The amount of money you need in your account for a Canada student visa depends on your program of study and the length of your program.
Proof of Funds Requirements:
To obtain a student visa, you must prove you have enough money to cover your tuition fees, living expenses, and other costs associated with your studies in Canada. This is called Proof of Funds.
Minimum Funds Required:
The Canadian government requires you to show you have access to a minimum amount of money. The minimum amount can vary depending on your program of study and the city where you will be studying.
- For a one-year program: You will need to show you have access to at least CAD $10,000 in your bank account.
- For a two-year program: You will need to show you have access to at least CAD $20,000 in your bank account.
- For a longer program: You will need to show you have access to at least CAD $20,000 plus CAD $10,000 per year for each additional year of your program.
Additional Costs to Consider:
- Tuition Fees: This will vary depending on the university and program you choose.
- Living Expenses: This includes the cost of accommodation, food, transportation, and other personal expenses.
- Health Insurance: You will need to purchase health insurance for the duration of your studies.
- Travel Costs: This includes the cost of flights to and from Canada.
Proving Your Funds:
You can prove you have enough funds by providing:
- Bank statements: These should show the balance in your account for the past six months.
- Letter of sponsorship: If you are being sponsored by someone else, you will need a letter from them stating they will provide you with the necessary funds.
- Investment certificates: You can also provide evidence of investments or savings.
Important Note:
- The Canadian government may require you to provide additional documentation to prove your financial situation.
- It is important to start saving early and gather all the necessary documents before you apply for your visa.
