Great Lakes - PGPM & PGDM 2025
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In the changing job market scenario, the MBA is becoming much more important than ever. An MBA is seen as a degree that would not only provide a good career but also increase salary manifold. MBA prepares students to fit into the corporate world. The student is also opting for MBA courses because of the economically beneficial prospects of an MBA, even if this is a costlier course than most other courses. The rise in the demand for MBA courses, despite the cost of the courses, led the banks to offer education loans to students. Read this article to learn about the comparison between Education loans offered by the different private and government banks, terms and conditions as well as interest rates.
In the dynamic scenario of corporates, the importance of having an MBA degree is increasing day by day. MBA is seen as a degree that would not only fetch a good career but at the same time would increase the salary manifold. Furthermore, an MBA provides the opportunity to pursue courses from any background if one has a three-year bachelor's degree courses. Applicants can opt for an MBA education in different B-Schools by appearing for different examinations like CAT, GMAT, XAT, etc. Therefore, students who are choosing their career path after their Bachelors can pursue an MBA for better career opportunities. MBA prepares students in the domain of finance, marketing, management, international business, human resources, operation, and global supply chain management, to fit into the corporate world. The candidates, both freshers and working professionals are opting for an MBA, despite its high cost, either to shift the domain and industry or to get a better salary package. In both cases, economic profitability takes center stage. The recent news of students of ISB, Hyderabad, getting a whooping 229% increase in the pre to post-salary after an MBA highlights the importance of an MBA. Apart from the higher chances of employability, this idea of economic gain in the longer run has led students and applicants to look for student loans to pursue an MBA. Due to the high demand from the students, the government and the privately run banks provide education loans to the students. The interest rates can be varied from 8 to 12 percent, depending on the banks and conditions. Students who have taken loans are liable to repay the loans after the completion of their courses or the commencement of their jobs.
Here is the list of some of the Government and Private Banks that provide MBA education loans. At the same time compare the loans offered by government-run Indians Banks as well as their terms and conditions, and interest rates.
Banks | Loan | Interest Rates | Terms and Conditions | Repayment | Rate Type | |
State Bank of India | Upto INR 7.5 Lakhs | 08. 15% | Should be Indian Nationals Secured admission to Professional/ | To be paid in EMIs over a maximum repayment of 15 years in 18 EMIs. EMI starts 12 months after the completion of the course or 6 months after getting the employment, whichever is earlier. | Floating | |
Above INR 7.5 Lakhs | 08.15% | |||||
Punjab National Bank | PNB Saraswati |
| Resident of India Admission to the regular full-time Degree and Diploma courses of the Premier Institutions that are listed Programs at prestigious institutions like IIMs IITs IISc, XLRI | Maximum up to 15 years Repayment starts, one year after the completion of the course | Floating | |
Upto INR 7.5 Lakhs | ||||||
Above INR 7.5 Lakhs | ||||||
PNB Udaan | 9.25% to 12.75% P.A. | Resident of India
| Maximum up to 15 years Repayment starts, one year after the completion of the course | |||
Upto INR 7.5 Lakhs | ||||||
Above INR 7.5 Lakhs | ||||||
PNB Pratibha | 8.20% to 11.90 % P.A. | Admission to regular full-time Degree or Diploma courses or PG Degree or Diploma Courses of Premier Institutes that are listed. Eligible for part-time Post Graduate Programs in Management for Executives at IIMs, part-time Certificate Courses at ISB Hyderabad & Mohali campus, Post Graduate Program at IIM, Three-year part-time weekend Post Graduate Diploma Program at XLRI, and Post Graduate Diploma in Management (B & FS) at NIBM Pune. | Maximum up to 15 years Repayment starts, one year after the completion of the course | |||
Upto INR 7.5 Lakhs | ||||||
Above INR 7.5 Lakhs | ||||||
