How much bank balance is required for a student visa in Australia?

Australia is one of the most selective destinations for pursuing a higher educational education. The total Cost of Study in Australia is between 11.07 Lakhs to 24.90 Lakhs for a UG degree, with PG master's degrees commanding a little more, between INR 12.18 Lakhs to 27.68 Lakhs, To obtain an Australian student visa, you need to demonstrate a bank balance of at least 15.70 lakhs to cover living expenses, tuition fees, and travel costs. In this blog, we are going to study how much bank balance is required for a student visa in Australia.

Key Considerations:

• Minimum Bank Balance: As of May 10, 2024, international students must show proof of savings of at least AUD 29,710 for Study In Australia visa. 

• Purpose of Funds: This amount is intended to cover your living expenses, tuition fees, and travel costs while studying in Australia. 

• Dependents: If you are applying with a spouse or partner, you need to show an additional AUD 10,394 in financial capacity. 

• Demonstrating Financial Capacity: You can demonstrate financial capacity by providing bank statements, or other financial documents. 

• Other Expenses: You should also plan for other expenses like travel, health insurance and visa fees.

How To Aplly for Study In Australia Student Vis?

1. Get an Unconditional Offer and CAS

• Apply to a Australia university: Find a course and university that suits your needs and apply to them.

• Receive an unconditional offer: Once you receive an unconditional offer, accept it.

• Obtain a CAS: Your university will issue a Confirmation of Acceptance for Studies (CAS) which contains a unique reference number necessary for your visa application. 

2. Gather Required Documents

The documents required for Study In Australia student visa are cited below:

• Valid passport or travel documentation: Ensure your passport is valid for the duration of your stay. 

• Passport-sized photograph: You'll need a passport-sized color photograph. 

• Proof of English language proficiency: You may need to demonstrate your English language skills, depending on your course and the institution. 

• Proof of funds: Show you have enough money to support yourself and pay for your course. 

• Other documents: Depending on your circumstances, you might need additional documents for getting a Australia Student Visa, such as:

1. ATAS certificate

2. Parental consent

3. Tuberculosis test results 

4. Financial sponsor letter

3. Apply Online

• Visit the Australia government's visa website

• Create a AustraliaVI account

• Complete the application

• Pay the visa application fee

• Pay the Immigration Health Surcharge (IHS)

4. Attend a Biometric Appointment

• Book an appointment: You'll need to book an appointment at a Australia Student Visa application center to submit your fingerprints and a photograph (biometric information).

• Attend the appointment: Go to the visa application center and provide your biometric information. 

5. Submit Your Application

• Submit your application: Once you have completed the application and provided your biometric information, submit your application.

• Track your application: You can track the progress of your application online.

• Processing time: The Study In Australia tudent visa process typically takes around 3 weeks to process, but it's best to apply at least 3 months before your course begins.

Conclusion

Australia is a selective destination for education degrees among Indian and international students, By pursuing an MBA in Australia degree, students gain many advantages, such as cultural diversity, career opportunities, and multicultural learning. To apply for a Study in Australia, you need to receive an unconditional offer from a licensed Australia university, obtain CAS, prove your English proficiency, demonstrate sufficient funds, and complete the online application, including biometric information. 

CTA (Call To Action)

Unlock your professional career in the Australia, Get personalized 1:1 counseling to guide your journey to success. Secure your future with expert advice and a world-class education. Start your Study Abroad journey with Education Vibes today!