# How Much Bank Balance for a Canada Student Visa? Indian Applicants > IRCC's 2026 proof-of-funds table for study permit applicants from India: CAN$23,448 for one person, higher amounts for families, what is not included, and which proofs IRCC accepts. _Published: 2026-10-27 · Reading time: 5 min · Words: 1099_ ## TL;DR For study permit applications made on or after 1 September 2026, IRCC requires proof of at least CAN$23,448 for one person's living costs outside Quebec, on top of first-year tuition and return transportation. The minimum rises with each family member, and IRCC accepts a GIC, an education loan, a scholarship, paid fee receipts or six months of bank statements showing the source of funds. ## Key takeaways - Living-cost minimum for one applicant outside Quebec: CAN$23,448 for applications on or after 1 September 2026 (previously CAN$22,895). - The living-cost amount excludes tuition and travel; you must also show first-year tuition and return transportation. - Two people need CAN$29,192; each family member beyond seven adds CAN$6,318. - Accepted proofs include a GIC, a Canadian bank account, 6 months of bank statements showing the source of funds, an education loan, a scholarship and paid tuition or housing receipts. - Study permit fee CAN$150 plus biometrics CAN$85; processing for applications from India is 7 weeks (IRCC data, October 14, 2026). **For a Canada study permit applied for on or after 1 September 2026, IRCC requires proof of at least CAN$23,448 for one person's living costs outside Quebec, plus your first-year tuition and return travel. The amount rises with family size, and IRCC accepts a GIC, an education loan, a scholarship or six months of bank statements.** ## Article The amounts below are Immigration, Refugees and Citizenship Canada's own figures, as published on the official sources, checked on 2026-10-15. Visitor visas, fees and VFS centres are covered in our Canada visa guide for Indians. ### How much bank balance do you need in 2026? IRCC's proof-of-financial-support page sets a minimum for living costs by the number of people in your application. These figures are for study outside Quebec: People applying (you plus accompanying family)Minimum living funds for one year1CAN$23,4482CAN$29,1923CAN$35,8884CAN$43,5725CAN$49,4196CAN$55,7367CAN$62,054Each additional family memberCAN$6,318These amounts apply to applications made on or after 1 September 2026. For applications made from 1 January 2025 to 31 August 2026, the single-applicant figure was CAN$22,895. If you saved against the old number, top up before you submit. ### Does the CAN$23,448 include tuition? No. IRCC's living-cost minimum excludes tuition and travel. Your proof of funds has to cover three separate items: - Tuition for your first year, as shown on your letter of acceptance from a designated learning institution (DLI). - Living costs of at least the amount in the table. - Return transportation. So for a single student, the balance you need to document is your first-year tuition plus CAN$23,448 plus a return fare. If your program runs longer than a year, IRCC also expects you to explain how you will pay for the full duration. Your funds evidence sits alongside the other core documents: the letter of acceptance, a PAL/TAL in most cases, and a police certificate or medical exam if required. Master's and doctoral degree-granting programs at public DLIs no longer need a PAL/TAL since 1 January 2026. A PAL/TAL must be valid when you apply; 2026 letters are valid until December 31, 2026 unless they show an earlier date, and you need a new one if you change schools. ### What counts as proof of funds? IRCC lists several types of evidence, and you can combine them: - A guaranteed investment certificate (GIC) from a Canadian financial institution. - A Canadian bank account in your name. - Bank statements for the past 6 months showing the source of the funds. - An education loan. - A scholarship. - Receipts for first-year tuition or housing already paid. - A letter and proof of funds from a sponsor. A receipt for tuition you have already paid counts as proof for that part of the requirement. Many students pay part of the fee early anyway, because the provincial attestation letter (PAL/TAL) is usually issued after you accept the offer and pay part or all of the tuition. ### What should your Indian bank statements show? IRCC's wording is specific: statements for the past 6 months showing the source of funds. Two practical consequences follow for applicants in India: - History, not just a balance. A single recent balance certificate does not show six months of movement. Submit the full statements. - Traceable money. If a large amount arrived recently, include the document that explains it, such as the loan sanction or the sponsor's proof of funds. If your parents are paying, include their letter and proof of their funds as your sponsor. IRCC also says you must satisfy an officer that you will leave Canada when your permit expires, so the financial file works alongside the rest of your application. ### Which other costs should you budget