An MBA (Master of Business Administration) is one of the most sought-after postgraduate programs in India. It opens doors to careers in finance, marketing, operations, HR, and entrepreneurship. However, one major concern for students is the high tuition fee charged by top-tier business schools. Not everyone can afford ₹15–25 lakhs for an MBA from an IIM or other premium institutes.
Thankfully, India offers a wide range of low fee MBA colleges that provide quality education, strong placement opportunities, and recognized degrees at an affordable cost. In this guide, we will explore the best budget-friendly MBA colleges in India, admission processes, eligibility, scholarships, and placement records to help you make an informed decision.Low Fee MBA Colleges in India
When we talk about low fee MBA colleges in India, the first options are usually government and university-affiliated institutions. These colleges charge anywhere between ₹50,000 to ₹3 lakhs for the entire course, making them highly affordable compared to private B-schools.
Examples include:
- Faculty of Management Studies (FMS), Delhi University
- Delhi School of Economics (DSE), DU
- Jamnalal Bajaj Institute of Management Studies (JBIMS), Mumbai
- Department of Management Studies (DMS), IIT Delhi
- Tata Institute of Social Sciences (TISS), Mumbai
These institutes combine low fees with strong placement opportunities, making them excellent choices for MBA aspirants.
Cheapest MBA Colleges in India
Some universities and state-level institutions provide the cheapest MBA options in India. These may include open universities, distance learning institutes, or colleges in smaller towns with subsidized fees.
For example:
- IGNOU (Indira Gandhi National Open University) – Distance MBA under ₹50,000
- University of Lucknow – MBA fee around ₹1.5 lakhs
- Banaras Hindu University (BHU) – MBA fee approx. ₹2 lakhs
- Anna University – MBA fee around ₹1.5 lakhs
These colleges may not always offer the same corporate exposure as IIMs, but they provide a recognized degree at a fraction of the cost.
Government MBA Colleges with Low Fees
Government colleges are known for their affordable fee structures due to subsidies and public funding. Students from economically weaker sections often find these institutes more accessible.
Examples include:
- FMS Delhi – Approx. ₹1.9 lakhs for the entire MBA
- JBIMS Mumbai – Around ₹6 lakhs (still cheaper compared to IIMs)
- DSE, Delhi University – Around ₹30,000–₹50,000 per year
- DMS IIT Delhi – ₹8–10 lakhs (reasonable compared to IIM A/B/C)
MBA Admission with Low Fees
To get into these low fee colleges, students usually need to appear for national or state-level MBA entrance exams such as:
- CAT (Common Admission Test)
- XAT (Xavier Aptitude Test)
- CMAT (Common Management Admission Test)
- MAT (Management Aptitude Test)
- State-level exams like MAH-CET, TANCET, KMAT
Cut-offs for government universities are typically high, while private low-cost colleges may have flexible criteria.
Distance MBA Low Fee Colleges
If you’re a working professional or someone who cannot attend regular classes, distance learning MBAs are an excellent alternative.
Top options include:
- IGNOU – Distance MBA at ₹37,800
- Symbiosis Centre for Distance Learning – Around ₹1.5 lakhs
- ICFAI University – Around ₹65,000
- NMIMS Global – Around ₹1.5 lakhs
These programs are UGC-approved and suitable for career advancement at a low investment.
MBA Colleges Under 1 Lakh Fees in India
There are very few colleges in India where you can pursue an MBA under ₹1 lakh. These are usually central or state universities.
Examples:
- University Business School (UBS), Chandigarh – ₹50,000–₹80,000
- DSE Delhi – Around ₹40,000 per year
- Jamia Millia Islamia (JMI), Delhi – Around ₹65,000–₹75,000
Top Private MBA Colleges with Affordable Fees
Not all private colleges charge exorbitant fees. Some institutes offer affordable MBA programs with decent placements.
Examples:
- KIIT School of Management, Bhubaneswar – Around ₹8 lakhs
- Christ University, Bangalore – ₹7–8 lakhs
- Amity University (Scholarship seats) – ₹6–7 lakhs
While slightly higher than government colleges, these private universities provide excellent infrastructure and corporate exposure.
