Bangalore has emerged as one of the prominent destinations for management education in India. Many students across India wish to pursue their higher studies from the best b schools in Bangalore. The city not only has a thriving start-up and business ecosystem but also houses some of the most sought-after business schools in Bangalore. It has some of the best BBA and MBA colleges that students can opt for. 

Yet, with the growing cost of quality education, it has become difficult for many students to finance their education on their own. This is the reason why many top business schools in Bangalore provide education loan partnerships and EMI-based fee payment plans. This comprehensive guide would enable you to take a look at b schools in Bangalore that offer loans and financial assistance through easy instalments. It also explains to you the application process and offers tips to help you find the best option for you.

Why Consider Education Loans or EMI for MBA/BBA Programs?

Deciding to study at the best business school in Bangalore, like AGBS Bangalore, is one thing, but to be able to afford the tuition fees, accommodation, and living expenses is a different story. Education loans and EMI options can be a great way to afford that without putting yourself into great financial difficulty. Here are some reasons why this option is worth considering if you're applying to a business school in Bangalore:

  • The ever-increasing costs - Tuition fees, accommodation and living expenses are on the rise each year in big cities like Bangalore. So, budgeting and financing your education and living expenses becomes a crucial part of the process.
  • No immediate financial burden - An education loan will help you cover your tuition fees and other expenses, and you don't have to shell out the entire amount at once.
  • Deferred payments - Most student loan options have a moratorium period where you don't have to make a single payment right after you leave school. Repayment starts once you're placed and start earning.
  • Tax benefits - The interest paid on education loans is eligible for tax deduction under section 80E of the Income Tax Act
  • Flexibility with EMI Plans - EMI plans offered by some business schools in Bangalore allow you to pay fees in easy monthly instalments. This is an especially viable option for self-financed students.

You can study at one of the best b schools in Bangalore and concentrate on learning without being worried about making ends meet with the right education loan or EMI plan.

Features to Watch Out for In College-Based Financial Support

If you are hunting for a business school in Bangalore that offers financial assistance, it might be a good idea to know what to look for in terms of the kind of support that you value. With the school-based assistance program, an increasing number of B-schools in Bangalore have financial tie-ups these days to make the loan journey easier for their students. Here are some useful features to watch out for:

  • Tie-ups with reliable banks and NBFCs - Some of the colleges have tie-ups with banking and non-banking financial institutions like HDFC Credila, Avanse, ICICI Bank, Axis Bank, etc., so that the loan process becomes simpler for their students.
  • Interest-free EMI or deferring the repayment - Some colleges offer interest-free EMI schemes to their students or even the facility of starting the loan repayment after the completion of the course.
  • Collateral-free loans - Business schools in Bangalore that have tie-ups have provisions that help their students get loans without having to pledge collateral. (Typically, only for the top-ranked b schools) 
  • On-campus loan assistance - In case you choose a college with a financial aid desk, students can get assistance on campus for their loan documentation, eligibility requirements and also to liaise directly with banks.
  • Loan with scholarship packages - A scholarship, along with an education loan, can help you avail of partial financial aid and borrow lesser amounts, to alleviate future financial burden.

Best Business Colleges in Bangalore With Education Loans & EMI Option 

Here is the list of business schools in Bangalore, which have tie-ups with education loan providers and have an EMI-based fee payment scheme so that you can pay your fees in a financially smart way:

Amity Global Business School (AGBS), Bangalore 

  • Programs: PGPM + MBA and GDBA + BBA 
  • Fees (First year only): MBA ₹3.52 L; BBA ₹1.49 L 
  • Loan Partners: Orient Bank of Commerce, Punjab National Bank and Indian Bank
  • EMI Plans: Covers tuition fee, hostel, books, etc.; repayment to start in 6-12 months after placement
  • Apply: Choose a loan/EMI option during application; AGBS facilitates on-campus document submission 

ISBR Business School, Bangalore 

  • Program: PGDM/MBA (Finance, Marketing, Analytics) 
  • Fees: ₹10.8 L (all three years) 
  • Loan Partners: Public and private banks and well-established NBFCs – complete documentation support
  • EMI Plans: Education loan released directly to the institute; EMIs generally start after placement
  • Apply: Apply through the ISBR portal; apply for loan assistance after admission – sanction letters issued

IIBS Bangalore (International Institute of Business Studies) 

  • Program: BBA (International Business, Digital Marketing, Analytics) and MBA/PGDM
  • Fees: BBA 6 L (3 years) 
  • Loan Partners: Approved for Student Credit Card Scheme (central government-backed scheme) from West Bengal, Bihar and Jharkhand governments; works with SBI, Bank of Baroda, IDBI, Axis, etc. 
  • EMI Plans: Zero collateral, processing fees for eligible students; EMIs start after placement or post-graduation
  • Apply: Mention loan interest when applying for admission; IIBS' loan desk directly assists in the process

These b schools in Bangalore have sound education loan tie-ups, along with well-worked-out EMI repayment plans, so you can afford to study there and pay back only after you get placed without having to stress about paying a huge sum upfront.

