How To Apply For RBC Scholarship And Study In Canada 2023

Want to learn how to apply for RBC Scholarship? You’re at the right place. This article features how you can apply for RBC Scholarship and study for free in Canada. Keep reading!

Royal Bank of Canada (RBC) is a Canadian multi-national financial services company and it is the largest bank in Canada by market cap. The bank serves over 16,000,000 clients and has over 86,000 employees all over the world. The financial services was established in 1864 in Halifax, Nova Scotia.

The bank maintains a corporate headquarters in Toronto and its head office in Montreal, Quebec, Canada. RBC’s institution number is 003. RBC is a part of the Financial Stability Board’s list of world systemically important banks.

In Canada, the bank’s commercial and personal banking operations are branded as RBC Banque Royale in French and RBC Royal Bank in English. They serve approximately 10 million clients through its network of 1,209 branches.

The subsidiary of the bank RBC Bank in the United States formerly operates 439 branches across six states in the South-eastern part of U.S., but now they only offer cross border banking services to Canadian travelers and expats. The Royal Bank of Canada also has 127 branches across 17 countries in the Caribbean, which serve more than sixteen million clients.


4 Types Of RBC Scholarships To Apply For

The Royal Bank of Canada acknowledges that it takes a combination of both educational funding and hard work for most students to achieve their goals.

Please review the types of scholarships offered by the bank below to see which scholarship is right for you:

1. The RBC Future Launch Scholarship

The Royal Bank of Canada Future Launch Scholarship is awarded to candidates who demonstrate a clear vision for their future.

  • For Canadian youth between the age of 15-29
  • Registered part-time in school or not in school at all
  • A citizen of Canada or Permanent resident
  • Transcripts and Grades are not required
  • Hundreds of scholarships available all through the years
  • Not working at Royal Bank of Canada (RBC) or a dependent of someone working at the bank

The $1,500 scholarship can be used for a lot of things, including:

  • Short-term courses
  • Workshops
  • Certificates
  • Necessary equipment or books



The RBC Future Launch Scholarship is open for applications until March 31, 2023

2. The RBC Future Launch Scholarship for Indigenous Youth

The RBC Future Launch Scholarship for Indigenous Youth awards over 20 scholarships yearly, valued at about $10,000 each year and is also renewable for up to 4 years, to First Nations, Inuit and Métis students across the country showing strong academic performance and community involvement.

Royal Bank of Canada has been providing scholarships for Indigenous students to complete postsecondary education since 1992. Since then, over $1.8 million dollars has been awarded to 198 Indigenous youth (students) across the nation, pursuing post-secondary education.


  • Students who self-identify as Status Indian, a Non-Status Indian, Métis or Inuit
  • You must be a citizen of Canada or resides in Canada permanently
  • You have applied or are currently enrolled at an accredited post-secondary institution in Canada
  • You maintain a full course load that leads to an acknowledged degree, diploma or certificate
  • You have demonstrated strong potential to successfully complete the post-secondary program
  • You need financial support to pursue your education
  • You are not an employee of the Royal Bank of Canada or a dependent of an RBC employee.

Eligible Institutions


Canadian educational institutions which have acknowledged provincial diploma/degree-granting powers, or their affiliates (e.g. colleges, universities, vocational schools)

Field of Study/Program

  • There are no restrictions on a candidate’s program of study or discipline
  • The program must be a duration of 1 year (minimum)
  • University preparatory programs in any jurisdiction are not qualified to apply


The RBC Future Launch Scholarship for Indigenous Youth application process closed on January 5, 2023.

3. Scholarship Program For RBC Employees Children (Canada)

The Royal Bank of Canada is proud to partner with Universities and Colleges in Canada to offer a post-secondary scholarship program for children and legal wards of their employees.


Scholarships are awarded to up to 50 students annually. It’s a one-time scholarship of $2,500. The scholarship program was designed to help young adults to further their education at the college or university level.

Scholarships are awarded on the basis of a student’s academic record, letters of reference, extracurricular activities and one page essay sharing career aspirations.

For more information on this scholarship, visit RBC official website at or call 6135631236. You can also send an email to

4. The RBC Pathways Diversity Award Program

RBC Capital Markets is dedicated to fostering inclusion and workplace diversity. The RBC Pathways program in Canada have a goal to grow, identify, hire, and retain outstanding undergraduate students who identify as an Indigenous (First Nations, Métis, Inuit) and/or Black person of Canada studying full-time at a Canadian university/college.

Selected applicants will be invited for interviews, and successful candidates will earn a CAD $10,000 financial award, executive sponsorship, and will be made an offer to join the Global Investment Banking or Global Markets Summer Analyst Program in Montreal, Calgary, Vancouver or Toronto.



Enable to read the following eligibility criteria and application instructions carefully before submitting; incomplete applications will not be approved.

  • You are an undergraduate student registered full-time at a Canadian university or college
  • You will roundup with your program between December 2023 and June 2024
  • You self-identify as an Indigenous (First Nations, Métis, Inuit) person and/or a Black person of Canada
  • You have demonstrated a strong academic record, a genuine interest in pursuing a career in finance upon graduation and a varied extracurricular participation
  • You are available to join a full time internship program in Summer, running from May to August 2023
  • You are a citizen of Canada, permanent resident of Canada, or you are legally eligible to work in Canada for any employer up to and including August 2023

Please Note: This opportunity is available to eligible students from all academic programs; STEAM (Science, Technology, Engineering, Arts, and Math) students are advised to apply.

Application Requirements

To submit a complete application, enable to prepare the following 3 items as one PDF file and ensure to submit under the “resume” section of the online application system:

  • Your updated, 1 page PDF resume including your CGPA
  • Your 1 page cover-letter detailing your interest in a career in Global Markets or Investment Banking with RBC Capital Markets
  • Your unofficial or official academic transcripts of any post-secondary semesters completed to date.

Application deadline: February 27, 2023, 11:59pm ET

How To Apply For RBC Scholarship

Applicants are advised to review the type of RBC scholarship they are eligible for, after which eligible candidates should submit their applications before the deadline. Recipients of scholarship are chosen based on their excellence in academics, with a strong emphasis on volunteer and civil engagement.

Selected applicants will be invited to attend a webinar and complete a short-assessment; shortlisted applicants will advance to first round interviews; first round candidates that are selected will advance to final round interviews.

Selected candidates will be given the opportunity to join the 2023 Summer Analyst Program in Global Markets or Investment Banking. The CAD $10,000 financial award will be paid to each successful candidate at the beginning of their summer internship.


The Royal Bank of Canada acknowledges the difficulties citizens face to complete their post-secondary education, which is why they developed a diverse set of scholarship programs worth more than $500,000 annually to help address the critical need for students funding across the country.


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