Bank of Baroda | Baroda Gyan | Floating Upto 7.5 Lakhs 11.15% | Graduation courses: BA, B.Com, B.Sc.,/Post-Graduation courses: Masters & PhD./ Professional courses like engineering, medical, agriculture, veterinary, law, dental, management, architecture, computer, etc. The student is of Indian National. | The loan is repayable in a maximum of 10-15 years after the moratorium period and with a maximum of 120 installments. In case of a loan of more than 7.5 Lakhs, the maximum number of installments is 180. | Fixed and Floating | |
Fixed Upto 7.5 Lakhs (Fixed)- 11.40% | ||||||
Baroda Scholar | Floating - range from 9.70%- 1170 % depending on the institutions Fixed- Ranging from 11.40- 13. 70% | Graduation courses: BA, B.Com, B.Sc.,/Post-Graduation courses: Masters & PhD./ Professional courses like engineering, medical, agriculture, veterinary, law, dental, management, architecture, computer, etc. Certificate courses in the premier institute. The student is of Indian National. Applicants of study abborad. | The loan is repayable in a maximum of 10-15 years after the moratorium period and with a maximum of 120 installments. In case of a loan of more than 7.5 Lakhs, the maximum number of installments is 180. The moratorium period - Course period + 1 year. | |||
Axis Bank | 4- 7.5 Lakhs | 14.7% P.A | Citizen of India Have admission to an MBA/PGDBM College Co-applicant should be able to produce income-proof Cibil Score should be healthy above 700 | 7-8 years (One has the option to start the loan repayment after a moratorium period of 6 months to 1 year) | Floating Loan | |
Above INR 7.5 Lakhs | 13.7% P.A | |||||
Union Bank | IIM Ahmedabad (Upto INR 35 Lakh) | 8.10 % P.A+ 0.10% | A bachelor’s degree in any of the disciplines. Minimum completed age of 25 years A valid GMAT / GRE score. Minimum 4 years of full-time work experience after completion of graduation. | The maximum repayment period is 15 years (after completion of the course) or up to 60 years of age of the borrower, whichever is earlier. ( Repayment stars from the next month after the completion of the course) | Floating | |
IIM Kozhikode (Upto 14 Lakh) | 8.10% + P.A + 0.75% | Working Executives | The maximum repayment period is 15 years (after completion of the course) or up to 60 years of age of the borrower, whichever is earlier. ( Repayment stars from the next month after the completion of the course) | |||
IIM Jammu | 8.10% + P.A + 0.75% | Working Executives | The maximum repayment period is 15 years (after completion of the course) or up to 60 years of age of the borrower, whichever is earlier. ( Repayment stars from the next month after the completion of the course) | |||
IIM Indore | 8.10 % P.A+ 0.10% | Bachelor’s Degree or its equivalent Completed at least 5 years of full-time managerial/ professional experience | The maximum repayment period is 15 years (after completion of the course) or up to 60 years of age of the borrower, whichever is earlier. ( Repayment stars from the next month after the completion of the course) | |||
IIM Lucknow ( Upto 26 Lakh) | 8.10 % P.A+ 0.10% | Bachelor’s Degree or its equivalent Completed at least 5 years of full-time managerial/ professional experience | The maximum repayment period is 15 years (after completion of the course) or up to 60 years of age of the borrower, whichever is earlier. ( Repayment stars from the next month after the completion of the course) |
Different Banks provide education loans for MBA courses in reputed institutions like IIMs. Apart from the different credentials and terms and conditions that different banks have, there are also some common eligibility criteria for MBA education loans. Here is a list of the eligibility criteria:
You must be Indian Nationals.
You must have been taken admission in the institution, that the banks prefer.
Most of the banks provide study loans for MBAs to individuals up to 35 years of age.
Bachelor’s Degree or its equivalent
The percentage of marks obtained at the bachelor's degree should be a minimum of 50 or equivalent CGPA
Some of the Banks require a minimum work experience of a minimum of 5 years.
Admissions Open | Globally Recognized by AACSB (US) & AMBA (UK) | 17.3 LPA Avg. CTC for PGPM 2024 | Application Deadline: 1st Dec 2024
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Here is a list of expenses that are covered under the education loans provided by most of the banks in the education loans for MBA.
