Something really important is coming up! Yes, we are talking about proof of funds here. This is the backbone of your visa application.
Lack of proof of funds is definitely going to hamper your chance of visa approval. So here is a Country-by-country overview of the proof of funds requirements for international students.
Country-wise Proof of Funds Requirement
Proof of Funds Requirement For The United Kingdom (UK)
Cost of Living in the United Kingdom:
- £1,529 per month (for up to 9 months) for courses in London
- £1,171 per month (for up to 9 months) for courses outside London
Proof Of Funds for UK:
Bank Funds:
- Your own bank statements
- Your parents’ bank account (with letter of consent)
- Joint bank account (if you are named on it)
Acceptable bank-related evidence:
- Bank statements (paper or electronic)
- Bank passbooks showing daily balances
- A bank letter confirming funds have been at or above the required level for 28 days
- All the documents should be verified by the Bank Manager (Stamped and Stamping date should be mentioned)
- Student Loan or Scholarship/Sponsorship:
- An official student loan letter from a recognised Bank
- A sponsorship letter (government, university, scholarship body)
Important Rules about the Proof of Funds:
Your funds (bank balance or loan/sponsor evidence) must have been in your account for 28 consecutive days, and the end of this period must be within 31 days before your visa application.
Acceptable Funds:
Cash funds in bank accounts
Certificates of deposit (with conditions) (e.g., Fixed Deposits)
Loan sanction letters from recognised lenders
Proof of Funds Requirement For Germany
In the German blocked account, there must be €11,904 when you are applying for a student visa. This will make sure you have enough money to cover your monthly expenses. There will also be a withdrawal limit of €992.
Proof Of Funds For Germany:
You would need to show a Blocked Account (Sperrkonto) and deposit a set amount into it.
What Is a Blocked Account (Sperrkonto)?
A blocked account is a special German bank account where you deposit your required funds before applying for a visa.
- There will be a set withdrawal limit.
- After you arrive in Germany, you can typically withdraw a fixed monthly amount (about €992/month) to cover living costs.
- This account must be with an embassy-approved bank or provider (e.g., Deutsche Bank, Fintiba, Expatrio). You will receive a confirmation letter for the blocked account, which is submitted with your visa application.
Proof of Funds Requirement For Canada
Cost of Living in Canada:
- 1 person (student only): CAD 22,895
- Each additional family member: + CAD 6,170 each
You must prove you have enough funds to cover:
- Tuition fees for the first year (or more, if required)
- Living expenses for yourself (and any dependents)
- Return transportation (travel to and from Canada.
Acceptable Proof of Funds:
- Bank statements (your account or sponsor’s account)
- Proof of payment(tuition & housing both)
- Guaranteed Investment Certificate (GIC) from a Canadian bank
- Proof of an education loan from a recognised financial institution
- Bank drafts that can be converted to Canadian dollars
- Scholarship or sponsorship letters with clear amounts
- Letter from someone supporting you financially (with their bank evidence)
Proof of Funds Requirement For Australia
Cost of Living in Australia:
To study in Australia, you need to show funds to ensure the following:
- Living Expenses: AUD 29,710 per year (Single Student)
- 1 year Tuition Fees: AUD 20,000 – AUD 40,000 per year (as per the offer letter)
- Travel Cost: Approx AUD 2000 – AUD 2500
- Total Approx – AUD 50,000 – AUD 70,000 (Living Expense + Tuition Fees + Travel)
Acceptable Proof of Funds for Australia:
1. Bank Statements:
- Savings or fixed deposit statements for the last 3–6 months showing sufficient balance.
- Statements should be in your name or your sponsor’s name.
2. Education Loan Documents:
- Loan sanction letters/approval from a recognised bank or financial institution.
- These must clearly cover tuition and living costs.
3. Sponsor Documents:
If a sponsor (e.g., parent) supports you, you may also include:
- Sponsor’s bank statements and proof of relationship
- Sponsor’s income proofs or employment letters
- Sponsor’s affidavit of support.
- Scholarships or Financial Awards:
- Official award letters from the institution or government showing the amount and duration of funding.
Proof of Funds Requirement For the United States of America (USA)
The living expenses are directly proportional to your lifestyle and the city you will be living in
- In the Low-cost areas, the expenses will be $14,000 – $18,000
- In Mid-range cities, the expenses will be $18,000 – $25,000
- In High-cost cities, the cost ranges $25,000 – $40,000
On the I-20 form, yearly living expenses are written as $18,000–$45,000.
Acceptable Proof of Funds For The USA:
- Bank-Related Documents
- Bank statements (personal or sponsor’s) showing liquid funds.
- Bank letter confirming account balance.
- Other Financial Evidence
- Affidavit of support from a sponsor (parent, relative).
- Educational loan approval letter from a bank/financial institution.
- Scholarship award letters or assistantship/fellowship letters.
- Government sponsorship or funding letter (if applicable).
Final Thought
In a nutshell, the documents you need to show must be authentic. If you have followed the honest path while collecting proof of funds, there is a high chance of visa approval.
You may book a counselling session with Delta Edu Group(Delta Immigration) Counsellor & get all the queries related to your documents resolved.
