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Online MBA courses will charge a tuition fee in the range of ₹1.5 lakh to ₹3 lakh or even more, and this might not be easy to pay up front. EMI facilities enable students to pay their course fee in installments on a monthly basis. EMI facility is offered by most UGC-approved universities offering their online MBA courses through installment payment facilities that depend on the fees as well as payment duration. Almost all the online universities offer EMI facilities where the student can pay his or her fees in installments. Here we discuss online MBA EMI schemes, payment facilities and universities providing flexible EMI schemes in India.
Equated Monthly Instalment, commonly known as EMI allows you to pay their online MBA fee on a monthly basis instead of paying the entire fee amount upfront or every semester. There are many universities that offer EMI facility through various banks, NBFCs, and other payment platforms such as Propelld, Eduvanz, GrayQuest, and Liquiloans. There are also universities offering zero cost or no cost EMI where there will be no additional interest charged as long as the student pays as per the specified payment schedule. In such schemes, the interest burden is borne by the university or its financial partner.
| Aspect | Details |
|---|---|
| Typical Structure | Financing the total programme fee through monthly or scheduled instalments |
| What it splits | The total programme fee (usually ₹1.5–3 lakh for 2 years) |
| Common Tenure | 3, 6, 9, 12, or 24 months |
| Interest | Often 0% (“no-cost EMI”) when processed through the university’s financing partner |
| Who Offers It | University directly, or via a partnered bank/NBFC/fintech |
| Eligibility Check | Basic KYC, income proof, or a co-applicant in some cases |
Different types of instalment payments may be offered by online MBA universities for paying the course fees. Payment mode, interest rate, processing fee, and repayment period differ from one university to another. Various types of EMI and instalment payments include:
| EMI Type | How It Works | Best Suited For |
| No-Cost/Zero-Cost EMI | You pay the course fee in fixed monthly instalments. The university or finance partner covers the interest cost as per the plan terms. | Students who want to pay the fee each month without an additional interest cost. |
| Semester-Wise Payment | The total fee is divided into payments for each semester instead of one full payment. | Students who prefer fewer payments instead of monthly EMIs. |
| Bank/NBFC Education Loan EMI | A bank or NBFC pays the course fee, and you repay the loan through monthly EMIs with interest. | Students who need a longer repayment period. |
| Credit Card EMI | The course fee is paid through a credit card and converted into monthly EMIs by the card provider. | Students who have a credit card with enough available limit. |
As per official sources of universities and admission websites, the following are the online MBA programs that offer a well-defined EMI plan. The figures provided below are a standard figure for reference purposes only, the exact amount of EMI is determined by the specialisation selected and scholarship applied.
| University | Total Programme Fee (Approx.) | Per-Semester Fee (Approx.) | EMI Starting From | Tenure |
|---|---|---|---|---|
| Amity University Online | ₹1,99,000 | ₹49,750 | ₹8,292/month (no-cost EMI) | 24 months |
| LPU Online | ₹1,61,600 | ₹40,400 | ₹6,733/month (no-cost EMI) | 24 months |
| Manipal University Jaipur (Online Manipal) | ₹1,80,000 (₹1,53,000 after current 15% discount for full-fee payment) | ₹45,000 (₹38,250 after discount) | ₹6,375/month (no-cost EMI) | 12 or 6 months |
| Chandigarh University Online | ₹1,65,000–₹2,20,000, depending on specialisation and applicable scholarship | ₹41,250–₹55,000 | No-cost EMI available; monthly amount varies by plan | Varies |
| JAIN Online (JAIN University) | ₹1,60,000–₹1,96,000, depending on specialisation | ₹40,000–₹49,000 | From about ₹6,917/month | Varies |
| Dr. D.Y. Patil Vidyapeeth Online |
₹ 1,89,400
|
₹ 44,400 -
₹ 50,000
| EMI options may be available | Varies |
There are various methods of payment in online MBA universities that help the students to pay the course fees in instalments. The most popular method is no cost EMI, which is available in almost all major online MBA universities. Bank/NBFC loans are other methods of payments for students who require a longer time frame for repayment of their loan amounts. Credit Card EMI is one such rare method that is available at Amity Online.
| Factor | No-Cost EMI | Bank/NBFC Education Loan | Credit Card EMI |
| What it means | The course fee is divided into fixed monthly instalments, with the interest cost covered as per the no-cost EMI terms. | A bank or NBFC finances the course fee, and you repay the amount through monthly EMIs with applicable interest. | The course fee is paid through a credit card and converted into monthly EMIs by the card provider. |
| Interest | Usually no additional interest for the student under a genuine no-cost EMI plan, subject to the terms. | Interest is charged as per the lender’s terms. | Interest or other charges may apply unless a promotional 0% offer is available. |
| Payment Period | Depends on the university and finance partner. | Can offer a longer repayment period. | Usually available for shorter periods such as 3, 6, 9, or 12 months. |
| Approval | Based on the eligibility criteria of the university or finance partner. | Requires loan approval from the bank or NBFC. | Depends on the available credit limit and card issuer’s rules. |
| Extra Charges | Processing or other charges may apply as per the plan. | Interest, processing fees, and other loan charges may apply. | Processing fees, interest, or other card charges may apply. |
| Late Payment | Late fees or other charges may apply as per the EMI terms. | Late payment can lead to penalties and other charges. | Late fees and additional interest may apply as per the card issuer’s terms. |
| Suitable For | Students who want to pay their MBA fee in smaller monthly instalments. | Students who need a longer repayment period. | Students who already have a credit card with enough available limit. |
The documents that are required for online MBA EMI depends upon the university as well as its finance provider. Free of cost EMI could have KYC documents as the only requirement whereas, loan from banks/NBFC would need additional documents of income/financial statements. The list of documents that needs to be prepared by students is given below:
| Document | Purpose |
| PAN Card | Used for identity verification and KYC. |
| Aadhaar Card | Used to verify identity and address. |
| Salary Slip / Income Proof | May be required to verify income and repayment capacity. |
| Bank Statement | May be used by the finance partner to assess eligibility and repayment ability. |
| Passport-Size Photograph | May be required for the application form. |
| Bank Account Details | Used for EMI payments or other payment-related requirements. |
An EMI plan can help in making the online MBA course fee affordable, but students should look into the terms before opting for such schemes. No cost EMI is not always free of any charges. Consider the below details before opting for an EMI scheme.
| What to Check | Why It Matters |
| Foreclosure or Prepayment Charges | Some finance partners may charge a fee if you want to pay the remaining EMI amount early. |
| Processing Fee and GST | A no-cost EMI plan may still have a processing fee and applicable GST. |
| Late Payment Charges | A missed EMI can lead to late fees, additional charges, or other penalties. |
| Total Fee Covered by EMI | Check whether the EMI covers the full course fee or only the tuition fee. Registration, exam, or other fees may be separate. |
| Refund Policy | If you leave the course, check whether the university refunds the paid amount and how the remaining EMI is handled. |
| Repayment Period | Check the number of monthly instalments and the total amount you will pay during the EMI period. |
| Terms of the Finance Partner | Read the finance partner’s terms carefully, as they may have separate rules for cancellation, late payment, and early repayment. |
An online MBA EMI scheme will provide flexibility in managing the course fee by making payment on EMI basis. The most common thing seen in all online universities is that they provide free EMI schemes, whereas, some universities provide EMI schemes through banks, NBFCs, and credit cards as well. Before you choose for an EMI scheme, you must compare the fees of online MBA, monthly EMI, tenure, processing fees, GST, late payment penalty. Moreover, you need to check that which fees come under the coverage of the EMI scheme.
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