Diploma in Banking and Finance is a 1-year diploma level course that can be done right after class 12th.
The course deals with all the basic aspects of banking and finance and trains students in the field of banking, finance, insurance, investment, risk management, computer application, IT and more.
Know More About Banking Course
The students who have completed class 12th with any stream are eligible to apply for this course. But some of the colleges like MIT Pune ask for a graduation degree as a prerequisite. It offers this program for 4 months to the students who have completed graduation.
The admissions are based on merit, followed by an interview. Very few colleges offer this diploma course on-campus in a regular mode.
Mostly, this course is pursued online or through correspondence. There are many institutes and colleges that offer this specialized diploma course. The average fees charged in this course is around INR 20,000-30,000, but it varies in different colleges as per their affiliation, location and course structure.
The diploma holders can get jobs in sectors such as corporate banking, auditing departments, financial consultancies etc.
Read More Diploma in Banking Finance Jobs & Career Options
The average salary that a Banking and Finance Diploma holder can expect is around INR 2-6 Lakhs Per Annum in job roles such as Financial Analyst, Credit & Risk Manager, Store Manager, Internal Auditor, and much more.
For better jobs and a better salary, most of the students go for a Bachelor degree or advanced certification courses which help them to get higher salary jobs in the Banking & Finance field.
| Course Name | Diploma in Banking and Finance |
| Course Level | Diploma after Class 12 or Graduation |
| Duration | 1 year |
| Examination Type | Semester |
| Eligibility | Bachelor’s degree or Class 12 or any equivalent examination with a minimum aggregate of 50% marks and above |
| Admission Process | Merit List, Personal Interview or Entrance examination |
| Average Fees | INR 10,000-40,000 |
| Average Salary | INR 3 to 7 Lakhs per annum |
| Top Recruiting Companies | Banking Sector, Credit Administration, Auditing Departments, Corporate Banking Sectors, Financial Consultancies, etc. |
| Job Positions | Financial Analyst, Credit and Risk Manager, Internal Auditor, Loan Counsellor, Administrative Officer, Financial Consultant, etc. |
Diploma in Banking and Finance: What is it About?
- Diploma in Banking and Finance is a comprehensive study related to the banking field which deals with the rapidly changing finance sector.
- This course provides a wider view of the constant changes pertaining to finance, methods of dealing with the financial crisis as well as the basis for bailouts for various banks across the globe.
- This program aims at advancing the skills of the students by developing their knowledge in areas of finance and banking, with the overall polishing of skills required in the practice.
- Some of the job opportunities that a diploma holder after this course can get are Banking Officer, Assistant Manager, Financial Consultant, Financial Analyst, Data Entry Operator, and much more.
Why study Diploma in Banking and Finance?
- According to statistics, the Banking and Financial sector of the country is ever increasing and hence qualified candidates are required to serve in this sector, both in the government sector and private sector companies and organizations.
- With the help of this course, students are trained in the basics of banking and finance and gain the required proficiency needed to work in the field.
- Candidates develop skills to apply advanced quantitative techniques required in the working of the field, that is considered a prerequisite to advance the career in corporate finance, investment banking, and financial markets.
- Students learn both about the domestic and international banking fields in order to gain acquaintance of how the market functions in an economy and across the country’s financial credibility.
- The presentations and case studies help them to develop interpersonal, cognitive and critical skills which are required to work effectively in this field.
- After this course, candidates are imparted with the necessary skills of understanding, knowledge about the workings of economic markets and global financial system which helps them to land a credible job in the field of finance.
Diploma in Banking and Finance Admission Process
Candidates who aspire to pursue this diploma course are required to fulfill the necessary compulsory criteria as prescribed by respective colleges.
Some colleges admit students after completing their Graduation, and some colleges admit students after completing Class 12, which totally depends upon the norms formulated by the colleges and institutes.
