An MBA is one of the most coveted degrees in India, offering access to lucrative career opportunities across various specializations.
However, the cost of pursuing an MBA can be a major obstacle for many aspiring students. Fortunately, India hosts several prestigious institutions that provide world-class MBA programs at an affordable cost.
This guide reviews the top 15 most affordable Online MBA in India, offering detailed insights into their programs, fee structures, and what sets them apart.
Why Choose an Affordable Online MBA?
Choosing an affordable MBA doesn’t mean compromising on quality. Many budget-friendly MBA programs offer excellent education, experienced faculty, and strong placement support.
The key is to find a program that provides a good return on investment (ROI), balancing low tuition fees with strong employment opportunities after graduation. Affordable MBA programs are especially beneficial for working professionals who need to balance their studies with their careers
15 Top Cheapest & Affordable Online MBA in India
1. Faculty of Management Studies (FMS), Delhi University
FMS is widely regarded as one of the premier business schools in India, offering an MBA program that is both cheapest and highly respected. Despite its low fees, FMS boasts exceptional faculty, a rigorous curriculum, and impressive placement records. The institution has consistently ranked among India’s top 10 MBA colleges, making it a top choice for students seeking a high ROI (Return on Investment).
| Key Highlights | Established in 1954, FMS has a rich legacy of producing business leaders. Strong alumni network with connections in top companies globally. The average placement package often exceeds ₹25 lakhs per annum. Strong industry connections for internships and placements. Emphasis on case-based learning and real-world applications. |
| Fees for MBA Specialization | Approximately ₹1.92 lakhs for the entire course |
| Location | New Delhi |
2. Jamnalal Bajaj Institute of Management Studies (JBIMS), Mumbai
Known as the ‘CEO Factory’ of India, JBIMS has a reputation for producing top-notch business professionals. The institute’s proximity to Mumbai’s corporate hub provides students with ample internship and placement opportunities. Despite the relatively low fees compared to other top B-schools, JBIMS maintains a high standard of education and industry interface.
| Key Highlights | Strategic location in Mumbai, providing a competitive edge in placements. Strong emphasis on practical learning and industry exposure. Alumni include top executives in leading corporations. High ROI due to strong corporate connections and placements. Experienced faculty with industry backgrounds. |
| Fees for MBA Specialization | Approximately ₹6.00 lakhs for the entire course |
| Location | Mumbai |
3. Sydenham Institute of Management Studies, Research and Entrepreneurship Education (SIMSREE), Mumbai
SIMSREE offers one of the most cost-effective MBA programs in India. The institute is known for its strong academic curriculum, which is complemented by extensive industry interactions. The low fee structure, combined with Mumbai’s vibrant job market, makes SIMSREE an attractive option for MBA aspirants.
| Key Highlights | Excellent ROI with low fees and strong placement records. A diverse range of specializations is offered, catering to various interests. Active placement cell ensuring high employability for graduates. Extracurricular activities enhancing personal growth. Collaborative learning environment. Internship opportunities with top firms in Mumbai. |
| Fees for MBA Specialization | Approximately ₹1.36 lakhs for the entire course |
| Location | Mumbai |
4. Tata Institute of Social Sciences (TISS), Mumbai
TISS is unique among MBA programs in India due to its focus on social entrepreneurship and sustainable business practices. The Master’s in Human Resource Management and Labour Relations offered by TISS is highly regarded and provides a specialized education at a very affordable cost. TISS graduates are known for their commitment to ethical practices in business.
| Key Highlights | Focus on social responsibility, making it ideal for those interested in CSR roles. Strong faculty with expertise in social sciences and management. Interdisciplinary curriculum with diverse electives. Strong placement record in various sectors. Opportunities for fieldwork and practical exposure |
| Fees for MBA Specialization | Approximately ₹2.38 lakhs for the entire course |
| Location | Mumbai |
5. Department of Management Sciences (PUMBA), Pune University
PUMBA is a flagship management department of Pune University, offering an affordable MBA program with a focus on research and practical applications. The institute is well-known for its industry collaborations and offers a range of specializations that cater to different career paths.
| Key Highlights | Well-rounded curriculum with a blend of theory and practical learning. Affordable fees coupled with good placement records. Strong emphasis on entrepreneurship and innovation. Excellent placement support and career services. Collaborative learning environment with diverse student backgrounds. |
| Fees for MBA Specialization | Approximately ₹1.32 lakhs for the entire course |
| Location | Pune |
6. Department of Management Studies (DMS), IIT Delhi
DMS at IIT Delhi offers an MBA program that stands out for its integration of technology and management education. The program is designed to equip students with the skills needed to thrive in the tech-driven business world. While the fees are higher than some other affordable options, the value provided by an IIT degree justifies the cost.
| Key Highlights | Cutting-edge curriculum with a focus on technology and innovation. Access to IIT Delhi’s vast resources and networks. High placement rates with top companies in the tech and consulting sectors. A unique blend of management and technology courses. Global exposure through exchange programs |
| Fees for MBA Specialization | Approximately ₹8.80 lakhs for the entire course |
| Location | New Delhi |
7. University School of Management Studies (USMS), IP University
USMS at Guru Gobind Singh Indraprastha University offers a cost-effective MBA program with a strong curriculum and decent placement opportunities. The school emphasizes practical learning, and its location in the national capital provides students with a wealth of opportunities for internships and jobs.
