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Check out the top 10 B-schools with the most affordable fees
May 24 2024

An MBA is a highly sought-after program for graduates, offering promising career prospects and lucrative opportunities. However, the high costs and fees associated with MBA programs can be a significant barrier for many ambitious students. Fortunately, several MBA colleges in India offer programs with affordable fees, ensuring a satisfactory Return on Investment (ROI).

These colleges offer various specializations at reasonable costs, making the MBA dream more accessible. Typically, government institutions and central universities provide MBA programs at lower fees compared to private colleges and prestigious business schools like IIMs, NMIMS, MDI, and XLRI. Despite the lower costs, these institutions also offer excellent placement opportunities, ensuring that students receive a strong return on their investment.

Top B-schools with the most affordable fees

Faculty of Management Studies (FMS), University of Delhi
The Faculty of Management Studies focuses on management education more than just business management. The commitment is thought leadership with a deep understanding of business. The approach to pedagogy combines fieldwork, case studies, and instrumented feedback with a strong emphasis on concepts and theory. The intent is to encourage intellectual curiosity and open minds to the adventure of ideas.
Consistently ranked among the best B-schools in India, FMS Delhi offers a full-time MBA program with very reasonable fees compared to private institutions. Their fees are around ₹1 lakh (US$1,200) annually. Being a part of Delhi University, a prestigious public university, adds to the program's value.
The tuition Fees at FMS Delhi is one of the lowest and most affordable amongst all Business schools across the country. The Annual tuition fee for MBA-Full Time and Ph.D. programmes at FMS is approximately Rs 10,480 per year. The annual fee payable is Rs. 50,000  in two equal instalments of Rs. 25,000 each for MBA-Executive and MBA-Executive (Health Care Administration) programs.

Department of Financial Studies, Delhi University

The University of Delhi is a premier university of the country with a venerable legacy and international acclaim for highest academic standards, diverse educational programmes, distinguished faculty, illustrious alumni, varied co-curricular activities and modern infrastructure.

Established in 1922 as a unitary, teaching and residential University by the Act of the then Central Legislative Assembly, a strong commitment to excellence in teaching, research and social outreach has made the University a role-model and trend setter for other universities. 

This institute provides admissions based on the CAT exam score which IIMs conduct. The total cost of pursuing an MBA at this institution is INR 26,000 for two years. Department of Financial Studies is known for providing the best ROI. DFS DU Placements 2023 recorded the highest package of INR 32 LPA & an average package of INR 17.10 LPA.
Companies such as DE Shaw, HDFC Bank, JLL, Barclays, Arcesium, Axis Bank, HDFC, SBI, Ministry of Finance etc. are some of the top recruiters for MBA graduates.

International School of Management and Research- ISMR

International School of Management and Research (ISMR B-School), is a mission-oriented Institute, run by Sri Balaji Education Society since 2007, with a vision to be a world class Business School, achieving excellence in management education and research through continuous competency building. ISMR B-School a premier Business School in Pune, ranked among the Top B-schools for excellence in placements, with a 100% placement assistance record since inception.

  • Program: MBA
  • Specializations: Marketing, Finance, Human Resources, Business Analytics, International Business, Operations & Supply Chain Management
  • Duration: 2 Years
  • Fees: Rs 5,00,000
  • Seat Booking Amount: Rs 50,000
  • Examination Fees: Rs 2,000 per semester (approx)
  • Eligibility:
    • Minimum 50% marks in graduation (45% for reserved categories)
  • Seats Available: 180

MSU Baroda

Established in 1881 as a college, MSU Baroda became a university in 1949 after India's independence. It was named after its benefactor Maharaja Sayajirao Gaekwad III, the former ruler of Baroda State.The university offers a wide range of undergraduate, postgraduate, and doctoral programs in various disciplines, including arts, science, commerce, management, law, engineering, medicine, and social sciences.