- To get admission, candidates are required to clear the written test or entrance test conducted by the department in order to select the qualified students for the course. This is not a necessary factor since some of the colleges take admission purely on the basis of merit.
- Some colleges prefer to take a Personal Interview to further select the candidates for admission.
- Applicants can fill the forms online as well as offline by availing for the form from the college office.
- All important information including admission dates, entrance exam and names of shortlisted candidates will be notified on the website and through email.
Diploma in Banking and Finance Eligibility
The eligibility criteria is different in each college, but the main requirements for availing the program of Diploma in Banking and Finance are as follows:
- Candidates are required to qualify Class 12 or their Bachelor’s degree or any equivalent examination. This totally depends upon the college since some colleges admit students with intermediate qualifications, and some prefer graduates.
- They should obtain a minimum aggregate of 50% marks and above from a recognized university listed under UGC/AIU or Board.
In some colleges like NMIMS, MIT Pune applicants may have to go through the entrance examination as well.
Diploma in Banking and Finance Entrance Exams
Reputed colleges and universities which offer this diploma course such as NMIMS, Indian Institute of Banking and Finance, etc. conduct an entrance examination for admission.
These exams help colleges to test the student’s knowledge and ability based on which the selection takes place.
The syllabus of these entrance exams includes General Awareness questions, General English, Logical Reasoning and might have General Banking questions.
How to Prepare for these entrance exams?
- For General Awareness, keeping yourself updated with current affairs really helps. Apart from this, reading news everyday also helps.
- For general English, there are several books and study material which you can get to increase your reading comprehension abilities and vocabulary.
- You can prepare the Logical Reasoning part with the help of several available sources online and in books.
- There may be a section of Banking & Finance which may include the basic questions of commerce, accounting and business studies. For this part, you can refer to the Class 11 & 12, commerce books and other relevant materials.
Diploma in Banking and Finance Syllabus
The course curriculum covers various aspects of the banking and finance sector. The syllabus is a balanced divide between theory and case studies.
The examination is held at the end of each semester with the submission of projects and assignments, the weightage of which will depend on the marks as prescribed by colleges.
A semester wise syllabus of this diploma course is mentioned below:
| Semester I | Semester II |
|---|---|
| Principles & Practices of Banking | Marketing of Financial Services |
| Legal & Regulatory Aspects of Banking | Business Law |
| Accounting & Finance for Bankers | Taxation – Direct and Indirect |
| Business Economics | Retail Banking |
| Corporate Social Responsibility | Information Systems for Managers |
| Organizational Behavior | Business Communication and Etiquette |
Know More: Diploma in Banking and Finance Syllabus, Books and Curriculum
Diploma in Banking and Finance Colleges
Many colleges offer this Diploma course to the qualifying students in the mode of regular classes, correspondence, online and distance learning.
