amirimran95:
The last post is generally correct. It is commonly known that the acceptance rates are more favorable in the early rounds than the later ones.
https://www.sbs.ox.ac.uk/programmes/mbas/oxford-mbaAs you can see, there are 4 rounds. If want to maximize your chances at admission and scholarship money, you should target the first 2 rounds. The third round (what is usually considered round 2 in the US) is actually very popular as well. The fourth round is where you will find tremendous difficulty. Unless you are in a dire situation and/or come from a very unique background, you are often better off applying in the earlier rounds in the next season rather than the last round in that season. There are just too few seats left.
Hope that helps,
Admissionado