Yes, one can easily get a loan for admission to the best MBA colleges in Delhi NCR. MBA education loans are provided by public sector banks in India, including the State Bank of India, Punjab National Bank, Central Bank of India, Punjab & Sind Bank, Dena Bank, and Canara Bank.
MBA education loans are also offered by private sector institutions including ICICI Bank, Axis Bank, and Kotak Mahindra Bank. Specialized nonbank financial companies (NBFCs) like HDFC Credila Financial Services Limited and Avanse Financial Services also provide MBA education loans in India.
Many interested candidates are concerned about their finances and look for ways to reduce their financial burden because the MBA program is among the most costly in the world. Since there is no repayment required, scholarships are the best option, but not all students will be able to get one. Thus, the most effective strategy for funding your MBA is to apply for an MBA education loan.
Today, loans for MBA admission to the best institute for MBA in Delhi are available with almost all major banks. Some banks even have tie-ups with some of the premier institutes. These banks offer the students a special rate of interest which is normally lower than the market rate of interest. You might feel a little apprehensive that education loans are complicated monsters. But worry not.
Study Loan for MBA Programs Criteria
To qualify for an MBA education loan in top MBA colleges in Delhi, candidates need to fulfill the following requirements:
● Students need to have a grade point average of at least 60% to graduate.
● Their academic records shouldn’t have any gaps.
● The co-borrower should have a CIBIL score greater than 700.
● The candidates must give the bank a medical certificate or additional relevant proof if they have any gaps in their academic record.
How to Apply for an MBA Education Loan
Thanks to modern technology, obtaining an education loan from any location in the nation is now really easy. A candidate’s loan might be available with only a click if his bank accepts online loan applications. This is how it works:
● An online application for an education loan must be filled out by the student.
● The bank will get in touch with the parents and students again to address any queries.
● When the bank sends a representative to the student’s home, the student will sign an application and provide supporting documentation.
● The applicant for an education loan must submit a completed application form together with all necessary supporting documentation.
● The bank’s credit staff will examine and approve the application for an education loan.
● After that, the bank will either authorize the student loan for college or request any more documentation from the student.
● All loan distribution procedures are finished as soon as the student signs the education loan agreement.
● The relevant bank account (either the student’s or the institution’s, depending on the requirements) receives an electronic deposit of the education loan amount.
Documents needed for an MBA Education
● Loan Application in a Bank Format
● Proof of admission to the course
● passport-size photographs
● Provide evidence of address and age if you do not currently have a bank account.
● Copies of the qualifying exam mark sheets
● Cost schedule for the course (found in the course brochure, where the course price is indicated)
● Statement of the borrower’s or co-borrowers bank account for the last six months
● Income tax assessment order (parents’ or students’) no older than two years
● A concise description of the assets and liabilities of the borrower.
Top MBA Institute in Delhi
There are a lot of top MBA colleges in Delhi. Some of them are mentioned below.
IIT Delhi
The greatest MBA programs are offered to students by the best MBA colleges in Delhi NCR. Among the most well-known colleges in India, IIT Delhi grants graduate degrees in research, engineering, and technology. The IIT, Delhi is located in the Hauz Khas area of New Delhi, the capital of the country. Situated on a spacious 320-acre verdant campus in the heart of Delhi, the institute was established in 1961. IIT Delhi is ranked 197th out of all universities in the world in the QS World University Ranking 2024. According to the NIRF 2023 evaluation, IIT Delhi is placed second in the engineering sector and third overall, including in the research area.
International Management Institute (IMI), Delhi:
● The International Business Institute, often known as IMI Delhi, was founded in 1981 as the best MBA institute in Delhi. According to NIRF 2023, the International Management Institute is ranked 34th among India’s best management schools.
● IMI New Delhi provides certification from SAQS, AMBA, NBA, and AACSB. IMI Delhi has been approved by the AICTE and the AIU. Being the first business school in India to get corporate support is the International Management Institute. Establishing IMI Delhi in partnership with IMD Lausanne.
● At IMI Delhi, students can pursue master’s degrees in any field connected to management. The admission fees for IMI Delhi range from INR 7.70 lakh to INR 20.80 lakh. More than 100 firms participated in the 2023 placements at IMI Delhi, with more than 40 recruiters making their initial hires.
● One of the top private business schools in India, IMI Delhi, is well known for its academic excellence as well as its global outlook.
● Students are exposed to international business techniques through IMI Delhi’s partnerships with overseas colleges.
FORE School of Management New Delhi :
● FORE School of Management is one of the best MBA colleges in Delhi NCR for students who want to pursue an MBA program. NIRF has evaluated the B-School as the 63rd-best Top Management College in India for 2023. International business, financial management, and big data analytics are a few of the well-liked PGDM electives the university offers. Together with PGDM and MBA degrees, the institute offers Executive MBA program and FPM studies.
● FORE is well-known as a business school that is committed to providing high-quality corporate contacts, research, and management education.
● The institute offers several courses, including the Executive PGDM, PGDM (International Business), and PGDM.
Jamia Millia Islamia, New Delhi:
● Located in New Delhi, India, Jamia, Millia Islamia is a well-known and well-liked central university. Since its founding in 1920 during the Khilafat Movement, Jamia has grown into a comprehensive educational center committed to academic achievement, community development, and social justice.
● The college provides undergraduate, graduate, and doctorate degrees in a wide range of subjects in addition to the arts and sciences, engineering, law, and social sciences.
● Jamia Millia Islamia’s open, secular atmosphere is one of its distinctive selling qualities; this is necessary to give a varied student body a top-notch education.
● This college still has a significant role in the intellectual and cultural life of the country due to its long history and emphasis on innovation and research.
● The college demonstrates its dedication to social responsibility via the many social programs and initiatives it offers that tackle societal problems and promote diversity.
Lal Bahadur Shastri Institute of Management (LBSIM), Delhi:
● The reputable Lal Bahadur Shastri Institute of Management was established in 1995 and focuses on educating information technology and management. The institute was ranked 34th for Private MBA by Outlook 2021. It offers one Master’s program in computer applications, one fellowship program in management, and postgraduate diploma programs in management with a variety of specializations.
● Preeminent business school LBSIM is dedicated to providing a thorough management education.
● The institute offers full-time PGDM programs in addition to executive education courses.
Birla Institute of Management Technology, Greater Noida:
● BIMTECH, sometimes referred to as the Birla Institute of Management Technology, is one of the best MBA colleges in Noida, located in Greater Noida, Uttar Pradesh, and was founded in 1988. The Birla Group of Companies sponsors it, and the Birla Academy of Art & Culture is in charge of it.
● It scores 44 in the NIRF 2021 “Management” category. It came in third on Business Today’s-MDRA 2021 list of the “Top Private B-Schools of North India.” The NAAC has awarded it an “A+” accreditation rating. Numerous prestigious organizations, such as the NBA, Confederation of Indian Industry (CII), Life Office Management Association (LOMA), and Business School of Impact System (BSIS), have endorsed and recognized it.
The institute is a member of the AIU and has been granted authorization by the AICTE. Additionally, BIMTECH arranges exchange programs for students from several nations, including Australia, Finland, Austria, Poland, and France. Events like webinars, storytelling sessions, and the annual alumni reunion are among the many yearly activities that the vibrant network of over 6,600 BIMTECH alumni hosts.
