Fee Structure and Payment Schedule

Revised Fee structure: MBA 2020-22

Online academic instruction commences on 01 July 2020.

S.No.Fee DescriptionAmount in INRTimelines for Payment*
1First Instalment Fee inclusive of Admissions Deposit Fee:
a. Admission Deposit Fee27,500To be paid when accepting the offer
b. Balance First Instalment Fee3,02,500
2Second Instalment Fee (to be paid in first year)5,50,000November 30, 2020 (tentative)
3Third and Final Instalment Fee (to be paid in second year)4,40,000June 30, 2021 (tentative)
Total Fees13,20,000 
4Refundable Caution Deposit25,000To be paid two weeks before moving into campus accommodation
5First Year Living Expenses: INR 1,50,000/-  
a. Part-1: Initial Payment50,000June 19, 2020
b. Part-2: Payable based on campus accommodation occupation schedule1,00,000

To be paid two weeks before moving into campus accommodation at the recalculated living expenses intimated at that time

Online academic instruction commences on 01 July 2020

6Second year Living Expenses (indicative) Subject to revision every year based on the inflation and other costs1,57,500June 30, 2021(tentative)

* Tentative dates

Note:

1. Start date of academic year: July 01, 2020 (Online classes)

2. Living expenses are inclusive of hostel, food and laundry charges

Refund policy

MBA 2020-22

IFMR GSB Krea University’s refund policy conforms to the norms set by UGC and is in accordance with the University Grants Commission (UGC) Notification on“UGC Notification Reg.: Refund of Fees and Non-Retention of Original Certificates”, which was published on their website on November 2, 2018, please click here.

The table below details the same:

S.No.Percentage of refund of feesPoint of time when notice of withdrawal of admission is received by IFMR GSBWithdrawal request to be received on or before
1100%15 days or more before the formally-notified last date of admission17 June 2020
290%Less than 15 days before the formally- notified last date of admission18 June – 01 July 2020
380%15 days or less after the formally-notified last date of admission02 July – 16 July 2020
450%30 days or less, but more than 15 days, after formally-notified last date of admission17 July – 01 August 2020
50%More than 30 days after formally- notified last date of admission02 August 2020

Note:

  1. Notified last date of admission is July 1, 2020 .
  2. An amount of 5% of the fees paid by the student subject to a maximum of INR 5,000/- towards processing charges will be deducted from the refundable amount before making the refund wherever applicable. This is applicable only to applicants in the category of S.No.1 in the above table.
  3. The one-time Deposit of INR 25,000/- will be refunded at the time of graduation from IFMR GSB or withdrawal of admission, subject to recoveries, if any, pending from the student.
  4. Living fee will be refunded after deducting the applicable amount based on occupancy in the campus.
  5. Applicants who wish to withdraw should send the duly filled-in and signed Withdrawal / Refund Request Form (click here to download the form) along with a scanned copy of cancelled cheque to gsb.mbaadmissions@krea.edu.in. The date of receipt of mail, with the filled-in signed form and cancelled cheque by the Admissions office, will be considered for the calculation of refundable amount. The amount shall be refunded to the eligible student within fifteen working days from the date of receiving the mail.

Revised Fee structure: MBA 2020-22

Online academic instruction commences on 01 July 2020.

S.No. Fee Description Amount in INR Timelines for Payment*
1 Admissions cum First Instalment Fees:
a. Admission Deposit 25,000/- March 20, 2019
b. First Instalment Fees 2,75,000/- April 03, 2019
2 Refundable Caution Deposit 50,000/- June 17, 2019
3 First year Boarding and Lodging Charges 1,20,000/- June 17, 2019
4 Second Instalment Fees 5,00,000/- November 30, 2019
5 Third Installment: First installment of third and Final Installment Fee 2,50,000 30 June 2020
Second installment of third and final installment fee 1,50,000 25 September 2020
6 Second Year Living Expenses inclusive of laundry fees: INR 1,38,000/- (based on a rebate of INR 12,000/- on INR 1,50,000/-) Additionally will be reduced to reflect the months of non-presence on campus
a. Part-1 38,000 30 June 2020
b. Part-2 70,000 To be paid 2 weeks prior to Campus start
C. Part-3 30,000 To be paid by 21 March 2021 (which can be adjusted against your caution deposit)

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