Hostel Fees or the Accommodation Fees.
Tuition Fees along with Caution deposits, building funds, and refundable deposits among other expenses.
Examination, Library, and Laboratory Fees including the expenses for the books and study materials.
Travel expenses.
Purchase of Laptops and other electronic gadgets or equipment that are required to complete the course.
Any other expenses required to complete the course- like study tours project work, thesis, etc.
Even the cost of a two-wheeler is covered as part of an MBA education by some of the leading banks.
Several banks provide education loans for the MBA course which has its benefits. Students need to think and decide which student loan is best for them depending on the interest rates, repayment period, etc.
No. One can not get an education loan for an MBA at a 0% interest rate.
The time for the repayment of loans taken for an MBA could vary between 8 to 15 years depending on the terms and conditions of the type of loan and banks. It also depends on the amount of the loan as well.
The education loan in ICICI Bank ranges from 9.5% per annum to 14.25%
Hello,
CAT percentage score: 92.4%ile; Educational background: B.Sc. Botany; Work Experience: 34 months; CGPA 9 in Class 10 With such a profile, the niche programs like IIMA FABM (Food and Agribusiness Management) and IIML ABM (Agri-Business Management) present a competitive edge. This is because these programs offer good diversity in academic backgrounds that align well with your profile.
While your 12th (65.7%) and graduation (65.2%) scores may eliminate opportunities at the older IIMs for their core PGP programs, newer IIMs in the list are IIM Udaipur, IIM Raipur, and IIM Kashipur; the MBA programs at the IITs like IIT Madras, IIT Roorkee, or IIT Kharagpur are also worth examining with their slightly lower cut-offs.
Emphasise academic diversity, work experiences, and career goals that are in agribusiness to strengthen your application and prepare for interviews to eventually apply strategically to maximise your chances at institutions whose values align with yours.
You can use the online CAT College Predictor tools to estimate the probability of receiving interview calls from different IIMs and other top MBA colleges based on your CAT percentile of 92.4% and academic background.
Hello,
Once you have applied for CAT under the General Category, you will not be able to change your category after the exam, even during the IIM selection process. Category information that you would provide during the CAT application process would be used throughout the selection cycle, including shortlisting for interview and finally admitting candidates.
Here are a few key points to consider:
Make sure your category is correctly selected for future reference during the application not to attract complications in your admission processes.
With a 59.95 percentile in CAT 2024 and ST category, you can expect calls from newer IIMs like IIM Bodh Gaya, IIM Jammu, and IIM Sirmaur, as they have lower cutoffs for reserved categories. Non-IIM options like IIT Madras (MBA), NIT Trichy (MBA), and state universities like Delhi School of Economics (DSE) might also consider your profile. Apply to institutions that prioritize diversity and offer ST reservation. Ensure your application highlights strong academics and achievements.
For more details you can visit the link given below
https://bschool.careers360.com/cat-percentile-predictor
Hi,
Based on the previous year analysis, According to your CAT 2024 percentile some of the best colleges offering MBA and PGDM course in Telangana in which you have chances to get a seat are the following
For more information about the colleges in which you have chances to get a seat you can predict using MBA college predictor tool provided below
https://bschool.careers360.com/cat-college-predictor
Hope this information will help you
Hi,
With a CAT 2024 score of 93.94 percentile, you have a good chance of getting calls from several IIMs. Here are some possibilities:
IIM Jammu
IIM Bodhgaya
IIM Udaipur
IIM Kashipur
IIM Vizag
Apart from IIMs, you can also consider other prestigious B-schools like:
Management Development Institute (MDI) Gurgaon
FMS Delhi
IIT Delhi
IIM Lucknow
IIM Indore
IIM Raipur
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Admissions Open | Globally Recognized by AACSB (US) & AMBA (UK) | 17.3 LPA Avg. CTC for PGPM 2024 | Application Deadline: 1st Dec 2024
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