Financial documentation is a requirement of universities in the United Kingdom to demonstrate that a student who is applying for a study visa can afford to cover the cost of their education, housing, and other daily expenses. The most frequent cause of student visa refusal is financial records not fulfilling UK Visas and Immigration criteria. Let us know about ‘How much bank balance is required for a UK student visa?’
How much bank balance is required for a UK student visa?
Students applying for study visas in the United Kingdom universities have to show that they can support themselves during their time in the UK. The amount of money required depends on the route they are applying, school, area, and personal circumstances. Students require £1,334 per month and £1,023 per month for courses inside and outside of London respectively and living expenses of £1,023 per month for a maximum of nine months.
Bank balance for studying in the UK:
There are different financial requirement levels. The money needed by the visa applicants depends on them.
- A UK visa applicant applying for a residential independent school must have enough money to cover all his course and boarding fees for one academic year.
- The students applying through the doctorate extension scheme can only be benefited from an established presence. They need to show £2,668 for studying in London and £2,046 for studying outside London.
- Applicants for a UK student visa for all other courses must have enough money to cover any outstanding tuition for up to nine months maximum.
- If the applicant is taking admission to London schools, then his tuition fees will be shown on the confirmation of acceptance for studies (CAS) as well as £1,334 per month of the course. If the tuition fee of an educational institution in London is £10,000 for a year and the CAS indicates that the applicant has already paid £5,000. Then a student’s required bank balance to satisfy the financial requirements for a UK student visa is £17,006 this includes £5,000 for the remaining tuition fee and £12,006 for the cost of living for nine months.
- If the student is applying for schools outside London, then he or she needs a fee on CAS and £1,023 for each course month.
- Students in London must also give proof of cash totaling £845 for each month of their stay. If they are pursuing studies outside of London, £680 for each month of your leave. They require money equal to the cost totaling nine months.
- If students are pursuing a course length of fewer than nine months, they require £1015 per month.
- The Applicant who has already paid the tuition fee mentioned on confirmation for acceptance for studies just needs a maintenance fee for visa application.
- Child students boarding at a residential independent school must have sufficient balance to pay their course fees and boarding fees for the first academic year.
- If the child student is living with a close relative who is a UK resident, then he must have enough money to pay the course fee and the carer should have £570 per month.
- If the student is between 16 and 17 years old and living independently, he must have money to pay a fee for one academic year. Additionally, £1,334 and £1,023 per month for pursuing study inside and outside of London respectively.
- The applicant or the account owner whose money the applicant is depending on must be in charge of the funds.
- Applicant must demonstrate that the money has been retained for at least 28 days except for a few exceptions like using a student loan, an award from the government, official financial sponsorship, and other kinds of funds.
- Students who are allowed to bring their dependents must have extra money to show to support their dependents.
- The submitted bank statement must be from 31 days before the application deadline.
Determinants of the required money for a UK study visa:
- The length and the course students are pursuing.
- Type of student permission.
- The area in which the student is studying.
- Paid accommodation fee.
- Living arrangements in the case of adults.
- Alone or with dependents.
- The country the applicant belongs to. Students from countries like Australia, Bahrain, Belgium, Finland, and others do not need to show evidence of the financial requirement. The complete list of countries’ residents that do not need evidence for the financial requirement is available on the internet.
Conclusion:
Applicants, interested in pursuing study in the United Kingdom must fulfill the financial requirement criteria. A UK resident for at least a year does not need to gather any financial documentation on applying for or extending a student visa in the UK. The students have sufficient balance to pay tuition and maintenance fees for at least one year. The amount of money needed depends on the course and its length. Before visiting UK Visa and Immigration, pay the tuition fee minimum of five days before the appointment.
Frequently asked questions:
- What proofs of financial requirements are not accepted for the UK study visa application?
The UKVI does not accept bitcoin savings, overdrafts, banks without electronic record keeping, pensions, and others.
- What type of information is written on confirmation of acceptance for studies (CAS)?
The CAS is a record produced by the university for the Home Office. It contains information like the student’s CAS number, his qualifications, the name on his passport, course fee, a paid fee, and more.
