Study Banking in Canada – Eligibility, Fees & Process For Indian Students

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Banking and finance courses are always in demand by students all over the world. No matter the type of industry you want to work in, there is always cash involved, and hence banking becomes an integral part of every industry. It is this versatility that allows graduates of banking courses to choose a path in a wide range of fields, which is just one advantage of choosing banking as a career. 

If you’re someone who wants to do a banking course and know the complete details of pursuing it in Canada, keep reading.

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Why Should You Study Banking Courses in Canada? 

Before we dive into the details of banking courses, let’s first look at why you should study banking in Canada and its benefits.

Versatile Career Opportunities 

As mentioned earlier, banking opens the door to careers in different industries. So even if you’re not sure about the field to work in, a banking course will help you gain all the practical skills to function in any industry rather than just focus on theoretical knowledge. A banking course in Canada lets you work in a wide range of designations.

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Study Banking in Canada - Eligibility, Fees & Process For Indian Students

Gain Global Skills

The banking courses in Canada aim to give students a unique set of professional skills. You are prepped to work in countries other than Canada after receiving your graduate certificates, such as Australia, the UK, the USA, Europe, Germany, or even India. These courses impart high-quality knowledge and skills to work in those countries.

What Are The Different Types of Banking Courses in Canada?

Banking being a wide field allows you to choose from a range of courses. The banking courses in Canada are both general and specific. Some banking courses allow the students to pursue a general study of the whole banking industry so that they gain an overview of all the different sectors. Other courses are more specific and involve studying a particular sector in detail. Some of these sectors include Personal Banking, Financial Planning, Personal financial services, Small Business Banking, Investing, Business management fundamentals (BMF), Banking for hospitality management, etc. 

What Colleges Offer Banking Courses in Canada?

When it comes to banking courses in Canada, there are several universities that offer them. Although the number of universities and colleges that offer banking in Canada are far less in number than in the United States, there is no compromise in the quality of the education offered.

Let’s look at some of the best banking courses in Canada now.

Centennial College – The Business School

Located in Toronto, this college is a hotspot for international students from all over the world. The college offers a two-year diploma certificate program in Financial Services. Along with gaining in-depth knowledge of the industry, you will also get certifications in other key areas such as Canadian Securities Course (CSC), life insurance (LLQP), mutual funds (IFIC), retirement planning (RPC), etc. If you take up this course, you will be able to work in designations such as personal banking representative, analyst, financial planner and investment advisor.

The tuition fee for international students is around 17,000 CAD for 2 semesters. 

One of the exciting factors of studying at Centennial College is that you can opt to level up your diploma to a degree level by studying with one of the partner institutions such as Algoma University, Athabasca University, Davenport University, etc., offering courses in Business Administration.

University of Toronto – Rotman School Of Management

The Rotman School of Management offers Masters in Business Administration in different majors. MBA applicants can choose Banking Investment among other specialisations. Graduates of this course can take up jobs as investment bankers, private equity professionals, consultants, etc. The tuition fee is around 42,000 CAD per year.

Northern Alberta Institute of Technology 

This institution offers a 2-year bachelor’s degree in Banking and Finance. The tuition fee is about 13,500 CAD. The institute also offers a one-year certificate course in Applied Finance. So if you are not sure of doing a full 2-year degree, you can opt for a one-year course. You can also choose to study part-time or full-time

These are just some of the universities that offer banking courses in Canada. There are many other courses aimed at specialisations in the different areas of the financial market, such as banking in customer service, risk management, project management in banking, etc. 

Now let’s look at some of the qualifications required to study banking courses in Canada.

Eligibility Requirements and Qualifications for Studying Banking Courses in Canada

The following are some of the general qualifications required to be accepted into banking courses in Canada: 

  • For Bachelor’s degree: Ontario Secondary School Diploma or an equivalent high school diploma from a recognised secondary school.
  • For Master’s degree: A Bachelor’s degree in a course with subjects such as mathematics, finance, business, computer science, etc.
  • Evidence of skill in mathematics. (Mathematics in high school or Bachelor’s degree).
  • Proficiency in Microsoft Excel, Word, etc., may be an optional set of skills required for some courses.
  • English language proficiency: Foreign exchange and international students need to show proof of proficiency in English. The following are the accepted general scores for the different tests for English proficiency:

    TOEFL Score: minimum 550

    IELTS Score: 6.0 with no band score less than 5.5

    Pearson Test of English (PTE) Score: 51+

Process To Get Accepted For Banking Courses in Canada

  • The process first begins with applying for the course. Visit the website of the university you want to apply to and fill in the online application completely. Make sure that you meet the eligibility requirements for the course and have the relevant documents ready.
  • Once your application has been reviewed, you will receive a conditional offer letter if the university finds you eligible for the course.
  • Keep your documents ready and submit them when required. 
  • Once all the documents have been submitted, you might be called for an interview, where the final selection will happen.
  • You will then receive an email if you get selected for the program.
  • You can choose to apply for scholarships and funding to help you with your tuition fee after your acceptance into the program.

Conclusion

Banking courses in Canada are definitely an exciting option to pursue, especially if you love a challenging career with great advancement options. With the growing banking sectors, there isn’t going to be a lack of opportunities. So, make sure to use all the information in this guide to kickstart your journey in the banking industry.

With that said, we certainly understand that Canada is a huge country, and it can quickly get overwhelming for students to find the best course. At LeapScholar, our experienced counsellors will guide you through every step — from choosing your institution to getting your visa! Reach out to us for assistance today.

Frequently Asked Questions

Can you study banking courses in Canada without mathematics?

Most universities in Canada require evidence of knowledge in mathematics. This does not mean that the candidate requires a diploma, graduate diploma, bachelor’s and master’s degree in mathematics. A pass in mathematics during the 10th or 12th standard is usually enough. If you did not take up mathematics during high school, you could take up a maths test to show evidence of mathematical knowledge. This is the case for most colleges, but some banking courses may not need maths as a mandatory requirement. So make sure to check the eligibility requirements for the course before you apply for it.

Can I shift my major in banking after I begin the course?

Some banking courses are very specific when you apply for them. You can change the specialisation once you begin the course. There are some general courses like financial services, business management, etc., that allow students to choose their specialisation after 2 semesters. So, make sure you check the course details thoroughly before you apply.

Can art students study banking courses in Canada?

Graduates of arts degree can study masters in banking in Canada provided that all the eligibility requirements are met.


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Saket Kohli

An International Higher Ed professional with 7+ years of experience studying, working, and living across three geographies, currently on a mission to share his journey as an International Student.

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