| Key Highlights | Cutting-edge curriculum with a focus on technology and innovation. Affordable MBA with a good balance of theory and practical exposure. Strong focus on developing managerial and leadership skills. Good placement support and industry connections. Experienced faculty with industry experience. Comprehensive curriculum covering various management aspects. Active student clubs and organizations for skill enhancement. |
| Fees for MBA Specialization | Approximately ₹1.35 lakhs for the entire course |
| Location | New Delhi |
8. National Institute of Technology (NIT), Trichy
NIT Trichy’s MBA program is highly regarded for its affordability and quality. The program emphasizes a strong foundation in management principles, coupled with opportunities for hands-on experience through industry projects and internships. The institute’s reputation for engineering excellence also adds value to the management degree.
| Key Highlights | Strong focus on analytical and problem-solving skills. Affordable fees with good placement records, especially in tech-related fields. Opportunities for research and interdisciplinary learning. Active placement cell with strong corporate ties. Opportunities for internships and live projects. |
| Fees for MBA Specialization | Approximately ₹2.60 lakhs for the entire course |
| Location | Trichy |
9. Faculty of Management Studies (FMS), Banaras Hindu University (BHU)
FMS BHU offers an MBA program that blends traditional learning with modern business practices. The university’s rich history and diverse academic environment make it a unique place to study management. The affordable fee structure and strong alumni network make it an excellent choice for students from across the country.
| Key Highlights | Strong emphasis on holistic development and ethical management practices. Diverse student body with a vibrant campus life. Good placement records with a focus on roles in both corporate and public sectors. Collaborative learning environment with peer interaction. Regular guest lectures from industry experts. |
| Fees for MBA Specialization | Approximately ₹1.50 lakhs for the entire course |
| Location | Varanasi |
10. Goa Institute of Management (GIM), Goa
GIM offers an MBA program that is not only affordable but also located in one of the most picturesque states in India. The institute is known for its focus on entrepreneurship and innovation, with a curriculum designed to foster creativity and critical thinking. GIM’s strong industry connections ensure good placement opportunities for its graduates.
| Key Highlights | Emphasis on entrepreneurship and innovative business practices. Beautiful campus with a conducive learning environment. Strong placement records with a focus on emerging industries. Focus on sustainability and responsible management practices. |
| Fees for MBA Specialization | Approximately ₹2.97 lakhs for the entire course |
| Location | Goa |
11. Panjab University, Chandigarh
Panjab University’s University Business School offers a well-rounded and affordable online MBA program in India. The institute is known for its emphasis on research and innovation, providing students with a strong academic foundation and practical business skills.
| Key Highlights | Experienced faculty with a strong industry background. Comprehensive curriculum with diverse electives. Opportunities for internships and placement support. Active student clubs and industry collaborations. |
| Fees for MBA Specialization | Approximately ₹1.45 lakhs for the entire course |
| Location | Chandigarh |
Read More – Panjab University Online/Distance MBA
12. Jamia Hamdard
Jamia Hamdard offers a cost-effective MBA program with a focus on healthcare and pharmaceutical management. The institute combines academic excellence with a strong focus on industry-specific skills, making it a preferred choice for students in these sectors.
| Key Highlights | Focus on health management and other specialized areas. Strong emphasis on research and community engagement. Experienced faculty with industry insights. Opportunities for internships and live projects |
| Fees for MBA Specialization | Approximately ₹2.5 lakhs for the entire course |
| Location | New Delhi |
13. University of Calicut
The University of Calicut offers an MBA program that combines academic excellence with practical training. With a focus on emerging business trends and challenges, the program equips students with the necessary skills to succeed in a competitive marketplace.
| Key Highlights | Comprehensive curriculum covering various management disciplines. Opportunities for internships and industry interaction. Supportive learning environment with experienced faculty. Regular workshops and seminars for skill enhancement |
| Fees for MBA Specialization | Approximately ₹1.10 lakhs for the entire course |
| Location | Malappuram |
14. Indira Gandhi Open University, IGNOU
IGNOU offers a flexible and affordable MBA program through distance learning, making it accessible to working professionals and students across India. The program is designed to provide a comprehensive understanding of business management at a minimal cost.
| Key Highlights | Flexible learning options suitable for working professionals. Affordable fee structure compared to traditional programs. Strong emphasis on self-paced learning and online resources. Good support services for distance learners. |
| Fees for MBA Specialization | Approximately ₹82,000/- for the entire course |
| Location | New Delhi |
15. D Y Patil University Online With the Best Pedagogy
DY Patil University offers a flexible online MBA program designed to cater to the needs of working professionals. The program is known for its quality content, industry relevance, and cheapest pricing, making it a popular choice for distance learners.
