Last updated on January 28th, 2026 at 04:26 pm
Pursuing the CFA (Chartered Financial Analyst) Program in India is a prestigious but financially significant journey. Whether you’re a finance student or a working professional aiming for global recognition in investment management, it’s essential to understand the total CFA cost before you begin. The CFA exam fees, including registration charges, enrollment fee, GST (Goods and Services Tax), and optional expenses like study materials, can add up to a substantial amount in Indian Rupees (INR). Since all payments are made in US Dollars (USD) to the CFA Institute, Indian candidates must also consider currency exchange rates and local taxes, which directly affect the final amount charged to their cards or bank accounts.
In this comprehensive guide, we’ll break down the CFA fee structure in India for 2025, level by level covering:
Pro tips on how to reduce CFA exam costs
One-time CFA enrollment fee
Early and standard exam registration fees for Level I, II, and III
Applicable GST for Indian candidates
Optional costs like printed curriculum, rescheduling fees, and coaching
A complete fee comparison table in INR.
CFA fees in India (2025)
The CFA Program fee structure consists of multiple components that candidates must pay at various stages of the certification journey. These include a one-time enrollment fee, exam registration fees for each level, optional charges like rescheduling and printed curriculum costs, and 18% GST applicable in India. All fees are charged by the CFA Institute in USD, but for Indian candidates, we’ve provided approximate INR equivalents based on current exchange rates.
Enrollment fees (one time):
USD $350 (₹29,000)
Paid only once when you register for CFA Level I. This fee is not required again for Level II or III.
Exam registration fees per attempt:
Early Registration: USD $940 (₹77,000)
Standard Registration: USD $1,250 (₹1,02,000)
You can save significantly by registering before the early deadline.
Exam Rescheduling fee
USD $250 (₹20,000)
Applies only if you choose to change your exam date within the exam window.
Goods & Services Tax (GST)
18% GST is added at checkout for candidates with India as their billing country.
For example, a $940 exam fee will incur an additional $169 (₹14,000) in GST.
Printed Curriculum
CFA Institute provides free e-books for all levels.
If you prefer printed study material, it costs around $299 (₹24,000) plus shipping.
Important Note on Retakes:
You must pay the registration fee again if you retake an exam. However, the enrollment fee is only paid once, no matter how many attempts you make.
Payment Methods for Indian Candidates
All fees can be paid online using credit/debit cards. The CFA Institute also offers invoicing options and in some cases, EMI plans via third-party gateways.
| Fee Component | USD Fee | INR Fee (approx) | Notes |
| One-Time Enrollment (Level I only) | $350 | ₹29,000 | Payable only once when you first register |
| Exam Registration – Early | $940 per level | ₹77,000 per level | Early-bird rate |
| Exam Registration – Standard | $1,250 per level | ₹1,02,000 per level | Standard rate |
| Exam Rescheduling (optional) | $250 | ₹20,000 | If you change your exam date |
| GST (India) | 18% on above fees | 18% of total USD fee | Added during payment for Indian candidates |
CFA fees in India (2026)
In 2026, the one time enrollment fee will not be applied. CFA 2026 have changed abit not too much. The syllabus is the same, the weightage have changed also the priority towards real world case studies and sustainability have increased. So not just theory but also practical understanding of all the topics given are important.
| Fee Component | USD Fee | INR Fee (approx) | Notes |
| One-Time Enrollment (Level I only) | – | – | Not applicable |
| Exam Registration – Early | $1,140 per level | ₹99,715 per level | Early-bird rate |
| Exam Registration – Standard | $1,250 per level | ₹1,30,000 per level | Standard rate |
| Exam Rescheduling (optional) | $250 | ₹20,000 | If you change your exam date |
| GST (India) | 18% on above fees | 18% of total USD fee | Added during payment for Indian candidates |
Understanding each component of CFA fees in India
Understanding the CFA exam cost in India is crucial for anyone planning to pursue the Chartered Financial Analyst (CFA) designation. The total cost includes a mix of mandatory fees and optional expenses across different stages. Here’s a complete breakdown of each fee component that candidates in India need to consider:
- CFA Program Enrollment Fee
- CFA Exam Registration Fees
- Taxes (GST) on CFA Fees in India
- Exam Rescheduling Fee
Optional CFA-Related Costs (But Common in India)
While the above are mandatory costs, here are optional but important expenses most Indian candidates should consider:
Study Material and Preparation
Free eBooks: CFA Institute provides e-books with your registration fee.
