Bank Balance for F1 Visa ( Updated )
By HSB
I got few more comments and questions on how much liquid cash to show as proof for visa. Refer to your I-20, you can also read the sample I-20 fees breakdown and find what is the total fee for 1 year from section 7. I will list the best case and worst case options for showing bank balance. Best case being, your chances of getting visa is more, and worst case would be less chances.
Lets assume 1 year total expense = $20,000 ( incl tuition, living, other expense )
Case 1: ( Visa Chances > 90% )
1 st year : 1.5 * $20,000 = $30,000 as Liquid Cash in Savings Account
2nd year : $20,000 ( in Savings Account, or combination of Fixed Deposit, Savings Account, ..)
Backup : $20,000 in Student Loan
Plus : Movable and Immovable properties and continuous income for parents as per Income Tax Returns.
Case 2: ( Visa Chances > 50% )
1 st year : $20,000 in Liquid Cash ( Savings Account )
2nd year : $20,000 ( $5,000 Savings Account + $5,000 Fixed Deposit + $10,000 in Student Loan )
Backup : $10,000 from Student Loan
Plus : Movable and Immovable properties and continuous income for parents as per Income Tax Returns.
Case 3: ( Visa Chances < 50% )
1 st year : $20,000 in Liquid Cash ( Savings Account + Fixed Deposit )
2nd year : $20,000 ( $20,000 in Student Loan )
Backup : No Liquid Cash Available
Plus : Movable and Immovable properties and continuous income for parents as per Income Tax Returns.
Above cases are what I would assume, how one’s visa chances would be based on Financial Balance. It doesn’t include academic, GRE and other credentials.
Case 3 doesn’t mean you will be denied Visa. Some colleges are very expensive, so Case 3 will be the best student can show a proof of balance. I will get some visa bank balance shown by students for different colleges and will post here in few days. That will give you an idea of how much balance to show.
Related posts:
- How Much Bank Balance for F-1 Student Visa
- Bank Balance for students with Scholarship – Reader’s Question
- Bank Balance of Students who got F1 Visa
- Student Visa : Can I borrow money from relatives?
- Bank Balance of $37,100 Without Student Loan?
I’m assuming the fee would be within the Rs. 20 lacs range here and another Query is will that loan be nice enough to satisfy the Universities?
Hi!,
My dad could be having around 4lacs in total, how about i take a loan of 20 lacs. Would that be good to support the entire MS program for whatever number of months it lasts?
I’m just apporehensive about showing the xx lacs amount in the financial documents, i know we all manage to complete MS in way less money than whats mentioned on the i20, we being Indian(efficient!). Kindly throw some light on this query.
Hi, I have been reading about the posts regarding the funds required to get the education in US. I want to generally share one thing.
I have been selected for MS in New york University and fee is around $32000 yearly. I went to the bank to apply for loan and the Bank loan works like this:
Bank checks how much liquid assets your have and then calculate the total expenditure of the education like in my case $64000.
Now the bank is ready to give me complete loan or ($6400 – $liquid assets my sponsor have) as they put there money in the complete Project.
My question is if the Saving a.c are creating so much problems then can’t we take the complete education loan from the bank?
Can you please tell me what is the maximum amount of loan i should apply for.Suggest me the maximum.
Thanks
Actually i got my i20 and i have my F1 visa appointment in more 18 days. Currently My parents savings account has 2 lakhs only and in next week days there will be more 5 L added to that. I dont have any FD and applying for loan. How much loan should I apply and is the savings of 7L is enough. Moreover, if i deposit 7L then is there any proof required!. The expenses in the univ are 22000$ per annum.
well i have an i20 and currently have the funds for all the 2 years in liquid assets only… one doubt that i have in mind is that do i need to have all the required funds in my savings account??
currently i have about 70% of the amount (for 1yr) in savings and the rest is invested in FDs and other saving schemes…
could i face any problem in my visa??
Nice blog. I will keep reading. Please take the time to visit my blog about College scholarships
Hi!
You didnt consider the cases with financial assistance. Suppose one year Total expenses are $20,000(incl tuition, living, other expense )And its mentioned on I20(in column 8b) that one year Funds from School= $20,000(Assistantship).
can you plese let me know what bank balance wud ve to show for integrated phd?