How to Apply for Education Loans or EMI-Based Payment Plans

It is important to get familiar with the documentation and process for an education loan or EMI-based payment option that will make the admission process faster and help you study at a top b school in Bangalore, without worrying about the fees.

Documents Needed 

  • Admission letter of the college 
  • KYC documents- aadhaar card, PAN card, passport, voter ID
  • Income proof of parent/guardian- salary slips/IT returns/bank statements
  • Academic documents- mark sheets of Class 10, 12 and Graduation

Application Process 

  • Get admission and receive the official offer letter
  • Receive the detailed fee structure from the college
  • Apply for the loan through the college's preferred bank/NBFC or apply directly through the lender's portal
  • If you choose an EMI plan, select that option at the time of admission. The college or lender will help you set up digital monthly instalment 

Loan Disbursement 

  • The bank/financial institution verifies the loan application and supporting documents
  • On approval, the borrower signs the loan agreement
  • The loan amount after approval is directly paid to the college as per the fee structure
  • You will receive a confirmation from both the lender and the college regarding the payment  

Tips for Managing Student Loans Responsibly

An education loan is a very good investment that you can make for your education at a b school in Bangalore, provided it is done the right way. A few simple practices and tips to stay financially healthy during and after your studies are as follows: 

  • Only borrow what you need - Remember not to overestimate the expenses and take a loan for more than what is required. Restrict the loan to only that required for tuition, hostel, books and living expenses and avoid any extravagant or unnecessary expenditure. This will reduce the EMI and will also not feel like a big burden later.
  • Know your repayment terms - It is equally important to understand the terms and conditions of the loan, like interest rate, number of months of moratorium period, date when the EMIs will start and whether it is simple or compound interest that will be applicable for the loan. Be sure to read through the loan agreement and ask any questions you may still have from your loan provider. It will help you with the budget and financial planning.
  • Pay partially if you can - If your financial situation allows, start paying back your loan partially while studying. This could mean just clearing the interest amount every month, which will reduce your overall loan amount in the long run. While this may seem like a good idea, do make sure that you don't end up defaulting on your payments or incurring penalties.
  • Maintain a good credit score - Your credit score indicates your creditworthiness and financial habits. It can impact your chances of getting future loans and credit cards, or even a job. Hence, it is important to take care of it by making timely payments, not piling up avoidable debts and being disciplined. A good credit score also helps you get a good loan deal at lower interest rates. 

In addition to helping you optimise your education loan, the habits and practices you develop while attending a b school in Bangalore will also help you become ready for the working world and financial independence. 

Conclusion 

The decision to join one of the finest business schools in Bangalore can turn around your life. But with the ever-increasing cost of education, budgeting and financial planning are equally important as choosing the best place to study. Fortunately, the top b schools in Bangalore have started offering their students a range of scholarships, easy EMIs and education loan assistance. 

With a little research and planning, you can understand the loan application process and compare the different EMI plans. These EMI schemes can be combined with the scholarships and fee waivers available to help you budget effectively. As a new MBA or BBA student, choosing a business school in Bangalore with good education loan assistance can help you focus on your studies with minimal financial stress. So take the time to research and compare your options, and apply early to make the most of the benefits provided by the colleges.

FAQS

Can international students apply for education loans? 

While most banks offer loans to Indian citizens only, some NBFCs may assist international students, provided they have co-applicants who are residents of India.

Do I need a co-applicant? 

Yes. Banks mostly ask for a parent/guardian as a co-applicant when sanctioning the loan.

When does repayment of the loan start? 

The EMI for most loans start after the moratorium period, which is generally 6–12 months after the completion of the course.

Can I do a prepayment on my education loan without penalty?

Banks usually do not levy penalties on prepayments. However, it is advisable to check the terms with the lenders.

Do all B-schools in Bangalore provide financial aid support?

No, not all the schools provide financial aid. You should enquire with the admissions team before applying.