Student Visa Proof of Funds: UK, Canada, Australia & Germany
Each country sets a different threshold: the UK requires funds held for 28 days, Canada expects CAD 23,448 in living funds, Australia checks living costs, and Germany demands a €11,904 blocked account.
Key facts
- UK student visa fee: £558 (approx. USD 746)
- UK processing time: 3 weeks (15 working days)
- UK 28-day rule: Funds must be held continuously for 28 days before application date
- Canada living funds, single applicant (from 1 Sept 2026): CAD 23,448 plus first-year tuition and travel
- Canada student permit fee: CAD 150 (approx. USD 107)
- Germany blocked account amount: €11,904 per year (€992/month, since September 2024)
- Germany student visa fee: €75 (approx. USD 86)
- Australia Subclass 500 fee: AUD 2,500 (approx. USD 1,780)
Overview
Each country has a different proof-of-funds rule. The UK requires funds held continuously for 28 days; Canada expects CAD 23,448 in living funds for a single applicant (from 1 September 2026) on top of first-year tuition; Australia assesses living costs case by case; and Germany requires a blocked account holding €11,904 per year. Getting any one of these wrong is among the most common reasons student visa applications are refused.
What does 'proof of funds' actually mean for a student visa?
Proof of funds is documentary evidence that you can pay your tuition fees and support yourself during your studies without recourse to public funds or unauthorised work. Each country defines what qualifies — and what does not — and the rules differ significantly across destinations. This guide covers the four countries Indian applicants most frequently target: the United Kingdom, Canada, Australia, and Germany.
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United Kingdom: the 28-day rule explained
The UK Student visa (formerly Tier 4) has one of the most precisely defined maintenance requirements of any English-speaking destination.
How much do you need?
The amount depends on where you will study and how long your course is. As a general guide:
- London: £1,529 per month of the course (up to 9 months; £1,570 for applications on or after 30 November 2026)
- Outside London: £1,171 per month of the course (up to 9 months; £1,203 from 30 November 2026)
- You also need to add one full year of tuition fees if not already paid.
Check the exact figure on the UK government's student visa guidance as amounts are updated periodically.
What is the 28-day rule?
The 28-day rule means the required funds must have been sitting continuously in your (or your parent's/sponsor's) bank account for at least 28 consecutive days before the date you submit your application. The closing balance on day 28 must meet or exceed the required amount on every single day of that period — one dip below the threshold, even briefly, can lead to refusal.
What counts as evidence?
- Official bank statements (printed or PDF) covering the full 28-day window
- Statements must show your name, account number, the institution's logo or stamp, and all daily closing balances
- Online bank statements are acceptable if they are on official bank letterhead
- Loan letters from a recognised financial institution are acceptable if the loan is unconditional
What does not count?
- Overdraft facilities
- Fixed deposits that have not yet matured and are inaccessible
- Funds that have been in the account fewer than 28 days
- Informal family loans without documentation
The UK student visa application fee is £558 (approximately USD 746), and UKVI targets a processing time of 3 weeks (15 working days). See our full United Kingdom visa guide for the complete document checklist.
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Canada: how much must you show, and is a GIC still required?
The Student Direct Stream (SDS), which made a Guaranteed Investment Certificate (GIC) compulsory for Indian applicants, closed on 8 November 2024. Every study permit application from India now runs through the regular stream, and IRCC publishes a fixed living-cost figure for it.
The living-cost requirement
For applications received on or after 1 September 2026, a single applicant outside Quebec must show CAD 23,448 for living costs, on top of first-year tuition and travel to and from Canada (CAD 29,192 for two people, CAD 35,888 for three). Applications filed between 1 January 2025 and 31 August 2026 are assessed against CAD 22,895. The figures are on IRCC's proof of financial support page.
What counts as proof
- A GIC from a participating Canadian bank (CIBC, Scotiabank, BMO and others) for at least the living-cost figure; still the cleanest single document, because the funds are already in Canada
- A receipt for tuition and housing paid to the designated learning institution
- Bank statements for the past six months with the source of every large credit explained
- An education loan sanction letter from an Indian bank or NBFC
- A scholarship letter on letterhead, or a sponsor's letter with their statements, ITRs and identification
Do you also need bank statements?