Fees: ₹82,000 (Total Fees)

In 2022, the placement rate for the MBA program was an impressive 90%. The highest package offered was INR 12 LPA, while the average package stood at INR 6 LPA. Even the lowest package was a respectable INR 3.5 LPA, highlighting the program's strong placement performance and the value it provides to its graduates.


SIMSREE, Mumbai, also known as the Sydenham Institute of Management Studies, Research and Entrepreneurship Education, is a prestigious government-managed business school located in Churchgate, Mumbai, India.

  • Established in 1983, SIMSREE has a rich legacy of providing high-quality management education.
  • It's known for its rigorous curriculum, strong faculty, and focus on practical learning.
  • Ranked 25th among the Best Government B-Schools in India by IIRF 2024 (source can vary).

Programs Offered:

  • Primarily known for its flagship Master of Management Studies (MMS) program, a two-year full-time postgraduate degree offered in various specializations like Finance, HR, Marketing, Operations, and Systems.
  • Selection for the MMS program is based on entrance exams like CAT/CMAT scores.

Fees - 1.5 lakhs

As many as 72 companies participated in the placement season this year with the average salary offered standing at Rs. 15.19 lakhs per annum. The highest salary offered on campus was Rs. 21.53 lakhs per annum 

Jamna Lal Bajaj Institute of Management studies (JBIMS) Mumbai

The Institute was founded in 1965 by the University of Mumbai. JBIMS has been a pioneer in management education. JBIMS is consistently ranked among the top 10 premier B-schools in the country with a legacy spanning over the past 52 years. India’s first full time 2-year Masters in Management studies (MMS) was started in JBIMS under the stewardship of the late Dr. K. S. Basu.

Being one of the oldest Bschools in India, JBIMS has cemented its reputation as the preferred campus for the country’s most prestigious organizations. The Institute has full-time faculty in the core management disciplines and the functional areas of management.  JBIMS Mumbai Fees is INR 6.10 Lakhs for 2 year MMS program

Jamnalal Bajaj Institute of Management Studies (JBIMS) in Mumbai has a 100% placement record. In 2023, the average salary for graduating students was INR 28.02 LPA, with the highest salary at INR 35.75 LPA. The median salary was INR 27.60 LPA.


Bangalore University

Bangalore University is located in the Garden City of Bangalore aptly hailed as the  “I.T. Capital of India”, was established in July 1964 as an off shoot of the University of Mysore, primarily to include institutions of higher learning located in the metropolitan city of Bangalore and the districts of Bangalore, Kolar and Tumkur, which eventually became a separate University. Initially, the two premier colleges of the city, the Central College (CC) and the University Visvesvaraya College of Engineering (UVCE) formed the nucleus of Bangalore University.

Fees - Rs. 70,000 to 100,000

Bangalore University's highest salary package of INR 15 LPA was offered & average salary ranged between INR 4 LPA to INR 5 LPA. More than 150 recruiters visited the campus during Bangalore University placements. Some of the major recruiters include Cognizant, Maruti Suzuki, Dell, Wipro, TCS, Accenture, Infosys, Royal Enfield, and many more.

According to the NIRF Report 2022, A total of 441 students were placed during Bangalore University placements 2021. The placed students included 17 UG students and 424 PG students. Calcutta University median salary stood at INR 5.50 LPA for UG students. 


Established in 1971, The Department of Management Sciences, Savitribai Phule Pune University, is one of the premier business schools in India. It is an autonomous department of the University Of Pune. PUMBA uses scores of CMAT/CAT/ATMA/XAT/MH-CET.

Eligibility: A student must have passed with a minimum of 50 percent marks or equivalent CGPA (45 percent in the case of backward classes and persons with disabilities) in any bachelor's degree awarded by any recognized university.