| Key Highlights | Flexible online learning Industry-relevant curriculum Affordable fees Suitable for working professionals |
| Fees for MBA Specialization | Approximately ₹1.30 Lakhs for the entire course |
| Location | Pune |
List of Top and Popular MBA Specialisations in India
Here is a table of the top and popular MBA specializations and focus areas in India:
| Rank | Specialization | Focus Areas |
| 1 | Finance | Corporate Finance, Investment Banking, Risk Management, Financial Markets, Mergers & Acquisitions |
| 2 | Marketing | Brand Management, Digital Marketing, Consumer Behavior, Advertising, Sales & Distribution |
| 3 | Human Resource Management | Talent Acquisition, Training & Development, Performance Management, Compensation & Benefits, Employee Relations |
| 4 | Operations Management | Supply Chain Management, Logistics, Project Management, Quality Management, Operations Strategy |
| 5 | Entrepreneurship | New Venture Creation, Business Plan Development, Funding & Financing, Growth Strategies, Innovation Management |
| 6 | Business Analytics | Data Mining, Predictive Modeling, Prescriptive Analytics, Big Data Management, Business Intelligence |
| 7 | Information Technology Management | IT Strategy, Digital Transformation, Cybersecurity, IT Project Management, Enterprise Architecture |
| 8 | International Business | Global Strategy, Cross-cultural Management, International Trade, Foreign Direct Investment, Emerging Markets |
| 9 | Healthcare Management | Hospital Management, Pharmaceutical Management, Healthcare Policy, Healthcare Economics, Medical Device Management |
| 10 | Retail Management | Retail Strategy, Category Management, Merchandising, Visual Merchandising, Customer Experience Management |
| 11 | Banking & Financial Services | Commercial Banking, Investment Management, Wealth Management, Insurance, Financial Regulations |
| 12 | Hospitality Management | Hotel Management, Tourism Management, Event Management, Food & Beverage Management, Hospitality Marketing |
| 13 | Family Business Management | Succession Planning, Governance, Entrepreneurship, Family Dynamics, Professionalizing Family Businesses |
| 14 | Luxury Brand Management | Luxury Consumer Behavior, Luxury Retail, Luxury Marketing, Luxury Brand Strategy, Luxury Supply Chain Management |
| 15 | Social Entrepreneurship | Social Impact Measurement, Nonprofit Management, Social Innovation, Sustainable Development, Corporate Social Responsibility |
| 16 | Sports Management | Sports Marketing, Sports Event Management, Sports Facility Management, Sports Media, Sports Sponsorship |
| 17 | Sustainability Management | Environmental Management, Corporate Sustainability, Renewable Energy, Sustainable Supply Chain, Circular Economy |
| 18 | Business Design | Design Thinking, User Experience Design, Service Design, Business Model Innovation, Prototyping & Testing |
| 19 | Artificial Intelligence & Machine Learning | AI Strategy, Machine Learning Algorithms, Deep Learning, Natural Language Processing, Computer Vision |
| 20 | Blockchain Management | Blockchain Architecture, Cryptocurrency, Smart Contracts, Blockchain Applications, Blockchain Governance |
These specializations cater to diverse industries and job roles, allowing students to tailor their MBA education to their specific career aspirations.
Read More – Top Online/Distance MBA Colleges in Patna
How to Choose the Right MBA Program in India?
When choosing an affordable online MBA program, consider several key factors to ensure you make the best decision for your career. First, evaluate the specializations offered to find a program that aligns with your professional goals. Next, assess the total cost of the program, including tuition and any additional fees, to ensure it fits within your budget.
Ensure the program is accredited by recognized bodies such as UGC and AICTE, as this can significantly impact the value of your degree in the job market.
Key Features to Consider:
- Program Format: Choose between full-time, part-time, or online options based on your current commitments and preferences.
- Specializations: Ensure the program offers specializations that align with your career goals, such as finance, marketing, or entrepreneurship.
- Networking Opportunities: Look for schools with robust alumni networks and industry connections that can benefit your professional growth.
- Support Services: Assess the availability of career services, mentorship programs, and other resources that can support your career development.
- Accreditation: Verify that the program is accredited by recognized bodies such as UGC and AICTE, as this enhances the value of your degree in the job market.
Conclusion
Choosing the right MBA program involves balancing the cost with the quality of education and future career prospects. The institutions mentioned above offer some of the most affordable online MBA programs in India without compromising on quality.
Whether you are seeking a program with a strong industry focus, a specialized curriculum, or a strong emphasis on ethical business practices, there is an affordable option available for you.
FAQs on Affordable MBA in India
Absolutely. Many online MBA programs are designed to be flexible, allowing you to balance work and studies effectively.
Typically, an MBA program lasts for two years for full-time students. However, many universities also offer part-time or online options that can extend the duration based on the student’s pace.
Yes, many universities offer merit- and need-based scholarships. Check specific university websites for details.
Most universities provide a range of specializations, including Marketing, Finance, Human Resources, Operations, and Entrepreneurship. Some institutions may also offer unique specializations tailored to current industry trends.
The fee structure varies by university and specialization, but generally, it ranges from INR 80,000 to INR 2,00,000 per year.