🇨🇦 Canadian study permit

Canada Student Visa Bank Balance & Proof of Funds

How much money Indian students must show for the Canadian study permit, and how to show it.

Canadian study permit
Funds: First-year tuition plus IRCC's living-cost amount
Interview: Rarely
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Quick answer

Canada student visa bank balance (proof of funds): the short answer

First-year tuition plus IRCC's living-cost amount (CAD 23,448 for a single applicant, for applications from 1 September 2026) plus travel; many students use a GIC. For a typical program that's about CAD 53,448 (≈ ₹36 lakh). A GIC from a Canadian financial institution is one accepted proof, not a requirement — IRCC also accepts bank statements and education loan letters. If a GIC is your proof of living costs, it needs to cover the CAD 23,448.

Ask on WhatsAppUpdated October 2026 · Reviewed by the Visa Edu Loans admissions & finance desk

Official sources: IRCC — Study permit

Canadian study permit at a glance

Visa: Canadian study permit
Fee: CAD 150 study permit fee plus CAD 85 for biometrics
Processing: Check IRCC's processing-time tool — times change weekly
Funds: First-year tuition plus IRCC's living-cost amount (CAD 23,448 for a single applicant, for applications from 1 September 2026) plus travel; many students use a GIC
Interview: Rarely — decisions are usually made on the file
Dependants: Spouses get open work permits only in limited cases (for example master's programs of 16 months or more); check IRCC's current rules

Funds

How much to show

How much to show
Item	Amount
Rule	First-year tuition plus IRCC's living-cost amount (CAD 23,448 for a single applicant, for applications from 1 September 2026) plus travel; many students use a GIC
GIC	A GIC from a Canadian financial institution is one accepted proof, not a requirement — IRCC also accepts bank statements and education loan letters. If a GIC is your proof of living costs, it needs to cover the CAD 23,448.
Example first-year tuition (median on our list)	CAD 30,000
Living costs (12 months)	CAD 23,448
Example total to show	CAD 53,448 ≈ ₹36 lakh

Ways to show funds

Accepted forms of proof

Bank balance

Savings in your or your sponsor's account, with statements.

Education loan

A sanction letter from a bank or NBFC.

Fixed deposits

FDs in the student's or parents' names.

Scholarships

An award letter stating the amount.

FAQs

Frequently asked questions

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CAD 150 study permit fee plus CAD 85 for biometrics

Check IRCC's processing-time tool — times change weekly

First-year tuition plus IRCC's living-cost amount (CAD 23,448 for a single applicant, for applications from 1 September 2026) plus travel; many students use a GIC

Rarely — decisions are usually made on the file

Officer not satisfied you will leave Canada at the end of your stay, Purpose of study unclear or not linked to your background and Insufficient or unexplained funds

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