Cheap MBA Colleges in India: What ₹1, ₹2 and ₹5 Lakh Actually Buy (2026)
“Cheap” is a smaller category than it sounds. Of the 197 colleges in our directory, 6 charge ₹1 lakh or less in total, 17 charge ₹2 lakh or less and 46 charge ₹5 lakh or less. Two things stand out. The cheapest tier is not the easiest to get into, and the median reported placement at ₹2–5 lakh (₹7 lakh a year) is almost the same as at ₹5–10 lakh (₹7.4 lakh), for roughly half the fee.
The ladder
| Total fee | Colleges | Median percentile band starts at | Median reported placement (LPA) | Report a placement | List CAT as the only route | States |
|---|---|---|---|---|---|---|
| ₹1 lakh or less | 6 | 55 | 6 | 5 | 2 | 3 |
| ₹1–2 lakh | 11 | 40 | 5 | 7 | 2 | 8 |
| ₹2–5 lakh | 29 | 50 | 7 | 25 | 7 | 15 |
| ₹5–10 lakh | 62 | 50 | 7.4 | 55 | 5 | 17 |
| ₹10–15 lakh | 49 | 60 | 8.8 | 45 | 3 | 16 |
| Above ₹15 lakh | 40 | 85 | 15.1 | 38 | 13 | 21 |
Medians, not averages, so a few unusually high or low colleges don’t distort the row. Placement figures are each institute’s own reported average, and some colleges publish none, which is why the “report a placement” column is smaller than the college count.
What the ladder shows
Cheapest is not easiest. The median percentile band starts at 55 in the ₹1-lakh tier but at 40 in the ₹1–2 lakh tier. The very cheapest seats are mostly public university departments, and they draw the most competition. If your score is on the low side, the ₹1–5 lakh range has more room than the bottom rung.
₹2–5 lakh is where the value sits. It has 29 colleges across 15 states, the widest choice at this price, and a median reported placement of ₹7 lakh against ₹7.4 lakh in the tier that costs twice as much.
Fee and percentile only rise together at the top. Between ₹5 lakh and ₹15 lakh the median band moves only from 50 to 60 percentile. Above ₹15 lakh it jumps to 85. For a low-percentile candidate, the ₹5–15 lakh range is where entry stays realistic, and what the extra money changes is the median placement, from ₹7.4 to ₹8.8 lakh.
₹1 lakh or less: 6 colleges
| College | City | State | CAT band | Total fee | Avg CTC | Also accepts |
|---|---|---|---|---|---|---|
| Jamia Millia IslamiaCentre for Management Studies Jamia Millia Islamia | New Delhi | Delhi | 65–80 %ile | ₹0.5 L | n/a | XAT, CMAT, MAT |
| BK SchoolB. K. School of Professional and Management Studies | Ahmedabad | Gujarat | 40–55 %ile | ₹0.8 L | 5.1 LPA | CMAT, GCET |
| FMS MSU BarodaFaculty of Management Studies Maharaja Sayajirao University of Baroda | Vadodara | Gujarat | 40–55 %ile | ₹0.8 L | 7.3 LPA | CMAT, GCET |
| DBE DelhiDepartment of Business Economics University of Delhi | New Delhi | Delhi | 90–95 %ile | ₹1 L | 15.1 LPA | CAT only |
| AMU AligarhAligarh Muslim University Department of Business Administration | Aligarh | Uttar Pradesh | 60–75 %ile | ₹1 L | 6 LPA | CAT only |
| BBAU LucknowBabasaheb Bhimrao Ambedkar University | Lucknow | Uttar Pradesh | 50–65 %ile | ₹1 L | 5 LPA | CUET-PG |
Cheapest first. Total two-year programme fee excluding hostel.
Check the last column before you get excited: several of these fill seats through a university or state test rather than CAT. The sub-₹2 lakh page breaks down which test each needs.
