How to Get Scholarship for MBA in India

Overview IIM Scholarships and Fee Waivers International MBA Scholarships Education Loans as an Alternative Tips to Maximise MBA Funding Sources and Verification FAQs

Overview

An MBA from a top B-school in India costs between INR 15-45 lakh. Scholarships can make this investment far more manageable. This guide covers every major scholarship option for MBA students, from IIM fee waivers to government schemes and corporate funding.

All IIMs offer need-based and merit-based financial assistance. Here is how it typically works:

Many IIM alumni associations and individual alumni fund scholarships for current students. These are typically need-based and administered through the respective IIM's financial aid office. Amounts range from INR 50,000 to INR 5 lakh.

IIM Scholarships and Fee Waivers

All IIMs offer need-based and merit-based financial assistance. Here is how it typically works:

International MBA Scholarships

If you are considering an MBA abroad, these scholarships can help:

Fulbright-Nehru Fellowship: For MBA in the USA. Covers tuition, living, and travel
Chevening Scholarship: For MBA in the UK. Fully funded
DAAD Scholarship: For MBA in Germany. Covers tuition and living expenses
Stanford Reliance Dhirubhai Fellowship: Full funding for MBA at Stanford GSB
Narotam Sekhsaria Foundation: Interest-free loans up to INR 20 lakh for MBA abroad

Education Loans as an Alternative

If scholarships do not cover full fees, education loans are widely available:

Lender	Loan Amount	Interest Rate	Collateral
SBI (IIM students)	Up to INR 30 lakh	8.5-9.5%	Not required for IIMs
Credila (HDFC)	Up to INR 40 lakh	9-11%	Required above INR 7.5 lakh
Prodigy Finance	Up to full fees (abroad)	Variable	No cosigner needed
Incred / Avanse	Up to INR 50 lakh	10-13%	Varies

Tips to Maximise MBA Funding

Apply to every eligible scholarship: Do not assume you will not qualify. Many scholarships go unclaimed due to lack of applicants
Prepare a strong essay: Most scholarships require a personal statement. Invest time in writing a compelling narrative
Get income certificates early: Many need-based scholarships require verified income certificates. Get these prepared before admission
Check with your employer: Some companies sponsor MBA education for employees with a bond clause
Combine scholarships: You can often stack multiple scholarships (e.g., IIM fee waiver + Aditya Birla + SC/ST government scholarship)

IIM Ahmedabad

Need-based: Up to 100% tuition waiver for students with family income below INR 4.5 lakh
SC/ST/PwD: Full tuition fee waiver
Education Loan: SBI and other banks offer collateral-free loans for IIM-A

IIM Bangalore

Means-based scholarships: Covers 50-100% tuition based on family income
Merit scholarships: Based on first-year academic performance
Alumni scholarships: Funded by alumni for deserving students

General IIM Fee Waiver Structure

Family Income	Fee Waiver (Typical)
Below INR 4.5 lakh	100% tuition waiver
INR 4.5 - 8 lakh	50-75% tuition waiver
INR 8 - 12 lakh	25-50% tuition waiver
SC/ST/PwD (any income)	100% tuition waiver

1. AICTE PG Scholarship

Parameter	Detail
Amount	INR 12,400/month for 24 months
Eligibility	GATE-qualified students admitted to AICTE-approved MBA/PGDM programmes
Note	Applicable mainly to MBA (Tech) programmes

2. Post-Matric Scholarship for SC/ST/OBC

Amount: Full tuition + maintenance allowance
Eligibility: SC/ST/OBC category, family income below specified limits
Apply: National Scholarship Portal or state portal

3. Central Sector Scheme (for PG students)

Amount: INR 20,000/year
Eligibility: Continuation from UG scholarship for PG students

4. Aditya Birla Scholarships

Parameter	Detail
Amount	INR 1.75 lakh/year for 2 years + mentorship
Eligibility	Students at IIMs, XLRI, FMS, MDI, SPJIMR, NITIE
Selection	Academic merit + interview by Aditya Birla Group leaders
Prestige	One of the most prestigious scholarships in Indian MBA

5. OP Jindal Engineering and Management Scholarships

Amount: Up to INR 3 lakh/year
Eligibility: Students at top-50 B-schools, merit-based

6. Reliance Foundation Scholarship

Amount: Up to INR 2 lakh/year + mentorship + networking
Eligibility: First-year MBA students at top institutes

7. IIM Alumni Scholarships

Sources and Verification

Information last reviewed on 24 Jun 2026.

Fees, cutoffs, admission steps, placements, and programme details can change. Always cross-check the latest institutional or authority notice before acting.

FAQs

Yes, if your family income is below INR 4.5 lakh, most IIMs offer 100% tuition waiver. Combined with government scholarships and corporate scholarships, you can fund your entire MBA with minimal out-of-pocket expense.

No. The Aditya Birla Scholarship, OP Jindal Scholarship, and many alumni scholarships are purely merit-based with no income criteria. High academic performance and leadership are the key selection factors.

The scholarship is open to students admitted to partner institutes (IIMs, XLRI, FMS, MDI, etc.). Applications are typically invited in August-September of the first year. The process includes an application form, essay, and interview with Aditya Birla Group leadership.

Yes. FMS Delhi (fees under INR 3 lakh) is the most affordable top MBA. With scholarships at IIMs, the net cost can be reduced significantly. Some students also work part-time or use savings from prior work experience.