alongside the balance? ItemAmountPaid toStudy permit feeCAN$150IRCC, onlineBiometrics (per person)CAN$85IRCC, onlineBiometrics (family of 2 or more, maximum)CAN$170IRCC, onlineTwo-way courier (optional)INR 1,716VFS Global, at the VACPackage transmission (optional)INR 604VFS Global, at the VACThe VFS charges took effect on 1 May 2026. VFS India has announced new charges from 1 November 2026, but the new amounts had not been published as of 15 October 2026. IRCC fees are in CAD only; there is no official INR figure for them. You give biometrics at one of the ten Visa Application Centres in India run by VFS Global: Ahmedabad, Bengaluru, Chandigarh, Chennai, Hyderabad, Jalandhar, Kolkata, Mumbai, New Delhi or Pune. Booking that appointment is free, and since 24 February 2026 you must upload your IRCC Biometric Instruction Letter to book it. ### How strict is IRCC on study permits? IRCC's committee note of April 30, 2026 gives a 59% refusal rate for new study permit applications in January-December 2025, for all nationalities (52% in 2024). IRCC does not publish an India-only figure on that page. The rate covers every refusal reason, not just money, and it describes past decisions rather than your chances. For the start of 2026 (calendar year to February 28), the same IRCC source reports a 38% approval rate for study permits, again across all nationalities. Processing time for study permits applied for from India is 7 weeks (IRCC data, last updated October 14, 2026). ### Mistakes that weaken the financial part of your file - Using the old CAN$22,895 figure for an application made after 1 September 2026. - Counting tuition inside the CAN$23,448 living-cost amount. - Forgetting accompanying family: two people need CAN$29,192, not CAN$23,448. - Submitting a balance without six months of statement history. - Assuming Quebec uses this table. Quebec students get a CAQ instead of a PAL, and the table above is for study outside Quebec, so check Quebec's own requirement. Students rarely need travel bookings for the study permit itself. When parents later apply to visit, Yatra For Fun's India office in Gurugram prepares flight reservations, hotel bookings, itineraries and cover letters for visa files, with packages from INR 1,000 to INR 3,000. WhatsApp +91 95230 91018 or reach our team. ### Frequently asked questions #### Is a GIC mandatory for a Canada student visa from India? No. IRCC lists a GIC from a Canadian financial institution as one accepted proof of funds. A Canadian bank account, six months of bank statements, an education loan, a scholarship or paid fee receipts are also accepted. #### Can an education loan from an Indian bank count as proof of funds? IRCC lists an education loan among accepted proofs of financial support. Include the loan documents along with your other evidence so the source of funds is clear. #### How much does a student need to show if a spouse comes too? For two people, IRCC's living-cost minimum outside Quebec is CAN$29,192 for applications on or after 1 September 2026. First-year tuition and return transportation come on top. #### How long does a Canada study permit take from India? IRCC's processing-times data, last updated October 14, 2026, show 7 weeks for study permits applied for from India outside Canada. Applications needing more information take longer. ## FAQ ### Is a GIC mandatory for a Canada student visa from India? No. IRCC lists a GIC from a Canadian financial institution as one accepted proof of funds. A Canadian bank account, six months of bank statements, an education loan, a scholarship or paid fee receipts are also accepted. ### Can an education loan from an Indian bank count as proof of funds? IRCC lists an education loan among accepted proofs of financial support. Include the loan documents along with your other evidence so the source of funds is clear. ### How much does a student need to show if a spouse comes too? For two people, IRCC's living-cost minimum outside Quebec is CAN$29,192 for applications on or after 1 September 2026. First-year tuition and return transportation come on top. ### How long does a Canada study permit take from India? IRCC's processing-times data, last updated October 14, 2026, show 7 weeks for study permits applied for from India outside Canada. Applications needing more information take longer. ## Sources 1. [IRCC - Study permit: Proof of financial support](https://www.canada.ca/en/immigration-refugees-citizenship/services/study-canada/study-permit/get-documents/financial-support.html) — Immigration, Refugees and Citizenship Canada (IRCC) 2. [IRCC - Provincial or territorial attestation letter (PAL/TAL)](https://www.canada.ca/en/immigration-refugees-citizenship/services/study-canada/study-permit/get-documents/provincial-attestation-letter.html) — Immigration, Refugees and Citizenship Canada (IRCC) 3. [IRCC - SECU committee note: International Students (April 30, 2026)](https://www.canada.ca/en/immigration-refugees-citizenship/corporate/transparency/committees/secu-apr-30-2026/international-students.html) — Immigration, Refugees and Citizenship Canada (IRCC)