Pursuing an MBA in India is a dream for many students. However, the rising cost of management education often discourages aspirants. Many private MBA colleges charge between ₹10–25 lakhs, making it unaffordable for middle-class families. But here’s the good news—there are top MBA colleges in India under 5 lakhs that offer world-class education, strong placement records, and an excellent return on investment (ROI).
In this guide, we will explore the top 10 MBA colleges under 5 lakhs, compare their fee structure, placements, entrance requirements, and explain why they are great choices for students looking for a low cost MBA in India.MBA Colleges Under 5 Lakhs in India – Why They Matter
Choosing an MBA college under 5 lakhs doesn’t mean you compromise on education quality. Several reputed government MBA colleges and university departments offer affordable MBA programs subsidized by the government. These colleges provide:
- Low tuition fees (₹1–5 lakhs for 2 years)
- Strong placement opportunities in top companies
- High ROI MBA programs due to low investment and good salary packages
- Recognition by UGC/AICTE, ensuring credibility
Low Cost MBA Colleges in India
Some of the most well-known low cost MBA colleges in India include:
- Faculty of Management Studies (FMS), Delhi University
- Tata Institute of Social Sciences (TISS), Mumbai
- Delhi School of Economics (DSE)
- Department of Financial Studies (DFS), Delhi University
- Jamnalal Bajaj Institute of Management Studies (JBIMS), Mumbai
These institutions charge MBA fees below 5 lakhs while providing placements equivalent to premium B-schools.
Government MBA Colleges with Low Fees
Government institutions are the best choice for MBA aspirants on a budget. Their fee structure is highly subsidized, and placement statistics often rival private B-schools charging 5–10 times more.
Examples of Top Government MBA Colleges Under 5 Lakhs:
- FMS Delhi – Fees approx. ₹2 lakhs for the entire MBA program
- TISS Mumbai – HRM & LR program fees around ₹2.5 lakhs
- JBIMS Mumbai – Around ₹3 lakhs
- Delhi School of Economics – Approx. ₹1.5–2 lakhs
- University Business School (UBS), Chandigarh – Fees under ₹1 lakh
Best ROI MBA Colleges in India
When you’re investing in an MBA, ROI matters more than just the fee. Some colleges under 5 lakhs give an ROI higher than IIMs.
For instance:
- FMS Delhi – Average placement salary ₹25+ LPA with a fee of ₹2 lakhs.
- JBIMS Mumbai – Average CTC ₹20+ LPA with a fee around ₹3 lakhs.
- TISS Mumbai – Consistently strong placements in HR and consulting.
This makes them best ROI MBA colleges in India.
Affordable MBA Colleges in India – Private and Public Options
Apart from government universities, some private universities also provide affordable MBA courses under 5 lakhs:
- Christ University, Bangalore
- SIMSREE, Mumbai
- Nirma University, Ahmedabad
- Banaras Hindu University (BHU), Varanasi
- Jamia Millia Islamia (JMI), Delhi
These institutes strike a balance between affordable MBA fees and decent placements.
Top MBA Colleges with Low Fees and High Placements
Here’s a list of top MBA colleges under 5 lakhs with excellent placements:
- FMS Delhi – Fees: ₹2 Lakhs | Avg Package: ₹25+ LPA
- JBIMS Mumbai – Fees: ₹3 Lakhs | Avg Package: ₹20 LPA
- TISS Mumbai – Fees: ₹2.5 Lakhs | Avg Package: ₹18 LPA
- SIMSREE Mumbai – Fees: ₹1.3 Lakhs | Avg Package: ₹12 LPA
- UBS Chandigarh – Fees: ₹1 Lakhs | Avg Package: ₹10 LPA
- Delhi School of Economics – Fees: ₹1.5 Lakhs | Avg Package: ₹12 LPA
- DFS Delhi – Fees: ₹2 Lakhs | Avg Package: ₹12 LPA
- BHU Varanasi – Fees: ₹1.5 Lakhs | Avg Package: ₹8 LPA
- JMI Delhi – Fees: ₹1.5 Lakhs | Avg Package: ₹7–8 LPA
- Nirma University – Fees: ₹4.5 Lakhs | Avg Package: ₹9 LPA
MBA Admission Under 5 Lakhs – Entrance Exams
Most top MBA colleges under 5 lakhs accept scores from national-level exams like:
- CAT (for FMS, JBIMS, DFS, DSE, UBS, SIMSREE)
- XAT (for TISS, though it conducts TISS-NET separately)
- CMAT (for SIMSREE, JBIMS)
- DU-based entrance exams for some colleges
Aspirants should prepare for CAT and CMAT primarily for these budget-friendly MBA programs.