Low Fee MBA Colleges with Placements
Placements are a crucial factor when selecting any MBA college. Some affordable colleges with great ROI (Return on Investment) include:
- FMS Delhi – Average package ₹25+ LPA
- JBIMS Mumbai – Average package ₹20+ LPA
- TISS Mumbai – Average package ₹18 LPA
- UBS Chandigarh – Average package ₹9–10 LPA
Executive MBA at Low Cost
For working professionals, executive MBA programs are available at low cost compared to international options.
- IIM Shillong PGPEx – Around ₹10 lakhs
- FMS Delhi Executive MBA – ₹1.5–2 lakhs
- Symbiosis Executive MBA – ₹3–4 lakhs
MBA in India Without High Fees
With so many government universities, open universities, and private institutions offering affordable options, pursuing an MBA in India without high fees is a realistic goal. Students can choose full-time, part-time, or distance MBAs based on their career stage.
Best ROI MBA Colleges India
ROI (Return on Investment) is the most important factor in choosing an MBA. Colleges like FMS Delhi, JBIMS, TISS, UBS Chandigarh, and DSE Delhi rank among the best in ROI because of their low fees and high salary packages.
AICTE Approved Low Fee MBA Colleges
It’s essential to choose AICTE-approved MBA colleges for credibility. Many state universities and distance education providers fall under AICTE/UGC guidelines, ensuring quality education and recognition.
Online MBA Low Cost Programs
With the rise of online education, several platforms now offer affordable online MBAs:
- Amity Online MBA – ₹1.75–2 lakhs
- Jain University Online MBA – ₹1.6–2 lakhs
- Manipal Online MBA – ₹2 lakhs
These programs are especially popular among working professionals.
MBA Scholarships in India
Several institutions provide scholarships for MBA students, including:
- Merit-based scholarships (for toppers in entrance exams)
- Need-based scholarships (for low-income students)
- Corporate sponsorships for employees pursuing MBA
- Government scholarships for SC/ST/OBC/EWS categories
One Year MBA Low Fee Programs
Some institutes also offer 1-year MBA/PGDM programs at a reasonable cost:
- ISB Hyderabad (higher fees but strong ROI)
- IIM Ahmedabad PGPX (expensive, but scholarships available)
- XLRI Jamshedpur – Executive programs
- FMS Delhi – One-year executive programs
Case Study: FMS Delhi – India’s Best Low Fee MBA College
- Fee: Approx. ₹1.9 lakhs total
- Average Placement: ₹25+ LPA
- Entrance Exam: CAT
- Why Choose: High ROI, excellent faculty, strong alumni network
This makes FMS Delhi one of the top choices for students looking for an affordable yet prestigious MBA in India.
FAQs
Q1. Which is the cheapest MBA college in India?
IGNOU offers one of the cheapest MBA programs at just ₹37,800.
Q2. Can I get an MBA under ₹1 lakh?
Yes, in colleges like DSE Delhi, UBS Chandigarh, and Jamia Millia Islamia.
Q3. Do low fee MBA colleges provide good placements?
Yes, institutes like FMS Delhi and JBIMS Mumbai provide excellent ROI despite low fees.
Q4. Which is better – distance MBA or full-time MBA?
It depends on your career goals. Distance MBA is cost-effective, while full-time MBA offers better networking and placements.
Q5. Are scholarships available for MBA students in India?
Yes, both government and private institutions offer scholarships based on merit and need.
Conclusion
Pursuing an MBA in India at a low fee is no longer a dream. With government universities, AICTE-approved institutes, distance learning options, and scholarships, students can gain world-class management education without burdening themselves with heavy loans.
If you’re planning to pursue an MBA, focus on ROI, placements, and accreditation instead of just the fee structure. Affordable doesn’t mean low quality — and colleges like FMS Delhi, JBIMS Mumbai, and TISS Mumbai prove that every year.