How Much Bank Balance is Required for UK Student Visa?
This guidance relates to UK Student Visa Financial Requirements and Bank Balance. Accordingly, covers the details of evidence of UK student visa financial requirements for course fees, maintenance funds and show money for living cost (Boarding and Non-Boarding in London and Outside London), Bank Account, Sponsor, and Loan Letter.
UK Student Visa Financial Requirements 2022
To score 10 points for meeting the financial requirements, the UK student visa applicant needs to show that they have sufficient funds to pay outstanding course fees for the first academic year and can demonstrate maintenance funds to cover their living costs for up to 9 months.
How Much Bank Balance is Required for UK Student Visa?
For Residential Independent School, a UK student visa applicant needs to have sufficient funds to pay outstanding fees (course fees and boarding fees) for one academic year. However, for all other cases, UK student visa applicant need to have sufficient funds to pay any outstanding course fees as stated on the CAS, and £1,334 (if they are Studying in London) or £1,023 (if they are Studying Outside London) for each month of the course (up to a maximum of 9 months).
For instance, if the Tuition Fee is £10,000 for one year and the CAS states that the applicant has already paid £5,000 to the Educational Institution in London then the required bank balance for meeting the UK student visa financial requirements is £17,006 i.e. £5,000 for the remaining amount of the tuition fee and £12,006 for the meeting the 9-months living cost.
However, if the Education Institution is located Outside London, then the required bank balance for meeting the UK student visa financial requirements is £14,207 i.e. £5,000 for the remaining amount of the tuition fee and £9,207 for the meeting the 9-months living cost.
ST 12.4. If the applicant has paid a deposit to the student sponsor for accommodation arranged by the sponsor, this deposit (up to a maximum of £1334) can be offset against the funds required in ST 12.3.
ST 12.5. If the applicant has paid all or part of their course fees to their student sponsor this must be confirmed on the Confirmation of Acceptance for Studies, or the applicant must provide a receipt issued by the student sponsor confirming the amount of fees paid.
28-Day Period Bank Balance for UK Student Visa
To meet the UK student visa financial requirements the applicant needs to show money that they have held the required level of funds for a consecutive 28 day period, unless they are relying on a student loan, an award from a government or international sponsorship agency, or where they are receiving some portion of the funds or other financial sponsorship from their student sponsor (as a bursary, for example). The 28 day period must end no more than 31 days before the application date.
FIN 1.1. Where money is held in one or more foreign currencies, this will be converted into pound sterling (£) using the spot exchange rate which appears on www.oanda.com for the date of the application.
UK Student Visa Show Money – Exemptions
The following applicants will automatically meet the UK student visa financial requirements and be awarded 10 points, if they are applying for permission:
- to stay in the UK, having been in the UK for at least 12 months with valid permission on the date of application
- as a Student Union Sabbatical Officer
- to study on a recognised foundation programme as a postgraduate doctor or dentist in training
Differentiation Arrangements for UK Student Visa Show Money
If an applicant qualifies under the differentiation arrangements, then they are not usually required to provide evidence (of bank balance) for meeting the UK student visa financial requirements. However, applicants should still hold the required level of funds (in a bank account) as UKVI reserve the right to request evidence from such students.
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UK Student Visa Financial Requirements for Course Fees 2022
Applicants applying for a new course from overseas and those who have been in the UK for less than a year must demonstrate that they have enough money to pay the course fees for either:
- one academic year of the course
- the entire course (if it is less than a yearlong)
Differentiated Nationals
Students who are differentiated nationals do not require to show money for UK student visa course fees. Moreover, students who have held valid permission for 12 months or more at the date of application do not require to show money to pay course fees. However, all international students need to pay any course fees to the sponsoring institution.
CAS
The Confirmation of Acceptance for Studies (CAS) states how much course fee a student will pay. The CAS also confirms if there is no fee to pay. However, the immigration office may check for any payment receipts or ambiguities
If the applicant has paid all or part of their course fees, then CAS confirms it. Otherwise, applicant needs to provide a receipt issued by the sponsor confirming the amount of fees paid.
Maintenance Funds for UK Student Visa
For study visa a student needs to show that they have enough money (maintenance funds) to cover their monthly living costs while in the UK. The amount of money an applicant needs to show for UK student visa depends on whether they:
- are a boarding student
- will be studying in London
- will be studying outside London
- are applying under the Doctorate Extension Scheme
If the course includes part of a month, the course duration is rounded up to the next full month. For example, if the student will be studying for a total of 6 months and 25 days, then needs to have maintenance funds for 7 months.
If the applicant has paid a deposit to the student sponsor for accommodation, this deposit (up to a maximum of £1,334) is offset against the required maintenance funds for UK student visa. The CAS will state the amount paid for accommodation to sponsor – only if the student sponsor provides the accommodation. Therefore, payments to third parties are not considered when calculating the amount needed to meet the financial requirements for UK student visa.
Boarding Students
To score 10 points for the financial requirement, an applicant who is boarding at an independent school must show they have enough money to pay for school fees (course and board or lodging fees) for one academic year as stated on the CAS. They will not need to provide evidence of additional funds for living costs if they will be staying in on-site accommodation at the boarding school and where all living costs are accounted for in the board/ lodging fees.
On the CAS the sponsor will show:
- how much money student needs for their course fees and boarding fees
- whether or not the student has paid course and boarding fees
Main Study Site in London
Applicants on the Student route who need to show funds and who are not boarding with their sponsor need to show they have more funds available if they are studying in London. Child Students who are living independently also need to show more funds if they are studying in London.