Yes, unless the GIC and tuition receipt together cover the whole first year. Officers read six months of statements for salary credits and a balance built over time; a lump sum that appeared in the last few weeks is the most common funds problem in refusal letters.
The Canadian study permit fee is CAD 150 plus CAD 85 for biometrics. The route-by-route rules are on the Canada study permit page and in the long-form Canada study permit guide.
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Australia: how does the Department of Home Affairs assess funds?
Australia's student visa (Subclass 500) does not have a single fixed maintenance figure in the same way as the UK or Germany. Instead, the Department of Home Affairs expects you to demonstrate you can meet:
- Tuition fees for the first year of your course
- Living costs for yourself and any accompanying family members
- Return travel costs
Indicative living cost figures
The Department publishes indicative annual amounts. Check the current figures on the DAHA website as they are reviewed regularly. As a benchmark, the government's indicative figure has historically sat around AUD 24,505 per year for the main applicant — confirm the current amount before you apply.
What evidence is accepted?
| Evidence type | Accepted? | Notes |
|---|---|---|
| Bank statements (3–6 months) | Yes | Must be translated if not in English |
| Term deposit / fixed deposit | Yes | Must be accessible or matured |
| Scholarship letter | Yes | Must cover tuition and/or living costs |
| Loan sanction letter | Yes | From a recognised bank |
| Sponsor declaration | Yes | Must include sponsor's own financial proof |
| Credit card limit | Generally no | Not considered liquid evidence |
The Subclass 500 application fee is AUD 2,500 (approximately USD 1,780). Processing times vary; see Australia visa for current estimates.
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Germany: the blocked account (Sperrkonto) requirement
Germany has the clearest and most structured proof-of-funds requirement of the four destinations covered here.
What is a blocked account?
A blocked account (Sperrkonto) is a German bank account — opened with providers such as Fintiba, Expatrio, or Deutsche Bank — into which you deposit a fixed sum before applying for your visa. The account is 'blocked' in the sense that funds are released only in monthly instalments after you arrive in Germany.
How much do you need?
The German Foreign Office (Auswärtiges Amt) sets the amount at €11,904 per year (i.e., €992 per month × 12, the rate since September 2024). This figure is tied to the German Federal Government's general living cost benchmark (Bafög reference amount) and is updated periodically — always verify the current amount on the official Auswärtiges Amt website.
Steps to open a blocked account
- Choose an approved provider (Fintiba, Expatrio, or a German bank with an online international offering).
- Register online and complete identity verification (usually by video call).
- Transfer €11,904 (or the current required amount) from your Indian bank account.
- Receive a blocked account confirmation letter, typically within 3–10 working days.
- Include the letter in your student visa application to the German consulate.
Other financial evidence accepted?
The blocked account is effectively mandatory for most applicants. Alternatives — such as a German sponsor (Verpflichtungserklärung) or a scholarship covering full living costs — exist but are less common for Indian applicants without existing German ties.
The German student national visa fee is €75 (approximately USD 86), with a processing time of approximately 15 working days. Read the full Germany visa guide for supporting document requirements.
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Side-by-side comparison of key requirements
| Country | Minimum funds | Format required | Time rule |
|---|---|---|---|
| United Kingdom | Tuition + £1,171–£1,529/month (up to 9 months) | Bank statements | Held for 28 consecutive days |
| Canada | CAD 23,448 living funds (from 1 Sept 2026) + first-year tuition | GIC, bank statements, loan sanction or tuition receipt | Six months of statements; GIC bought before applying |
| Australia | ~AUD 24,505/year (check current figure) | Bank statements / sponsor letter | Typically 3–6 months history |
| Germany | €11,904/year | Blocked account (Sperrkonto) | Deposited before visa appointment |
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Can a parent or sponsor's funds count?
Yes, in all four countries, sponsor funds are accepted — but with conditions.
- UK: A parent or legal guardian can be the account holder. Their name must appear on all statements and they must provide a signed sponsorship declaration.
