM Visakhapatnam PGP 18.25 Lakhs
IIM Bodh Gaya MBA 17 Lakhs
IIM Amritsar MBA 17.30 Lakhs
IIM Sambalpur MBA 13.08 Lakhs
IIM Sirmaur MBA 16 Lakhs

Scholarships For Old IIMs (A, B, C, L, K, & I)

Opting for an education loan to pursue an MBA in IIM b-schools in India is a worthwhile decision. With the rising tuition fees of top-tier institutions such as IIM Ahmedabad, IIM Bangalore, and IIM Calcutta, among others, taking an education loan for MBA at IIM is the most viable option. In addition to the tuition fee, there are various other expenses, including student accommodation, transportation, and miscellaneous expenses, which can be financially overwhelming for individuals from middle-class or lower-middle-class backgrounds.

Let us look at various scholarships that are offered in all the IIMs.

IIM Ahmedabad MBA Scholarships

  1. IIMA Special Need-Based Scholarships
  2. SC/ST Scholarships
  3. Minority Welfare Scholarship (Merit-cum-Means)
  4. Scholarships for Students with Disabilities {Central Sector Scheme for Top Class Education (Merit-cum-Means)
  5. Aditya Birla Group Scholarships
  6. Dunia Scholarships for scholastic excellence
  7. OP Jindal Engineering and Management Scholarship
  8. T. Thomas Scholarship

One can also check out more details of all the scholarships that are offered at IIM Ahmedabad on its official website.

IIM Bangalore MBA Scholarships

  1. Aditya Birla Scholarship
  2. OPJEMS Scholarship
  3. Citi Women’s Leader Award
  4. Societe Generale Global Solution Centre India Scholarship
  5. Siddhartha Padam Award
  6. IIMB PGP Alumni First Batch (1976) Scholarship
  7. Runwal Education Trust Scholarship
  8. Hindustan Unilever / T Thomas Scholarship
  9. Yes Bank Scholarship
  10. NTPC Scholarship Scheme
  11. Employment in Social Sector Scholarship
  12. Ministry of Tribal Affairs Scholarship (ST)
  13. Ministry of Social Justice and Empowerment Scholarship (SC)
  14. Ministry of Social Justice and Empowerment Department of Persons with Disabilities (PwD)

IIM Calcutta MBA Scholarships

  1. Aditya Birla Group
  2. Ratan Tata Trust
  3. T. Thomas Scholarship sponsored by HUL
  4. OP Jindal Engineering & Management Scholarship
  5. Government of India Scholarships for SC/ST/MCM students

IIM Lucknow MBA Scholarships

  1. Need-Based IIML Scholarships
  2. Other Scholarships: Students can avail of various other scholarships instituted by various Central Governments, State Governments and other bodies for higher studies. Details regarding the same are available on The National Scholarship Portal or NSP and the respective State Government portals etc.

IIM Kozhikode MBA Scholarships

  1. IIMK Merit Scholarship
  2. IIMK Need-Based Financial Assistance (NBFA)
  3. Top Class Education Scheme for SC Students
  4. National Fellowship and Scholarship for Higher Education of ST Students
  5. Merit Cum Means Scholarship for Professional and Technical Courses CS
  6. Scholarships for Top Class Education for students with disabilities
  7. Prime Ministers Scholarship Scheme for the wards of Central Armed Police Forces, Assam Rifles & state police personnel Ministry of Home Affairs:
  8. Rajarshee Shahu Maharaj Merit Scholarship
  9. Scholarship Scheme for Govt. of Tamil Nadu
  10. IDFC First Bank MBA Scholarship
  11. Mirae Asset Foundation (MAF) Scholarship
  12. Aditya Birla Group Scholarship
  13. OP Jindal Engineering & Management Scholarship (OPJEMS)

IIM Indore MBA Scholarships

  1. Need-based Financial Assistance (NBFA)
  2. Central Sector Scholarship for SC/ST Students
  3. Minority Welfare Scholarship (Merit-cum-Means):
  4. Aditya Birla Scholarship
  5. OPJEMS Scholarship
  6. State Bank Of India Scholarship
  7. Eicher Scholarship

Features for availing of a student loan for IIM

  • IIM students can obtain education loans of up to Rs.20 lakhs to Rs.30 lakhs, with some students having little to no margin money.
  • The repayment period can be up to 15 years. While IIMs do not require collateral for loans, parents are typically asked to serve as guarantors/co-borrowers.
  • Students can also avail of income tax benefits on the interest paid on educational loans under Section 80E of the Income Tax Act. This is an additional benefit to the Rs.150,000 deduction allowed under Section 80C.
  • Moreover, banks such as SBI and Bank of Baroda offer a 0.5% rate reduction on loans to female students.

If you’re planning to study at a prestigious university such as IIM, you can avail of education loans with lower interest rates compared to Type B or C universities. In addition to the lower interest rates, many banks offer loan programs without any margin requirement, allowing you to cover expenses such as accommodation, travel, books, and equipment fees.

IIM Education Loan Interest Rate For Various Banks In India

Bank/Loan Max Amount Rate of Interest Security Margin Moratorium Period Repayment Period
IDBI Bank Premier Education Loan Rs.20 lakhs Base rate = 9.65% Rs.4 lakhs to Rs.10 lakhs – Third-party guarantor

Above Rs.10 lakhs – Tangible collateral

5% above Rs.4 lakhs Course duration + 1year/6 months of getting a job, whichever earlier Below Rs.7.5 lakhs – 10 years

Above Rs. 7.5 lakhs – 15 years

OBC’s Customized Education Loan Scheme IIMs Rs.15 lakhs Up to 10.50% Parents/Guardians as co-borrower Nil Course period + Grace period based on predefined conditions Upto Rs.7.50 lakhs – 10 years

Above Rs.7.50 lakhs – 15 years

SBI’s Scholar Loan Rs.40 lakhss Up to 10.20% Parents as co-borrower Nil Course period + 1 year 15 years
CBI’s Special Education Loan Scheme to IIM Students (Cent Vidyarthi for IIM Students) Rs.30 lakhs MCLR = 12 Month Assignment of future income Nil Course period + 1 year 15 years
BOI’s Exclusive Education Loan Scheme for Students of Premier Educational Institutions Rs.20 lakhs Rs. 30 lakhs with 100% tangible collateral MCLR = 9.25% Assignment of future income + parents as co-borrower Nil Course period + 1 year 15 years
Union Bank’s Special Education Loan Scheme Rs.30 lakhs 8.10% Parents as co-borrower Nil Course period + 1 year 15 years
Axis Bank’s Education Loan Rs.20 lakhs 8.85% Collateral or guarantor depending on a case-to-case basis 5% above Rs.4 lakhs Course period + 1 year 15 years
UCO Bank’s Super Premier Educational Loan Scheme Rs.30 lakhs 8.40% Nil Nil Course period + 1 year 15 years

Premier college loans actually have lower interest rates than Type B or C universities. Almost all banks offer zero-margin prime loans, making not just tuition but also housing and other requirements cheap.

Note: The values given in the above table may vary. Candidates are advised to check out the respective bank websites for more details about the education loan.


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