Federal Bank Scholarship 2023: Selection Process, Amount, Eligibility, Last Date to Apply

If you are looking for a scholarship to pursue professional courses in India, then you might consider applying for a Federal Bank Scholarship. It’s a prestigious scholarship scheme offered by the Federal Bank Hormis Memorial Foundation, aiming to support meritorious and needy students who are studying in government, aided, or government-recognised self-financing colleges.

This blog will tell you everything you need to know about the Federal Bank Scholarship 2023, such as the selection process, amount, eligibility, and last date to apply. Read on to find out more!

Full name	Federal Bank Hormis Memorial Foundation Scholarship 2023
Purpose	To provide financial assistance to meritorious students pursuing professional courses in government/aided/government-recognised self-financing colleges
Selection process	Based on merit and financial need
Amount/Benefits	Reimbursement of 100% tuition fees and other educational expenses up to Rs. 1 lakh per year One personal computer/laptop worth Rs. 40,000 during the course of study
Eligibility criteria	Secured admission under merit in the academic year 2022-23 Annual family income less than INR 3 Lakhs
Application Deadline	December 31, 2022
Eligible Courses	MBBS, Engineering, BSc Nursing, BSc Agriculture, MBA
Eligible States	Gujarat, Karnataka, Kerala, Maharashtra, Punjab, Tamil Nadu
Application Mode	Online

Also Read: List of Scholarship for Polytechnic/Diploma Students in 2023-24

Federal Bank Scholarship: Overview

Started by the Federal Bank, the Federal Bank Scholarship is an initiative to financially support first-year graduation students in pursuing professional courses of their choice. The scholarship covers meritorious students from the states of Punjab, Maharashtra, Kerala, Gujarat, Karnataka, and Tamil Nadu, with their full tuition and other fees paid as per the fee structure after the college fee receipts are submitted.

Federal Bank Scholarship: Selection Process

The Federal Bank scholarship is open to students who have secured admission under merit in government/aided/government-recognised self-financing colleges during the academic year 2022-23. The selection process for Federal Bank Scholarship 2023 includes the following steps:

• Scrutiny of the application form
• Preparation of the selected candidate’s list
• Document verification of the candidates
• Email notification of the finally selected candidates

How to Apply for Federal Bank Scholarship?

Here’s how you can apply for the Federal Bank scholarship:

1. Visit the official website of Federal Bank and click on the “Scholarships” tab under the “Corporate Social Responsibility” section
2. Read the instructions and eligibility criteria carefully and click on the “Apply Online” button at the bottom of the page
3. Fill in the online application form with your personal, academic, and bank details. You will also need to upload scanned copies of your relevant documents.
4. Review your application and submit it before the deadline
5. Wait for the scrutiny of your application and the preparation of the selected candidate’s list by the Federal Bank Hormis Memorial Foundation
6. If you are shortlisted, you will be notified by email and asked to verify your documents at the nearest Federal Bank branch
7. If you are finally selected, you will receive the scholarship amount and a laptop in your bank account

Also Read: How Much Percentage is Required for Scholarships In India?

Federal Bank Scholarship Amount

The Federal Bank scholarship covers the full amount of tuition fees and other fees that the eligible applicants have to pay as per the college fee structure (up to a maximum of INR 1 lakh per year). The selected students also get one Personal Computer (PC)/Laptop (up to INR 40,000) during their course of study (within the overall limit of INR 1 lakh per year).

Eligibility Criteria

To be considered eligible for the Federal Bank scholarship, the applicant must fulfil the following criteria:

1. The applicant should be an Indian citizen
2. The applicant should have obtained admission based on merit in any of the following courses in a college that is aided/government-recognised/government self-financing in the academic year 2022-23: MBBS, Engineering, BSc Nursing, BSc Agriculture, MBA
3. The applicant’s annual family income should be below Rs. 3 Lakhs. However, children of martyred armed forces personnel are exempted from the income criteria
4. The applicant should not be availing of any other scholarship or financial assistance from any other source

Documents Required

Applicants for the Federal Bank scholarship need to have the following documents ready to apply for the scholarship:

1. Passport-size photograph of the applicant
2. Copy of the mark sheet of the qualifying examination (10th/12th/Graduation)
3. Copy of the admission letter from the college/institution
4. Copy of the fee structure and fee receipt from the college/institution
5. Copy of the income certificate issued by a competent authority
6. Copy of the bank passbook or account statement of the applicant or parent/guardian
7. Copy of the death certificate of the armed forces personnel (if applicable)

Also Read: What is the Age Limit for Scholarships in India?

Last Date to Apply

The deadline to apply for the Federal Bank Scholarship for the year 2022-23 was 31 December 2022. However, the application for this scholarship for the year 2023-24 will open again around October 2023. You can visit the Federal Bank’s official website to stay updated on any new notifications regarding the scholarship.

FAQs

We hope that this blog was helpful in providing you with all the information related to the Federal Bank scholarship, including its selection and application process, the amount and benefits offered, its eligibility criteria and the documents required. To discover more scholarships to study in India, stay tuned to Leverage Edu. Thank you for reading!