MBA Fees in Government Colleges
The MBA fee structure in government colleges is often between ₹50,000 to ₹3 lakhs, making them the most affordable MBA options in India. Unlike private colleges, they don’t demand capitation fees or donations, ensuring transparency.
MBA Under 5 Lakhs with Placement Guarantee
While no college can legally “guarantee” placements, the following colleges have consistent placement records above 95%:
- FMS Delhi
- JBIMS Mumbai
- TISS Mumbai
- SIMSREE Mumbai
- UBS Chandigarh
Distance MBA Under 5 Lakhs
For working professionals, distance MBA programs under 5 lakhs are a smart choice. Top options include:
- IGNOU MBA – Approx. ₹37,800
- Symbiosis Centre for Distance Learning (SCDL) – ₹60,000–₹1 lakh
- ICFAI Distance MBA – Around ₹1.5 lakhs
- Amity Online MBA – ₹3 lakhs approx.
These provide flexibility, affordability, and recognition.
Online MBA Affordable Fees India
With the rise of digital education, online MBA programs in India have become popular. Some affordable online MBA options:
- Amity Online MBA
- Manipal University Online MBA
- NMIMS Global Online MBA
- UPES Online MBA
Fees range between ₹1.5 to ₹3.5 lakhs, well under the 5-lakh budget.
MBA Colleges Without Donation in India
Many private colleges demand donations, but reputed government and central universities don’t. For example:
- Delhi University (FMS, DFS, DSE)
- Jamia Millia Islamia (JMI)
- Banaras Hindu University (BHU)
- University Business School (UBS), Chandigarh
These colleges focus on merit-based MBA admissions without donation.
IIM MBA Fees Under 5 Lakhs – Is It Possible?
Most flagship IIM MBA programs cost 15–25 lakhs, but some IIM Executive or Online programs are under 5 lakhs. For example:
- IIM Bangalore Online Certificate Programs
- IIM Indore Distance/Executive Courses
- IIM Calcutta MOOCs on Management
Though not full-time MBAs, they provide IIM branding at lower costs.
MBA Scholarships in India
For students from economically weaker sections, many colleges offer MBA scholarships. Examples:
- National Scholarship Portal (NSP) schemes
- State government scholarships
- Institute-level fee waivers (FMS, TISS, BHU, JMI)
This further reduces the net MBA cost under 5 lakhs.
Case Study – ROI of FMS Delhi MBA
- Investment: ₹2 lakhs for 2 years
- Average Placement: ₹25–30 LPA
- ROI: Over 12x return within the first year of placement
This makes FMS Delhi not only the best MBA under 5 lakhs but also one of the top ROI MBA colleges in the world.
FAQs
1. Which is the best MBA college under 5 lakhs in India?
FMS Delhi is widely regarded as the best, with low fees and high placements.
2. Are IIMs available under 5 lakhs?
No, full-time IIM programs are expensive, but executive/online IIM programs are under 5 lakhs.
3. Can I get an MBA without donation in India?
Yes, government universities like FMS, JBIMS, BHU, JMI, UBS don’t require donation.
4. Which distance MBA is cheapest in India?
IGNOU MBA is the most affordable, at under ₹40,000.
5. What is the average salary after MBA under 5 lakhs?
Top colleges offer average packages between ₹8–25 LPA, making them high-ROI programs.
Conclusion
Pursuing an MBA doesn’t have to drain your finances. By choosing top MBA colleges under 5 lakhs, you get a combination of affordability, placements, and high ROI. Institutes like FMS Delhi, TISS Mumbai, JBIMS Mumbai, and UBS Chandigarh prove that world-class management education is possible without spending 20+ lakhs.
If you are preparing for CAT 2025 or other MBA entrance exams, keep these budget-friendly colleges in mind—they may just be your ticket to a rewarding management career.