Printed Curriculum: $299 (₹24,000), optional, plus shipping.
Coaching Classes / Third-Party Material: Ranges from ₹20,000 to ₹50,000 per level, depending on the coaching institute and package.
Travel and Accommodation for Exam Day
Exams are held in major metros like Mumbai, Delhi, Bangalore.
If your city lacks a test center, plan for travel, hotel, and food expenses especially for Level II and III, which have longer testing durations.
c) Practice Tests and Mock Exams
CFA Institute provides some practice materials, but many students buy additional mock tests or question banks from third-party sources.
Budget ₹2,000–₹5,000 extra if you’re investing in additional mock exams.
| Expense Type | Approx. Cost in INR |
| Enrollment Fee + GST | ₹34,000 |
| Exam Fees (All 3 levels, early registration + GST) | ₹2.70 – ₹2.90 lakh |
| Optional Coaching/Materials | ₹60,000 – ₹1.5 lakh |
| Travel, Mock Exams, etc. | ₹10,000 – ₹30,000 |
So, a typical Indian candidate might spend between ₹3.3 – ₹4.5 lakh in total depending on registration timings, optional services, and whether they pass each level on the first attempt.
Total CFA fees for all levels
How much does the full CFA Program cost in India? The answer depends on two major factors: your registration timing (early or standard) and whether you pass each exam on the first attempt. Here’s a breakdown of two realistic scenarios to help you plan your budget.
Best-Case Scenario: Early Registration + No Retakes
If you register during the early window for all three levels and pass each exam on your first attempt, your total CFA fees will be:
Enrollment Fee (One-Time): $350
Exam Fees: $940 × 3 levels = $2,820
Total Base Cost: $3,170 (₹2.65 lakh before taxes)
With 18% GST added, the final cost comes to approximately ₹3.13 lakh.
This is the most cost-efficient path that many Indian candidates aim for to minimize their CFA expenses.
Standard Registration Scenario: Missed Early Deadlines
If you register late and pay the standard exam fee for each level, your cost increases significantly:
Enrollment Fee: $350
Exam Fees: $1,250 × 3 levels = $3,750
Total Base Cost: $4,100 (₹3.4 lakh before GST)
After 18% GST: Final total ₹4.0 lakh
You end up paying nearly ₹75,000 more compared to the early-bird route. Hence, planning your registration dates is essential for cost savings.
| Scenario | Base Cost (USD) | Approx. INR (Pre-GST) | With 18% GST (Approx.) |
| Early Registration (Best) | $3,170 | ₹2.65 lakh | ₹3.13 lakh |
| Standard Registration (Late) | $4,100 | ₹3.4 lakh | ₹4.0 lakh |
Optional Expenses (Coaching, Study Materials, Travel)
While the numbers above reflect only CFA Institute fees, most candidates in India incur additional optional costs:
CFA Coaching/Prep Courses: ₹20,000–₹50,000 per level (up to ₹1.5 lakh total)
Printed Curriculum: $299 (₹24,000), optional
Exam Travel & Stay (if required): ₹5,000–₹20,000+
Mock Exams / Practice Materials: ₹2,000–₹5,000
Total All-In Cost (with coaching & travel): Can range between ₹3.5 to ₹5 lakh, depending on your choices and preparation path.
| Program | Estimated Total Cost (INR) | Duration | Recognition Level |
| CFA Program | ₹2.65–₹4.0 lakh | 2–3 years | Global (Investment Finance) |
| MBA (Tier-1 India) | ₹10–20+ lakh | 2 years | High (Varied Fields) |
| FRM (GARP) | ₹1.2–₹1.5 lakh | 1–2 years | Global (Risk Management) |
| CA (India) | ₹70,000–₹1.5 lakh | 4–5 years | India-specific (Accounting) |
Ready to Take the Next Step?
If you’re serious about passing the CFA exams on your first attempt, you don’t have to do it alone. Mentor Me Careers offers:
Expert CFA coaching programs
Access to industry mentors and doubt-solving sessions
Affordable CFA preparation plans designed for Indian candidates
Personalized support to help you succeed through all three CFA levels
Whether you’re a student starting out or a working professional looking to advance, we’ll guide you through your CFA journey from registration to results.
Contact us today to learn how we can help you crack the CFA exam with confidence.
Is the CFA Program Worth the Cost in India?
