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A bank statement is the basic requirement of a visa application either for a student visa or visit visa. Proof of financial strength is the key to a successful visa application for any country.
Almost every country before granting a visa wants to know about your financial strength. Statements determine the financial strength of yours, it is necessary for a study visa and visits visa. Bank Statement is compulsory for everyone.
It is not only demanded in those countries where you are going to pay heavy tuition fees but is also keenly checked in those countries where education is free like Germany, Austria, Norway, etc. When someone applies for a German study visa he has to keep funds in a German bank account which they release after arrival on monthly basis.
Why you need a Bank statement?
This is required by all countries to guarantee that the candidates who are applying for a study visa have enough finances to pay their educational cost as well as they have funds to meet the cost of living during the proposed time to stay in that country. All countries don’t want those international students may become a burden on their public funds.
Factors to determine the amount of statement
There are very important factors which are used to calculate the amount of Bank statement for a visa. All countries have different factors but a few are major and very common which are used by every embassy in Pakistan.
- A tuition fee will be paid to the institute for a minimum of one semester.
- Maintenance cost of living, food, traveling, etc for a limited period. This also depends on the city and country. Different cities have different living and food costs.
- In case you apply for a visit visa, you have to show enough funds available to you for those times you will stay in that country. They usually calculate the living, food, traveling costs for the number of days which you mentioned in the visa form. After verifying your amount of Bank statement for a visa they issue you the visa.
Each country has a different required amount which must be present in your bank account at the time of printing bank statement for a visa. Here is the list of those countries where mostly visa is applied we will tell you the required amount and the time to maintain this account balance.
Bank statement for UK visa
A lot of students and visitors apply for a UK visa. People from Pakistan want to study and want to visit in the UK. UK embassy requires a bank statement for UK visa according to course or stay in the UK. The amount of the bank statement for a visa usually depends on the city where you want to stay.
In case you are applying for a student visa then you have to cover the semester fees of your institute as well as maintenance costs. All this amount must be shown in your bank statement for your visa. For a visit visa, you have to show Rs. 5 to 6 lac in Pakistani Rupees and for a student visa, you have to show funds of almost Rs. 15 to 20 lacs.
This amount must be in your personal bank account for a period of a minimum of 28 days. You can also show a loan letter from the bank in your name of the same amount. The bank statement for visa or loan letter must be on the bank letterhead, signed and stamped by the competent authority of the bank. UK embassy does not accept copies of bank statements for visas they accept in the original copy.
Bank statement for Canadian visa
When you apply for a Canada visit or student visa, you can show the sponsor’s bank statement for a visa or your personal account bank statement for a visa. In case of a visit visa, you have to show the amount in your bank account which is required for the period you want to stay in Canada.
If you are going to apply for a Canadian student visa then you have to show sufficient funds available to you in your bank account. The required amount for the bank statement for a Canadian student visa is Rs. 20 to 30 lac minimum. For a visit visa, you can show Rs. 5 to 10 lac in your personal bank account. To get a visa guarantee you have to show funds in your personal account’s bank statement for a visa.
To lean more about Bank statement for Canada, please visit this post: Bank Statement for Canada | Bank Statement Facility in Lahore and Pakistan
Bank statement for US visa
Students who want to study in the US need a Bank statement for US visa. The amount of Bank statements for a USA student visa usually depends on the university/college fee, the city where you are going to live while you are studying. This amount is different for each university and city. When we talk about the bank statement for the USA visit visa, we find that the required amount is not a fixed amount.
You have to show the amount which is enough for you to stay for a maximum of 6 months. It depends on the educational institution fee and the city where you will live for study. Same the case in visitor visa.
Statement for different visas
For an Australian student visa, a student can show funds in his/her personal bank account or he can present a bank loan letter issued by a bank in his/her favor. The amount of the statement or loan letter depends on the University fee and living cost of that city. In Australia, you need AUD 19,830 per year as living charges along with tuition fees and traveling charges.
To learn more about Bank statement for Australia, visit this post: What is required Bank Statement for Study in Australia
Key Point to consider
The acceptable bank statements must have the following characteristics depending on the required country. Usually following are the common factors.
- the statement must be in the personal name of the applicant.
- It must be a minimum of 3 months at the time of issuance.
- It shows the transactions during this time.
- the statement must have the required end balance.
- the statement should be printed on bank letterhead and duly signed and stamped by the competent bank authorities. It must show the account number and other details.
There are few countries which accept sponsor’s bank statement. In the case of the sponsor, it must be your blood relative. Parents are the legitimate sponsors but other relatives can be sponsors as well.
Bank statement facility in Lahore
Lahore is 2nd big city in Pakistan. It is the capital of Punjab province. In Lahore, there are many investors who are providing facilities to keep your amount in your bank account according to your required time period. This time period can be a minimum of two months and a maximum according to your desire.
Bank statement facility in Islamabad
Islamabad is the capital of Pakistan and another big city. If you are from Islamabad then you can avail of this facility from us.