The BANKSETA bursary is a financial support programme funded by the Banking Sector Education and Training Authority (BANKSETA) in South Africa. It is aimed at helping students who want to pursue studies in fields related to the banking, finance, and broader financial services sector.
The bursary is designed to support deserving students from disadvantaged backgrounds who show academic potential but cannot afford the costs of higher education. It usually covers expenses such as tuition fees, registration costs, accommodation, prescribed books, meals, and sometimes a stipend to help with living expenses.
BANKSETA focuses on qualifications that are relevant to the banking industry, such as Banking, Economics, Accounting, Risk Management, Financial Management, IT, and Business Studies. The goal is to ensure that the sector has a steady supply of skilled graduates who can contribute to its growth and transformation.
To qualify, applicants normally need to be South African citizens, demonstrate financial need, and show good academic performance. Applications are typically submitted online during the annual bursary application cycle, and supporting documents (such as proof of income, academic records, and ID copies) are required.
The BANKSETA bursary covers qualifications that are closely linked to the banking and financial services sector. Its main aim is to develop skills that are in demand within the industry. Here are the main areas of study it usually funds:
- Banking and Finance – qualifications in Banking, Financial Services, and related fields.
- Accounting and Auditing – studies in Accounting, Auditing, and related financial disciplines.
- Economics – degrees or diplomas in Economics and Development Economics.
- Risk and Compliance – studies in Risk Management, Financial Risk, and Compliance.
- Business and Management – qualifications in Business Management, Business Administration, and related fields.
- Information Technology (IT) – programmes focusing on IT, Computer Science, Data Analytics, Cybersecurity, and other tech areas relevant to banking.
- Human Resources (HR) and Industrial Psychology – because HR skills are important in large banking organisations.
Here’s the information about BANKSETA bursary funding presented in a clear table:
| Type of Funding / Programme | What It Covers | Amount Provided |
|---|---|---|
| UNISA BANKSETA Lesedi Bursary (BCom Financial Accounting Sciences) | Tuition fees (full cover) | 100% covered |
| Laptop allowance | Up to R7,000 | |
| Monthly stipend | R1,500 per month | |
| Monthly data allowance | R500 per month | |
| BANKSETA Discretionary Grant (Workers granted bursaries – new entries) | Bursary per learner | Up to R45,000 |
| BANKSETA Doctoral/Post-doctoral Bursary | Research support (depending on proposal stage) | ± R25,000 – R50,000 per annum |
Here are the steps on how to apply for a BANKSETA bursary, explained in simple paragraphs:
The first step is to research and identify the bursary programme you qualify for. BANKSETA offers different bursaries (for undergraduates, postgraduates, and special programmes like the UNISA Lesedi bursary). You should check the official BANKSETA website or the announcement from the partner institution (such as a university or TVET college).
Once you’ve identified the right bursary, the next step is to complete the bursary application form. Some bursaries are applied for directly on the BANKSETA website, while others (like the UNISA Lesedi bursary) require you to apply through the institution’s bursary portal.
You will then need to prepare and submit all the required supporting documents. These usually include a certified copy of your ID, proof of household income (like payslips, affidavits, or grant receipts), your academic results, proof of registration or acceptance at a recognised institution, and sometimes a motivational letter.
After completing the form and attaching documents, you must submit your application before the deadline. Applications submitted late or without all required documents are not considered. Always double-check that your information is accurate and your documents are clear.
Finally, after submission, your application will go through a selection and evaluation process. If successful, you will receive communication from BANKSETA or the partner institution informing you of your funding approval and the benefits included