Absolutely if you’re committed to a career in finance, especially in global investment roles. While the ₹3–4 lakh cost may seem significant, the return on investment (ROI) is often high:
CFA Level I clears can expect salaries of ₹4–6 LPA
Full CFA Charterholders in India often earn ₹12–30 LPA or more in firms like BlackRock, Morningstar, or global banks
Employers increasingly prefer CFA-qualified candidates for analytical, research, and advisory roles, making the fee a smart career investment.
CFA scholarship
CFA institute offers scholarships to students who are eligible for the scholarships. There are 3 types of scholarships.
- Access scholarship: For those students who are financially not stable to pay such huge amount of cfa fees.
- Students scholarship: Students who are enrolled in the affiliated universities will get the scholarship opportunities. Explore affiliated universities
- Professor scholarship: Who are teaching in the university/ college who are not registered before for CFA.
Tips to save on CFA fees
While CFA exam fees in India are non-negotiable in terms of base pricing, smart financial planning can significantly reduce your overall expenses. Here are the best strategies to help students and professionals minimize CFA-related costs while still preparing effectively
Register Early for Every CFA Exam
One of the easiest ways to save money is to register during the early-bird window. CFA Institute offers a $310 discount per level when you register early instead of waiting for the standard deadline.
Total savings: Over 3 levels, that’s nearly ₹90,000 saved ($930)
Tip: Mark registration open dates and deadlines in your calendar and commit early. It also gives you more time to prepare.
Apply for CFA Scholarships
The CFA Institute Scholarship Program can drastically reduce your fees. For example:
Access Scholarship: Exam fee reduced to $300 and enrollment fee waived
Other scholarships include:
Women’s Scholarship
Student Scholarship
Professor and Regulator Scholarships
These open before each exam cycle, so check the CFA Institute website regularly. Scholarships can save you ₹70,000–₹1,00,000+, depending on your level.
Avoid Exam Rescheduling Fees
CFA Institute charges $250 (₹20,000) if you reschedule your exam after booking. This is a common but avoidable cost.
Plan ahead and choose your exam window carefully to avoid penalties. Stick to your timeline to stay on track financially and academically.
Use Free CFA Institute Resources
Don’t overspend on third-party materials right away. The CFA Institute provides free resources with every registration:
Full digital curriculum for each level
Practice questions and mock exams
Access to candidate forums and communities
Seek Employer Sponsorship or Reimbursement
If you’re a working professional, ask your employer if they:
Offer CFA sponsorship programs
Reimburse exam fees upon passing
Provide interest-free education loans for upskilling
Conclusion
Embarking on the CFA journey in India involves more than just academic dedication it requires smart financial planning. By understanding the complete CFA fee structure, including registration charges, 18% GST, and optional costs like study materials and coaching, you can approach your exams with a well-prepared budget.
Early registration and applying for CFA scholarships are two of the most effective ways to reduce overall costs. With the right strategy, it’s possible to save up to ₹1 lakh across all three levels.
While the CFA Program fees in India may seem significant, the investment often pays off. Earning the CFA charter can unlock prestigious roles in investment banking, equity research, portfolio management, and financial analysis both in India and globally.
FAQ
Is the CFA Program fee different in India compared to other countries?
No, the CFA Program fees are the same globally in USD. Every candidate whether based in India, the US, or Europe pays:
$350 one-time enrollment fee
$940 (early) or $1,250 (standard) registration fee per level
However, the key difference for Indian candidates is the 18% GST (Goods & Services Tax) applicable at checkout. While most countries do not apply additional local tax, India adds GST on all CFA Institute invoices.
So effectively, CFA exam fees in India are higher than in countries like the US due to the added tax burden. Additionally, INR costs vary with currency exchange rates, so fees can fluctuate for Indian candidates depending on forex trends even though USD prices are fixed by CFA Institute.
Do I need to pay the CFA enrollment fee again for Level II or Level III?
No. The $350 enrollment fee is a one-time fee that you pay when registering for CFA Level I. You do not need to pay it again for Level II or Level III.
Even if there is a gap of several years between exams, your initial enrollment remains valid. You will only need to pay the applicable exam registration fee for Level II or III when you’re ready.
If you’re inactive for many years, it’s best to check CFA Institute policy updates, but in most cases, you can resume without re-paying the enrollment fee.
Is GST included in the CFA exam fees shown on the website?
No, GST is not included in the CFA Institute’s listed fees. The prices shown $940 or $1,250 for exam registration are pre-tax.
Indian candidates will see 18% GST automatically added at checkout based on their billing address.
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