Ever wondered Why Study In Canada? Do you know the minimum bank balance for Canada Student Visa? Well, there are various reasons to do so!
On the other hand, it is no longer hidden that studying in Canada blesses one with numerous benefits. This becomes the main reason why students from all over the world come to Canada to take advantage of quality education at affordable prices. However, to pursue education in Canada, students are always curious about the minimum bank balance for Canada student visas. Therefore, in this blog, you will get everything you need to know! READ ON!
Sounds good? Make sure to check: MBA In Canada For Indian Students
1. What Is a Canada Student Visa?
Studying abroad is something that every student is dreaming of now. On the other hand, there are countries that are widely known for being an international study hub and Canada is one of them. However, studying in Canada requires students to get a Canadian study visa which is generally followed by a legal procedure. In addition, a Canada study visa is a permit issued by the Canadian Government to study and live in Canada for the duration of a student’s course.
2. Why Canada For Study?
Do you know why a large number of students prefer Canada to study abroad? Because it’s easy to get there in comparison to other countries like the USA or UK. On the other hand, with fewer formalities, one gets quality education at affordable prices. In addition, most Canadian universities have the highest ranking across the globe. Hence, it is always the best deal!
3. How To Get A Canada Student Visa?
To get a Canada student visa, one will be required to follow a proper procedure. Hence, there are many things you will need to do in order to pursue your education in Canada.
- First things first, complete the research part! And shortlist some universities that are providing courses in your interested field.
- Make sure to check the reputation of the university and its reviews before finalizing it.
- Now apply to the shortlisted universities and fulfill the university-specific requirements.
- After the documentation and interview process, students will receive the confirmation of selection.
- Afterward, students will get an application form from their approved school and they will be required to register and pay the fee.
- After fee submission, students need to apply to the embassy and meet all the requirements.
- After fulfilling all the formalities of the embassy, students will be required to crack their visa interview.
4. Eligibility Requirements Of A Canada Student Visa
In order to get a Canada student visa, students will be required to fulfill these eligibility requirements. Hence, you should keep in mind to prepare these documents before applying for a student visa.
| Basic Information | Academic History | Proof Of Funds |
| Valid Passport | Academic Records | Bank Statements |
| Passport-size photos | IELTS Score | Salary Slips |
| Registration letter | ACT, SAT, GMAT, GRE score (if required) | Tax Returns |
| Medical reports | LORs & SOPs | Loan approval letter (if needed) |
| GIC (Guaranteed Investment Certificate) | Work experience proof (if have any) | Scholarship letter (if have any) |
| Admission letter | Provisional Certificates | Assets (bonds, shares, FDs, savings, mutual funds, etc.) |
5. Minimum Bank Balance For Canada Student Visa
The minimum bank balance for a Canada student visa may vary depending on the university and province that one has chosen. On the other hand, it can be drastically changed if any student is taking any family member with them. Hence, there can be huge variations in charges regarding the number of persons going to Canada. But on average, a single student will require a minimum bank balance of CAD$ 10,000 annually or CAD$ 833 monthly.
Also, check: Benefits Of Studying Abroad For Indian Students
Summing up, now you know what is the minimum bank balance for a Canada student visa! So, what are you waiting for? However, for any STUDY ABROAD-related queries, feel free to connect with us! Our team of experts which has extensive expertise in studying abroad would love to assist you.
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Frequently Asked Questions
How much money is required in a bank to study in Canada?
ANS: A single student will require a minimum bank balance of Rs. 6,00,000 annually.
What is the minimum bank account for a Canadian visa?
ANS: Minimum bank balance of CAD$ 10,000 annually is required for Canadian Visa.
What is the minimum amount for proof of funds in Canada?
ANS: One needs to have at least $25,000 in a bank account to show proof of funds in Canada.
How long bank statement is required for a Canada student visa?
ANS: One will be required to show the 4-month bank statement along with the GIC (Guaranteed Investment Certificate).