₹5 lakh or less, ranked by placement against fee
21 of the 46 colleges under ₹5 lakh report an average placement of ₹6 lakh a year or more. Here are the 15 with the best ratio of placement to fee:
| College | City | CAT band | Total fee | Avg CTC | CTC ÷ fee | Also accepts |
|---|---|---|---|---|---|---|
| DBE DelhiDepartment of Business Economics University of Delhi | New Delhi | 90–95 %ile | ₹1 L | 15.1 LPA | 15.10 | CAT only |
| FMS MSU BarodaFaculty of Management Studies Maharaja Sayajirao University of Baroda | Vadodara | 40–55 %ile | ₹0.8 L | 7.3 LPA | 9.12 | CMAT, GCET |
| BK SchoolB. K. School of Professional and Management Studies | Ahmedabad | 40–55 %ile | ₹0.8 L | 5.1 LPA | 6.37 | CMAT, GCET |
| AMU AligarhAligarh Muslim University Department of Business Administration | Aligarh | 60–75 %ile | ₹1 L | 6 LPA | 6.00 | CAT only |
| BBAU LucknowBabasaheb Bhimrao Ambedkar University | Lucknow | 50–65 %ile | ₹1 L | 5 LPA | 5.00 | CUET-PG |
| IM BHUInstitute of Management Studies Banaras Hindu University | Varanasi | 85–92 %ile | ₹2.1 L | 10.1 LPA | 4.81 | GMAT |
| UBS ChandigarhUniversity Business School Panjab University | Chandigarh | 80–90 %ile | ₹2.8 L | 12.4 LPA | 4.43 | CAT only |
| MANIT BhopalMaulana Azad National Institute of Technology Bhopal | Bhopal | 80–90 %ile | ₹1.7 L | 7.5 LPA | 4.41 | CAT only |
| DoMS Anna UniversityDepartment of Management Studies Anna University | Chennai | 40–55 %ile | ₹1.4 L | 6 LPA | 4.29 | TANCET, MAT |
| University of LucknowUniversity of Lucknow | Lucknow | 50–65 %ile | ₹1.2 L | 5 LPA | 4.17 | CUET-PG |
| SMS CUSATSchool of Management Studies CUSAT | Kochi | 70–85 %ile | ₹2.2 L | 8.6 LPA | 3.91 | CMAT, KMAT |
| CUSATCochin University of Science and Technology | Kochi | 70–85 %ile | ₹2.2 L | 8.6 LPA | 3.91 | CMAT, KMAT |
| MMMUT GorakhpurMadan Mohan Malaviya University of Technology | Gorakhpur | 50–65 %ile | ₹1.5 L | 5.5 LPA | 3.67 | CUET-PG, UPTAC |
| PUMBADepartment of Management Sciences Savitribai Phule Pune University | Pune | 60–80 %ile | ₹3 L | 9.4 LPA | 3.13 | MAH-CET, XAT, CMAT, MAT, ATMA |
| DoMS NIT TrichyDepartment of Management Studies NIT Tiruchirappalli | Tiruchirappalli | 80–90 %ile | ₹2.9 L | 8.7 LPA | 3.00 | CAT only |
Ratio = average placement (LPA) divided by total two-year fee (Rs lakh). Highest first.
What “cheap” leaves out
- Hostel and living costs. The fees here are programme fees only. For a student moving cities these can be a large share of the real cost.
- Entrance and counselling fees. Each test and each counselling round has its own charge.
- Domicile and seat rules. Public institutions reserve seats under state or central rules. Ask for the seat matrix.
- Recognition. A low fee isn’t a reason to skip the check. Verify AICTE approval and know the refund rules before you pay.
How to choose
- Set your real ceiling, including hostel and living costs, not only the programme fee.
- Look at the percentile band where each college actually admits, and be honest about where your score sits.
- Find the test each one needs, and when its next window opens. The state test calendar helps.
- Compare placement against fee, and treat “n/a” as unknown rather than zero.
Questions people ask
What is the cheapest MBA college in India?
In our directory it is Jamia Millia Islamia, at ₹0.5 L in total two-year fees, excluding hostel. Fees change every year, so confirm with the institute.
How many MBA colleges cost under ₹5 lakh?
46 of the 197 in our directory (data verified 4 September 2026): 6 at ₹1 lakh or less, 17 at ₹2 lakh or less.
Which MBA under ₹5 lakh has good placement?
21 colleges under ₹5 lakh report an average placement of ₹6 lakh or more. The best ratios of placement to fee in our data are DBE Delhi (15.1x), FMS MSU Baroda (9.1x), BK School (6.4x).
Is a cheap MBA easier to get into?
Not necessarily. The cheapest tier has a median band starting at 55 percentile, higher than the ₹1–2 lakh tier at 40.
Does paying more buy a better salary? We compared fee and reported placement for 197 colleges: MBA fees vs salary by percentile band.
Before you pay anything: check that the college is AICTE-approved and know the refund rules.
Where this comes from
Fees, percentile bands, placement averages and tests are from this site’s college directory, last verified on 4 September 2026. Confirm every fee with the institute.