Content Curator | Updated on - Mar 27, 2026

The Bachelor of Science [B.Sc] in Actuarial Science at Ramrao Adik Institute of Technology [RAIT], Navi Mumbai, is a 4-year full-time undergraduate program designed to provide comprehensive knowledge in actuarial science, mathematics, statistics, and financial modeling. The course covers probability theory, life contingencies, financial mathematics, risk management, and insurance principles. With a total fee of INR 20,00,000 for the 4-year program, the program attracts students interested in actuarial careers. The course is offered in on-campus full-time mode and requires 10+2 qualification with PCM/PCB. This program is highly popular among students seeking careers in insurance, pension funds, investment banking, and risk management sectors.

Admission for the 2026-27 academic year is currently ongoing. Candidates interested in B.Sc Actuarial Science admission at RAIT should check the institute's official website for application deadlines and admission schedules. Typically, B.Sc admissions at RAIT are conducted on a rolling basis throughout the year. The admission process is merit-based, considering 12th board examination scores and institute-level entrance test performance. Direct admission is available for qualifying candidates. The academic session usually starts in August 2026.

Official Link:

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Highlights
Fees
Admission
Scholarships
Placements
FAQs

RAIT Latest Updates and News

04 Apr, 2026 RAIT B.Sc Actuarial Science Admission 2026 is open. Apply @dypatil.edu.

04 Apr, 2026 RAIT B.Sc Actuarial Science Fee Structure 2026-27 has been released. The total academic fee is ₹ 20 Lakhs.

RAIT B.Sc Actuarial Science Fees

The fee structure for B.Sc Actuarial Science is transparent and comprehensive. The total fee for the 4-year program is INR 20,00,000, which translates to approximately INR 5,00,000 per year. All fees are refundable as per institute policy. The fee includes tuition, laboratory access, library facilities, and other compulsory charges. Payment can be made on a semester basis, and the institute facilitates fee payment through installments via external banks.

Fee Structure

Fee Component	Year 1 (INR)	Year 2 (INR)	Year 3 (INR)	Year 4 (INR)	Total (INR)
Tuition Fees	500000	500000	500000	500000	2000000
Total Fees	500000	500000	500000	500000	2000000

Payment can be made on a semester basis.
The fee includes tuition, laboratory access, library facilities, college ID, and other compulsory charges for the entire 4-year duration.
No additional hostel fees are mandatory for day scholars.
Candidates from reserved categories may be eligible for government scholarships and fee concessions.

RAIT B.Sc Actuarial Science Admission 2026

Important Dates

Event	Date
Application Window	Rolling basis throughout the year
Merit List Declaration	Expected June-July 2026
Counselling Rounds	Expected July-August 2026
Admission Confirmation	Expected August 2026
Academic Session Start	August 2026

The dates mentioned above are tentative and subject to change.

Eligibility Criteria:

Passed 10+2 (Class XII) examination with Physics, Chemistry, and Mathematics (PCM) or Physics, Chemistry, and Biology (PCB) with a minimum of 50% marks in aggregate
Valid score in institute-level entrance test or merit-based selection based on 12th board examination
Non-resident Indian (NRI) and foreign nationals can apply through separate quota if applicable

Admission Process:

Fill the application form available on RAIT's official website or at the admission office
Submit required documents including 10th and 12th mark sheets, entrance test score (if applicable)
Participate in merit list preparation based on 12th board scores and entrance test performance
Attend counselling session and select preferred course and specialization
Report to the institute with original documents after seat allocation
Complete document verification and fee payment to confirm admission

RAIT B.Sc Actuarial Science Scholarships 2026

RAIT offers merit-based and category-based scholarships to deserving B.Sc Actuarial Science students. Merit scholarships are awarded to top-performing students based on 12th board examination scores and entrance test performance. Category-based scholarships are available for SC, ST, OBC, and EBC students through government schemes. Students from economically backward classes with family income less than INR 8 lakhs annually can avail 50% fee reduction. The college also facilitates external scholarships from government agencies and trusts.