Check the below table to know the top diploma in Banking and Finance colleges in India:
| College Name | Location | Average Fees |
|---|---|---|
| NMIMS | Navi Mumbai | INR 51,200 |
| National Post Graduate College | Lucknow | INR 15,000 |
| Marthwada Mitramandal’s College of Commerce | Pune | INR 30,000 |
| Greenway Institute of Management studies | Dehradun | INR 25,000 |
| Indo Asian Academy Degree College | Bangalore | INR 50,000 |
| New Arts, Commerce and Science College | Ahmed Nagar | INR 9,520 |
| Subbalakshmi Lakshmipathy College of Science | Maurai | INR 40,000 |
| Guru Kashi University | Bathinda | INR 55,000 |
| Swami Vivekanand University | Madhya Pradesh | INR 23,100 |
College Comparison
The table below shows differences between some of the favourable colleges to pursue Diploma in Banking and Finance:
| Parameters | National Postgraduate College, Lucknow | MIT College of Management, Pune | New Arts, Commerce, and Science College, Ahmed Nagar |
|---|---|---|---|
| Overview | It is the only autonomous college in Lucknow that enjoys the highest status of 'College with Potential for Excellence'. | The college comes under the MIT Group of Institutes, which has around 72 institutes under its umbrella. They offer the students a unique holistic learning experience based on real corporate issues. | It is one of the biggest and renowned educational institutes under Savitribai Phule Pune University. |
| Ranking | #28 for commerce by the Week 2017 | #122 for overall university ranking by Business Today 2019 | - |
| Annual Fees | INR 15,000 | INR 20,000 | INR 9,500 |
| Average Placement Salary | INR 2,50,000 | INR 4,00,000 | INR 1,92,000 |
| Top recruiting companies | Apex, Exil, HCL, iGATE, IBM, Wipro, i-flex, Genpact, South Indian Bank, TATA, etc. | Bank of Baroda, Union Bank, Bajaj Allianz, Birla Sun Life Insurance, Bharti Axa Life Insurance, Angel Broking, Citi Bank, etc | TCS, Hiphysics Laboratory, Terasoft Pvt. Ltd, Jubilant Chenosys, etc. |
Return on Investment (ROI)
| ROI Rank | College Name | Average annual fees | Average placement offer |
|---|---|---|---|
| 1 | MIT College of Management, Pune | INR 20,000 | INR 400,000 |
| 2 | National Postgraduate College, Lucknow | INR 15,000 | INR 250,000 |
| 3 | New Arts, Commerce, and Science College, Ahmedabad | INR 9,500 | INR 192,000 |
Source: Official College Website
Diploma in Banking and Finance vs Diploma in Accounting and Finance:
They both are diploma level courses of 1 year providing education and in depth knowledge in fields such as Banking, Accounting, Finance, etc.
Although these two courses are similar, there are differences between them in terms of syllabus and course curriculum.
Below table shows some of the basic differences between the two courses:
| Parameters | Diploma in Banking and Finance | Diploma in Accounting and Finance |
|---|---|---|
| Course Overview | This course is a diploma level course that provides training and increases the competence of students to evaluate the constant changes pertaining to finance, methods of dealing with the financial crisis as well as the basis for bailouts for various banks across the country | This course is a diploma level course that makes students aware of different aspects of Accounting and Financial management policies which covers areas such as Fundamentals of Accounts and Finance, Indian Banking system, Use of technology in Accountancy and Finance, etc. |
| Eligibility | Class 12 or Graduation with at least 50% | Class 12 with at least 45-50% |
| Syllabus | Principles & Practices of Banking, Business Economics, Taxation, Business Law, Retail Banking, etc. | Fundamentals of Accounting, Accounting & Audit Practice, Financial Risk Management, Indian Financial System, etc. |
| Average Fees | INR 30,000- 60,000 | INR 10,000-60,000 |
| Average Salary | INR 2-6 Lakhs Per Annum | INR 2-6 Lakhs Per Annum |
Know More: Diploma in Accounting and Finance
The career options after both these courses are the same, and students can find employment in the commerce sector in fields such as accounting, banking, finance, business consultation, etc.
Diploma in Banking and Finance Jobs & Career Options
After the successful completion of this course, graduates have opportunities to join reputed banking and investment sectors holding entry level positions in both government sector and private sector.
They are trained in various aspects of Banking and Finance, making them an ideal person for jobs in stock markets, financial firms and much more.
Students are rendered with skills of investments and financial management sectors, gaining knowledge of corporate finance, investments & securities, which can land them with higher paying jobs for both freshers and experienced professionals.
Read More: Diploma in Finance and Banking Jobs & Salary
Diploma holders have a wide arena of job scope in sectors of Banking, Corporate Banking, Financial Sector, Auditing Departments, Credit Administration and other such.
They can work in the positions of Business Analyst, Internal Auditor, Loan Counsellor, Credit and Risk Manager, Stock Analyst, etc.