Fees - 1.3Lakh - 1.5Lakhs 

A total of 104 companies participated in 2023 placements, offering 167 job offers. Out of 173 students who opted for placements 161 were placed successfully. The PUMBA MBA average package 2023 stood at INR 8.85 LPA and the highest package offered was INR 18.97 LPA. TATA Autocomp, Federal Bank, CRISIL, and many other renowned companies participated in PUMBA placements in 2023.


IIM Sirmaur

Indian Institute of Management Sirmaur (IIM Sirmaur) is a Centrally Funded Institution of National Importance set up by the Government of India in 2015. IIM Sirmaur is one of the newer institutions of the IIM family in the country. As a premier institution, under aegis of Ministry of Education, Gol, it aims to provide Management Education of high quality and promotes allied areas of knowledge and inter-disciplinary studies.

Fee Structure for MBA
Term YEAR – I (2024-26)
Admission Fee Tuition fee Hostel Charges Alumni Membership Fee Mediclaim Total
Term -I 60000 240000 40000 3000 2000 345000
Term -II 0 240000 40000 0 0 280000
Term -III 0 240000 40000 0 0 280000
Total Fee (A) 905000
YEAR – II (2024-25)
Term -IV 0 240000 40000 3000 2000 285000
Term -V 0 240000 40000 0 0 280000
Term -VI 0 240000 40000 0 0 280000
Total Fee (B) 845000

Total (A+B)



IIM Tiruchirappalli(Trichy)

Indian Institute of Management Tiruchirappalli (IIMT) is the eleventh IIM and was instituted on 4th January 2011. Tiruchirappalli is a city known for its prominence in education, spirituality, art and culture and IIM Trichy tends to benefit from this.

The fee for PGPM Programme of 2023-25 batch will be Rs.19.5 Lakh (excluding Caution Deposit
and Mess Advance). The term-wise fee details are as follows: 

Term Tuition Fee (INR) Mess Advance (INR) Caution Deposit (INR) Amount to be Paid (INR)
Term-I 3,25,000 20,000 30,000 3,75,000
Term-II 3,25,000 20,000 - 3,45,000
Term-III 3,25,000 20,000 - 3,45,000
Term-IV 3,25,000 20,000 - 3,45,000
Term-V 3,25,000 20,000 - 3,45,000
Term-VI 3,25,000 20,000 - 3,45,000

The final placements for the PGPM 2022-2024 batch witnessed a remarkable surge in participation, with over 192 companies extending 329 offers. Similarly, the PGPM-HR 2022-2024 batch attracted 42 companies, extending 29 offers, marking a 51% increase in participating companies. The average CTC for the PGPM batch stood at 19.43 lakhs, while for the PGPM-HR batch, it was 17.88 lakhs.

IBA Bangalore

Indus Business Academy (IBA), Bengaluru is one of the top MBA colleges in Bengaluru, one of the top 1% colleges in India and one among the only 56 out of more than 5000 colleges in India to receive an International Accreditation by IACBE. World Consulting & Research corporation (WCRC) has certified IBA (process evaluated by KPMG) as one of Asia’s fastest growing Institutes.

Established in 1050, IBA Bangalore recently concluded its placement session on March 31, 2024, with impressive statistics. The institute boasted an average CTC of 22.26 LPA and a median CTC of 7.80 LPA, attracting a total of 95 offers. Notably, 136 students secured placements. With a total fee of Rs 9.78 Lakhs, IBA Bangalore accepts entrance exams such as CAT, XAT, CMAT, and NMAT, with eligibility criteria set at the 70th percentile for CAT/XAT/CMAT and a score of 200+ for NMAT.

Student Background: 79% Freshers, 21% Work Experience

Educational Background: 17% Engineers, 30% Commerce, 27% BBA

Top Recruiters: ICICI Securities, Reliance Industries, Berger Paints, Reliance, Aditya Birla, Tata Motors, KPMG, Deloitte, PWC

Check Out: 5 Cheapest MBA colleges in India | MBA ranking | Best Low cost PGDM | Best ROI

Rahul Singh

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