Scholarship Details

Scholarship Type	Amount/Benefit	Eligibility
Merit Scholarship	Varies	Top board scorers and entrance test performers
EBC Scholarship	50% fee reduction	Family income less than INR 8 lakhs annually
Government Post-Matric Scholarship	Varies	SC/ST/OBC students as per government norms
AICTE Pragati Scholarship	Up to INR 50,000 annually	Female students with family income less than INR 8 lakhs
External Scholarships	Varies	As per agency guidelines

Merit scholarships are awarded based on 12th board scores and entrance test performance.
Category-based scholarships are subject to government eligibility criteria and income verification.
External scholarships require separate application and have specific deadlines.
General category students should explore bank loans and EMI options for fee payment.

RAIT B.Sc Actuarial Science Placement 2026

B.Sc Actuarial Science graduates from RAIT have excellent career prospects in the insurance, banking, and financial services sectors. Actuaries are highly sought-after professionals who assess financial risks and uncertainties. Graduates can pursue careers as actuaries, risk analysts, financial analysts, and insurance consultants. The field offers opportunities in life insurance, general insurance, pension funds, investment banking, and consulting firms. Many graduates also pursue professional actuarial certifications from the Institute of Actuaries of India (IAI) to enhance their career prospects. The average salary for actuarial science graduates ranges from INR 4-6 LPA at entry level, with significant growth potential.

Career Prospects

Career Metric	Details
Primary Career Path	Actuarial Science Professional
Industry Sectors	Insurance, Banking, Pension Funds, Investment Banking
Entry Level Salary	INR 4-6 LPA
Professional Certifications	Institute of Actuaries of India (IAI) Exams
Higher Studies	M.Sc Actuarial Science, MBA Finance
Placement Rate	70-80% (estimated)

RAIT B.Sc Actuarial Science FAQs

Ques. What is the scope of B.Sc Actuarial Science in India?

Ans. B.Sc Actuarial Science has excellent scope in India. Actuaries are highly valued professionals in insurance companies, pension funds, investment banks, and consulting firms. The field offers competitive salaries and career growth opportunities. Graduates can also pursue professional certifications from the Institute of Actuaries of India to become qualified actuaries.

Ques. How many actuarial exams do I need to clear to become a qualified actuary?

Ans. To become a qualified actuary in India, you need to clear 15 exams conducted by the Institute of Actuaries of India (IAI). These exams are divided into different levels and can be taken while pursuing your degree or after graduation. Many employers provide study leave and financial support for exam preparation.

Ques. What is the difference between B.Sc Actuarial Science and B.Sc Statistics?

Ans. B.Sc Actuarial Science focuses specifically on actuarial science, financial mathematics, insurance principles, and risk management. B.Sc Statistics is broader and covers general statistical methods and applications. Actuarial Science is more specialized and directly leads to actuarial careers, while Statistics offers diverse career options.

Ques. Can I pursue M.Sc Actuarial Science after B.Sc Actuarial Science from RAIT?

Ans. Yes, RAIT offers M.Sc Actuarial Science program. After completing B.Sc Actuarial Science, you can pursue M.Sc Actuarial Science for advanced specialization. This combination provides comprehensive knowledge and better career prospects in the actuarial field.

Ques. What are the job opportunities after B.Sc Actuarial Science?

Ans. Job opportunities include positions as actuaries, risk analysts, financial analysts, insurance consultants, pension fund managers, and investment analysts. Major employers include insurance companies (Life Insurance Corporation, ICICI Prudential, HDFC Life), banks, pension funds, and consulting firms.

Ques. Is there any internship opportunity during the B.Sc Actuarial Science program?

Ans. Yes, RAIT facilitates internships for B.Sc Actuarial Science students. Students can undertake summer internships with insurance companies, banks, and financial institutions. These internships provide practical experience and help in understanding the actuarial profession better.