The table below shows some of the common jobs that you can get after the completion of Diploma in Banking and Finance:
| Job Profile | Job Description | Average Salary per Annum |
|---|---|---|
| Loan Counsellor/Officer | A Loan Counsellor assists clients to get a deeper insight into whether the loan suits the requirement of the clients or not. They also provide clients an understanding of loans, restrictions and repayment policies. | INR 3 LPA |
| Securities Analyst | They are active and abreast about the latest trends and news as well as about mergers and acquisitions, company’s financial stability and position in the market. | INR 4.7 LPA |
| Investment Banker | They assist clients in aspects of mergers and acquisitions, issuing debt, selling equity and advising them regarding lucrative finance opportunities in the future. | INR 8.41 LPA |
| Administrative Officer (AO) | Their work includes providing administrative support to clients and managing their queries. They are also responsible for preparing reports, framing budgets and organization of company records. | INR 3.49 LPA |
| Internal Auditor | They are usually responsible for the auditing of internal documents, ensuring transparency and assisting companies in tallying their finances. | INR 4.67 LPA |
| Recovery Agent | They assist clients to recover their debt and property, working for individuals as well as organizations and companies. | INR 2.5 LPA |
| Market Analyst | They work in performing market research, gathering data to assist companies in meeting their target sales, evaluating and using statistical techniques to research market techniques. | INR 3.55 LPA |
| Financial Analyst | They are responsible to create financial models by gathering data, monitoring and creating a thorough report. Their work also includes identifying trends, forecasting and assisting companies in decision making with respect to finances. | INR 4.46 LPA |
| Money Manager | They are usually employed in top companies and responsible for the management of securities, researching, and monitoring of sales and assets of the company. | INR 8.7 LPA |
| Credit and Risk Manager | The work involves the development and processing procedures in order to reduce credit risk for financial institutions. It also includes building financial models which enable to predict the credit risk criteria for the organization. | INR 18 LPA |
Source: Payscale & Glassdoor
Diploma in Banking and Finance Scope
The scope of employment in the Banking and Finance sector is much higher if the professional has some background in the field. Therefore, if you don’t want to pursue a Bachelor or Postgraduate degree, you should pursue this 1 year Diploma course to get the basic idea about the field
Various aspects like financial planning, asset management, retail banking, and other subjects are included in their syllabus, which makes the diploma holder best for introductory or entry level jobs.
After some experience and clearing the banking exams, professionals are eligible to apply for senior level posts which can get them a salary of around INR 40,000-80,000 per month.
But most of the diploma holders prefer to go for higher education because of so much competition and the qualification obviously helps a lot if getting higher pay jobs.
You can go for one of the following degree courses in commerce after Diploma in Banking and Finance:
-
B.Com
B.Com or Bachelor of Commerce is an undergraduate degree for students who have a background in the commerce field. You can pursue this specialized course after completing the diploma course in specializations such as Accounting, Taxation, Computer Applications, Finance, etc.
-
Advanced certification courses
There are many certifications of 6 months that you can pursue such as Digital Banking, Asset Management, etc. These will make you expertise in that particular area and might help you to find a higher paying job.
If you have pursued this course after your graduation, you can opt for master degree courses such as M.Com or even MBA which helps you find career stability and increase your professional expertise and excellence.
Diploma in Banking and Finance: FAQs
Ques. How can I get a diploma in Banking and Finance?
Ans. Students interested to study this field can get admission in this course after going through an entrance examination or a personal interview round, after you have applied for the course by submitting the application form with your details and background either offline or online.
Ques. What are the subjects included in Diploma in Banking and Finance?
Ans. Some of the common subjects that are included in this 1 year course are:
- Introduction to Banking
- Principles of Banking
- Introduction to Finance
- Investment Banking
- Retail Banking
- Taxation, etc.
Ques. Can I pursue a Diploma in Banking and Finance through correspondence?
Ques. Does colleges provide assistance or placement in getting the jobs after doing Diploma in Banking and Finance?
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