- Canada: A parent may provide financial support documents. A GIC, where used, is opened in the student's own name.
- Australia: A sponsor can be a parent, relative, or even an employer. The sponsor must provide their own bank statements and a statutory declaration.
- Germany: A German resident can act as a formal guarantor (Verpflichtungserklärung), but this requires the guarantor to register the obligation with a local authority (Ausländerbehörde).
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Common mistakes that lead to refusal
- Sudden large deposits: A single large transfer shortly before the 28-day window (UK) or before applying (Germany) raises red flags. Officers look for funds that have grown organically.
- Inaccessible funds: Fixed deposits that are locked and cannot be broken are not considered liquid — confirm the maturity date and breakability.
- Currency conversion errors: Always check the exchange rate used. A sum that looks sufficient in INR may fall short once converted at the official rate on the day of assessment.
- Missing bank details on statements: Statements must display the bank's header, your full name, account number, and daily or period closing balances. Screenshots from a banking app often lack sufficient detail.
- Not accounting for dependants: If you are bringing a spouse or children, the required amounts increase substantially in all four destinations.
Use our eligibility checker to confirm which documents apply to your specific situation before you compile your application.
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What should you do next?
- Confirm the exact current threshold on the official government website for your destination.
- Calculate the full amount required, including tuition, living costs, and dependants.
- Start accumulating or consolidating funds at least 60–90 days before you plan to apply — this gives you a comfortable 28-day window plus preparation time.
- Open a GIC (Canada) or blocked account (Germany) as early as possible, since processing can take up to two weeks.
- Gather supporting documents: loan sanction letters, scholarship letters, sponsor declarations as applicable.
- Compare processing times and fees across destinations using our compare tool.
For country-specific document checklists and current processing times, visit the relevant destination page: United Kingdom, Canada, Australia, or Germany.
Questions, answered
What is the 28-day rule for the UK student visa?
The 28-day rule requires that the full amount of maintenance funds must have been held continuously in your (or your sponsor's) bank account for 28 consecutive days before you submit your application. The balance must not dip below the required threshold on any single day during that period.
Is a GIC mandatory for every Canadian student visa applicant?
No. The Student Direct Stream that made a GIC compulsory closed on 8 November 2024. A GIC remains the simplest proof of living funds, but six months of bank statements with sources, an education loan sanction letter, a scholarship letter or a tuition and housing receipt from the institution are all accepted. The amount to show is CAD 23,448 for a single applicant from 1 September 2026, plus first-year tuition and travel.
Can my parents' bank account be used to prove funds for a student visa?
Yes, in all four countries — UK, Canada, Australia, and Germany — a parent or legal guardian can act as a financial sponsor. However, you must provide their bank statements, a sponsorship declaration, and in some cases a formal guarantee document. The funds must be accessible and clearly linked to your application.
How do I open a German blocked account (Sperrkonto)?
You can open a blocked account online through providers such as Fintiba or Expatrio, or through a German bank that accepts international applicants. After identity verification (usually by video call), you transfer €11,208 (or the current required amount) from India. You receive a confirmation letter within approximately 3–10 working days to include in your visa application.
Does Australia have a fixed proof-of-funds amount for Subclass 500?
Australia does not publish a single mandatory fixed figure in the same way as the UK or Germany. The Department of Home Affairs assesses living costs, tuition, and travel costs individually. The government publishes indicative annual living cost figures — check the current amount on the DAHA website before applying, as it is reviewed periodically.
Does a sudden large deposit affect my UK student visa application?
Yes. A large, unexplained deposit immediately before the 28-day window can raise concerns about the genuine source of funds. Case officers look for funds that have been built up naturally over time. If a large transfer is unavoidable, be prepared to provide a clear explanation and source-of-funds evidence such as a property sale deed or loan agreement.
What happens to the money in a German blocked account if my visa is refused?
If your visa is refused, most blocked account providers will return your funds, minus any applicable fees, to the originating bank account. Check the specific refund policy of your chosen provider before opening the account, as terms vary slightly between Fintiba, Expatrio, and other institutions.