Minimum Bank Balance Required for US Student Visa – Every year there are thousands of applications being submitted to top-level universities. Further, even after getting selected for any of the universities, the students are not able to get into it due to insufficient funds. This is so disheartening as all the hard work just goes in vague. The other reason for getting rejected due to insufficient funds is not knowing the right way to display your funds in the bank.
Many students are unaware of the I-20 proof of funds which can show more than two sponsors together. There has been a lot of chaos and confusion concerning this area, and some of the students falls prey to this and skip their dream to study abroad in US.
If you are a student confused with the question – “What is the minimum bank balance required for US Student Visa? then you are at the right place. In this blog, we are going to talk about the I-20 financial documents, with the relevant details on how much bank balance is required for US Student Visa.
How Much Bank Balance is Needed for US Visa?
There is no fixed limit or minimum bank balance for US Student Visa, however, you must have 10,000 US or above to get the F-1 Visa.
Who are eligible to Sponsor My Education Abroad?
The F-1 Visa proof of funds can be sponsored by two or more people like:
- Parents: Father or Mother
- Relatives: Your blood relatives can also sponsor your education, the form needs to mention how they are related to them. Relatives like grandparents, maternal or paternal uncles, siblings as well as cousins.
- A mix of both: You can also include both parents and relatives and show the entire one-year cost.
Note: It is good to have sponsors from India and not from the USA, any other country can work.
Financial Documents List of I-20 Visa
You must know that US Universities accept only liquid cash as proof of financial documents I-20. You have to show these funds twice. Below is the financial documents list of the I-20 Visa.
- Bank-attested receipt of Fixed Deposits
- Bank Attested receipt of Saving Banks Statement for F1-Visa
- Provident Fund or Public Provident Fund passbook or bank statement for US Student Visa
- Papers of your Property
In case, if you do not have liquid funds in the above formats, you can have Solvency Letter or a Loan letter. A solvency letter is for those who want to arrange an education loan at the final stage of admission.
What letters do you have to get from the bank?
A sponsor letter is a certificate that your bank provides considering your history and assets which can probably keep on the mortgage to get a loan. This letter state that the sponsor is capable to raise funds from around INR 25 lakhs to INR 30 lakhs for higher education.
Once you have shown all the necessary US Student Visa Bank statement requirements, you can easily get your student visa to study in US.
Do you want to Study Abroad?
At SecureMyScholarship, we focus on making education accessible and affordable for every student. We have qualified academic specialists, who can help you to get admission in your dream university. Assisting students to make their SOP and application strong to get shortlist to the right university. So, let’s start your study abroad journey today!
FAQs for Minimum Funds Required for US Student Visa
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Can I show FD as proof of funds for the I-20 Visa?
Yes, you can show FD or Provident Fund as proof for I-20 Visa.
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How many months’ bank statement is required for the I-20?
6 months, the bank statement must be signed by the bank official; dated within six months of the intended semester of admission.
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Does embassy check bank statements?
Yes, most US embassy verifies the bank statement along with the visa applications.
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How do I attest my bank statement for visa?
You can simply take your bank statement or bank passbook and get it signed by the bank official with the stamp of the institution and signature.
