How Much Bank Balance for F-1 Student Visa

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Hello guys, hope everyone is geting ready for attending F1 Visa interview – preparing for visa interview, student loan, visa documents, CA statement.

If you haven’t checked the previous posts in I-20 Sample with Fees and Living Expenses Break down and other list of questions from students regarding visa and student loan.

In this article, you will know how much bank balance is enough with respect to the amount mentioned in I-20.

During F1 student Visa interview, students are expected to have enough financial resources and proof of financial resource in order to get the visa. Bank Statement, Original Tax Returns, Auditors statement, Affidavit of support are some of the statements to name a few that can be used as the proof of available financial resources that would cover the total expense in U.S. ( Living, tuition fees, ..)

In the previous post I20 Sample and Fees Breakdown the total expense listed in field 7 was $19,600. So, I would show bank balance in this order

1st Year Expense

  • Total = $19,600
  • Savings Account = $20,000 or more. ( preferably $25,000 or more)

2nd Year Expense

You have lots of options to show the proof for 2nd year education expense. To name a few

  1. Fixed Deposit
  2. Student Loan
  3. Combination of Fixed Deposit, Student Loan and Savings Account

Some students show just the Fixed Deposit and use Student Loan as backup amount.

Some students might not have Fixed Deposit covering total 2nd year expenses. They will show the Student Loan as the source for 2nd year expenses.

Agian, for the first year, you can mix and match, but generally its better to show the first year expense in Savings Account or Savings + Fixed Deposit.  If you are showing Fixed DEposit, make sure you get bank statement to say you have  FD in this bank worth this amount and pays this much interest per year in Bank Manager Letter Head.

Visa officer will make sure your parents will be empty handed after they paid for your total education expense. So, they will verify how much they make per year. Original Tax return paper is need to show them as proof. You can show Agriculture income, income from Interest payments, promissory notes are other sources of income.

If they feel, you have fake documents, then things gets really interesting for them, and tough for you when they start to dig in more about the source of funds. When I was interview for Student Visa, the student before me argued for long time and Visa Officer was not convinced about this source of income. Then he said loud ” My parents combined income per year as per original income tax returns is 9 lakhs” he was issued Visa.

So, each case is unique and each students situation is different. If your case is different and have any questions, feel free to write a comment, so it will help other students too. If you enjoyed the post, pass it to your friends. In the next article, you will get to know the answer for one of the readers question

My doubt is will the university people really verify our bank statement …Generally students go for fake ones.  Generally people wont have 22 lakhs in their bank accounts….

My seniors got their bank statements from a broker .He has given them the empty statements which are stamped and sealed ..They have printed the matter and posted them off…. If u further gimme info about this ..and do post an article reg this issue.

Sometimes universities do verify. Here’s more information about bank statement verification by U.S. universities.

 

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