- In London – Monthly Living Cost Requirements 1,334 per calendar month for up to 9 months (Maximum £1,334×9 = £12,006)
- Outside London – Monthly Living Cost Requirements £1,023 per calendar month for up to 9 months (Maximum £1,023×9 = £9,207)
City of London and Greater London Area
If an applicant will be studying more than half of their course within the City of London or in one of the boroughs listed below, comprising the Greater London Area, they will be required to demonstrate the London financial requirement. Maintenance funds requirements for UK student visa are calculated on where the applicant will study rather than where they will live.
The 32 London boroughs listed below are within the Greater London Area:
- Barking and Dagenham
- Barnet
- Bexley
- Brent
- Bromley
- Camden
- City of Westminster
- Croydon
- Ealing
- Enfield
- Greenwich
- Hackney
- Hammersmith and Fulham
- Haringey
- Harrow
- Havering
- Hillingdon
- Hounslow
- Islington
- Kensington and Chelsea
- Kingston upon Thames
- Lambeth
- Lewisham
- Merton
- Newham
- Redbridge
- Richmond Upon Thames
- Southwark
- Sutton
- Tower Hamlets
- Waltham Forest
- Wandsworth
A UK student visa applicant can check if the educational establishment is in a London borough by entering the postcode into the Royal Mail Postcode Finder.
Evidence
To show money for UK student visa, an applicant needs to provide evidence such as bank statement (account), confirmation of a student loan or official financial sponsorship, or proof of relationship where the applicant is relying on parental funds.
If the applicant is relying on funds from a third party, then they need to provide evidence of relationship with the third party. Please note, if the relationship between the applicant and third party is not clear then the Immigration Office may ask for further information.
Bank Account for UK Student Visa Financial Requirements
For meeting the UK student visa financial requirements, the funds may be held in any form of personal bank or building society account (including current, deposit, savings, pension from which the funds can be withdrawn or investment account) provided the account allows the funds to be accessed immediately. Therefore, funds held in other accounts or financial instruments such as shares, bonds, credit cards, pensions from which the funds cannot be withdrawn immediately, regardless of notice period, will not be accepted as evidence of funds.
For meeting the UK student visa financial requirements, an applicant can reply on a bank account in their name (either alone or as a joint account holder), unless one of the following applies:
- the account is in the name of the applicant’s partner who is applying for entry clearance or permission to stay at the same time or has been granted permission; or
- applicant is applying as a Child Student, or Student, or dependent child, and the account is in the name of their parent, or their legal guardian; or
- applicant is applying as a Child Student and they are being cared for by a close relative, or a private foster care arrangement has been made which complies with the requirements (in Paragraph CS 9.3. to CS 9.5 of Appendix Child Student), and the account is in the name of the applicant’s close relative or private foster carer; or
- the requirements for the route under which the applicant is applying state that an account in the name of a third party may be relied upon and the account is in the name of that third party.
Official Sponsor
For meeting the UK student visa financial requirements, an applicant can use the funds provided by an official financial sponsor, such as Her Majesty’s Government, the applicant’s national government, the British Council or any international organisation, international company, university, or Independent School. However, if an applicant is relying on funds provided by an official financial sponsor, then either Confirmation of Acceptance for Studies (CAS) should mention the provided funds, or the applicant supports the claim by a letter of confirmation from the official financial sponsor.
Student Loan
For meeting the UK student visa financial requirements, an applicant can use the evidence of student loan from a government, or a government sponsored student loan company. Accordingly, student needs to provide a loan letter from the lender which must date no more than 6 months before the date of application; and confirm:
- the loan is a student loan provided to the applicant by either the relevant government or a government sponsored student loan company or an academic or educational loans scheme; and
- there are no conditions on release of the loan funds other than a successful application to study in the UK as a Student or Child Student; and
- the amount of the loan; and
- the loan is to the applicant; and
- funds will be available to the applicant before they travel to the UK; or
- paid directly to the student sponsor before the applicant travels to the UK. And the living cost portion of the loan will be available to student by the time they arrive in the UK; or
- available before the applicant begins their course if the loan is provided by the applicant’s national government.
Moreover, the student loan letter also needs to confirm that the funds are from an academic or educational loans scheme provided by a financial institution regulated for the purpose of issuing student loans such as FCA or PRA.
FAQs
What are the UK Student Visa Financial Requirements?
The UK student visa financial requirements for Residential Independent School are to have sufficient funds to pay outstanding course fees and boarding fees for one academic year. All other students need to have sufficient funds to pay any outstanding course fees and £1,334 or £1,023 if they are Studying in London or Outside London, respectively, for each month of the course up to a maximum of 9 months.
How to show money for UK student visa?
To show money for UK student visa an applicant can use bank statement (account), student loan, or official sponsorship, or proof of relationship if they are relying on parental funds. To show money in bank account for UK study visa, student need to have the required level of funds for a consecutive 28 day period. The 28 day period must end no more than 31 days before the student visa application date.
How much money in bank account for UK student visa?
The amount of money in bank account for student visa depends on the Tuition fees and Advance fee payment in CAS, duration of the course (max one year), and location of Education Institution in the UK. For instance, if the CAS states that the Tuition Fees is £10,000 for one year and the student has already paid £5,000 to the Educational Institution in London then the required bank balance for meeting the UK visa financial requirements is £17,006 i.e. £5,000 for the remaining amount of the tuition fee and £12,006 for the meeting the 9-months living cost in London.
How much Maintenance Funds Required for UK Student Visa?
For Residential Independent School, students required to have maintenance funds to pay boarding fees for one academic year. If a student is studying at a non-Residential Independent School in London, then need to have £1,334 for each month of the course up to a maximum of 9 months i.e. £12,006. However, if a student is studying at a non-Residential Independent School outside London, then need to have £1,023 for each month of the course up to a maximum of 9 months i.e. £9,207.