B.Com in Banking and Insurance Course: Fees, Top Colleges, Eligibility

At a Glance: B.Com in banking and insurance is a highly specialized course aiming to develop the technical skills required to take up roles such as financial advisor, accountant, or cashier. It is a three-year course with affordable fees and good placement returns. Colleges such as SRCC, Hindu, and Christ University have some of the best B.Com programs in the country.

Key Insights 

• B.Com in Banking and Insurance is a course that gives an important direction to your career. It is a 3-year course with fees ranging from 50k to 3 lakhs while offering an average salary of INR 3 to 6 lakhs per annum.
• A student, after completing BCom in Banking and Insurance, can work as an insurance advisor, financial analyst, risk manager, bank officer, or loan officer. Admissions are done on merit as well as entrance basis. 
• It is a course that blends practical and theoretical aspects to grant industry-specific knowledge, requiring minimal eligibility requirements of just class 12th. 
• Top colleges for B.Com are SRCC, LSR, Hindu College, and Christ University. The best careers in this stream are as an accountant, financial advisor, and cashier. 

B.Com in Banking and Insurance Course: Bachelor of Commerce in Banking and Insurance is an industry-based course. The purpose of these courses is to give individuals an insight into the workings of the Banking and Insurance industry.

Students enrolled in these courses will study the basics of the industry, the financial institutions, products, and the legal and regulatory framework.

B.com in Banking and Insurance offers a wide variety of banking and financial services to users. Students who are looking to pursue their careers in this field can opt for a Bachelor of Commerce in Banking and Insurance. First and foremost, let us discuss:

B.Com in Banking and Insurance Course Key Details

What is a Banking and Insurance degree?

The three-year, full-time B.Com. The banking and Insurance curriculum covers a variety of banking and insurance-related topics. It combines training in banking and insurance with soft skills like public relations and communication.

The goal of this course is to equip trained graduates to handle a variety of industry difficulties. It provides plenty of employment prospects in the banking and insurance sectors.

What does it offer to candidates? 

B.com in Banking and Insurance provides information that is both theoretical and practical for the banking and financial industry. It improves managerial and analytical abilities to use a variety of financial instruments.

Lessons focus mostly on customer service, commercial, public, and private banking, bank management, and lending finance. Those interested in a career in banking can finish a Bachelor’s degree program in business administration,

which can also be utilized as a solid foundation for understanding the financial sector if students decide to pursue other courses or degrees.

Who should do this course?

The ideal candidate for a B.Com in Banking and Insurance degree is someone with an interest in the financial world, strong customer service skills, an understanding of the basics of finance, a love of numbers, and a desire to work in the finance business.

B.com in Banking and Insurance: Eligibility criteria

Students must complete the 10+2 or any other comparable exam from a recognized board with an overall grade of at least 50% to be eligible for the B.Com. Banking and Insurance program.

Students also need to have studied either the Commerce, Science, or Art streams in their 10+2 years. The student must be younger than 25. For admission, several colleges consider entrance test marks equally. 

Fees for B.com Banking and Insurance 

In India, the average cost of a B.Com. In Banking and Insurance is between INR 1 and 5 LPA. It may vary from college to college. The institute, facilities, teaching style, faculty, and other factors may affect the course prices.

Admission Process For The B.Com In Banking and Insurance

Since the course comes under the B.Com umbrella, students’ entrance procedures are not significantly altered. Students who want to pursue a B.Com. In Banking and Insurance must ensure they meet the prerequisites listed above.

• Additionally, for merit-based admissions and entrance exam-based admissions, students should score well on their entrance tests.
• There are two possible bases for B.Com. Banking and Insurance admissions. Some institutions need an entrance test for admission, while others provide merit-based admissions.
• Both the university website and the college website are available for applications for admission.

Top Colleges For B.Com Programs in Banking and Insurance Course

The most well-known universities that offer the B.Com in Banking and Insurance are as follows:

• Shri Ram College of Commerce, Delhi
• Mithibai College, Mumbai
• Lady Shri Ram College for Women, Delhi
• Mumbai’s Narsee Monjee College of Commerce and Economics
• Hindu College, Delhi
• Christ Deemed University, Bengaluru
• ST. Joseph’s College Of Commerce, Bangalore

Syllabus for B.Com in Banking and Insurance 

The fundamentals of the banking and insurance systems are included in the B.Com in Banking and Insurance syllabus. The curriculum consists of theoretical classes on banking and commerce.

Students who complete the course will have a variety of career opportunities in finance. Three years and six semesters are required for the B.Com. Banking and Insurance degree.

Several of the course’s core topics are listed below:

• Principles and Practice of Banking
• Business Management
• Insurance Law and Practice
• Cost Accounting
• Financial Accounting

What Are The Best Careers in B.Com in Banking and Finance Course

Two industries that are rapidly changing and undergoing a revolution are banking and insurance. Banks are the foundation of all activity since they play a central role in every financial transaction.

One of the most important financial services nowadays is the insurance industry. 

For B.Com graduates in banking and insurance, there are several positions available in both public and private businesses. Many different businesses, educational institutions, public accounting firms, banks, policy planning, foreign trade, budget planning, inventory control, and merchant banking are places where students might find employment. 

Students may decide to pursue additional studies in M.Com or other related degrees like CA, CFA, FRM, ACCA, etc., to have a better grasp of the connected banking and insurance themes.

But, just right after B.Com even you have a lot of opportunities. Some of the top professional profiles open to such graduates are:

Accountant

Administrative tasks carried out by accountants include monitoring schedules, filing, answering phones, transcribing conversations, and creating paperwork. If an accountant works for an accounting firm, they could have extra duties.

Accounting businesses assist customers in areas relating to their financial affairs, and can even create tax filings and financial statements. Meeting with customers to go through their finances, equipment, real estate, and tax obligations is the accountant’s role.

An accountant typically earns INR 2,64,000 per year.

Financial Advisor

Financial Planner is another name for a financial advisor. Although there may not be any formal criteria, firms like financial counselors with college degrees. Undergraduate and graduate degree programs in financial counseling are available at colleges and institutions.

For people joining this career, certain degrees in business, accounting, or finance are also advised. Retirement planning, investing strategies, and insurance are frequently included in the coursework for financial advising programs.

Advanced math courses, as well as courses in economics and human relations, are required for graduates. Graduate programs provide students with internship opportunities in banks and other financial institutions where they can get the crucial practical experience required for the role.

They make an average of INR 4,24,000 each year.

Cashier

Like retail salespeople, cashiers assist consumers in making the appropriate product selection. They welcome clients as they enter the store and respond to inquiries regarding the goods. They help customers find what they want and persuade them to buy the goods.

They are paid an average of INR 1,77,000 each year.

These are a few examples of the career opportunities after B.Com in Banking and Insurance. Some more job roles offered to graduates are – Auditors, Actuaries, Bookkeepers, Human Resource managers, Budget Analysis, Business Operations managers, etc..

Finance is a highly competitive academic field; however, there are several opportunities for B.Com graduates with two years of experience to get into the world of finance.

We have talked about the roles that are available at banks and insurance companies for graduates with a B.Com background.