By TN Education Desk
Indian students who wish to apply for Canadian study permits will soon require to show proof of having Rs 14 lakh and above in their bank account, as per the updated terms of visa released by Immigration, Refugees and Citizenship Canada (IRCC). IRCC has updated its proof of financial support requirement for study permit applications in the first week of July. The new requirements will take effect for international students applying for a study permit on or after September 1, 2025. These new requirements will be applicable for international students studying in all provinces and territories outside Quebec. Family members (including the applicant) Funds required per year 1 CAN$22,895 2 CAN$28,502 3 CAN$35,040 4 CAN$42,543 5 CAN$48,252 6 CAN$54,420 7 CAN$60,589 If more than 7 people, each additional member CAN$6,170 As per the revised guidelines, international students who wish to pursue a higher education degree in Canada will have to provide proof that they have these funds as living expenses in order to support themselves, and any accompanying family members in Canada. What counts as ‘proof of funds’ • A Canadian bank account in the student’s name (if funds have already been transferred) • A Guaranteed Investment Certificate (GIC) from a participating Canadian financial institution • Proof of a student or education loan from a recognised bank • Bank statements for the past four months • A bank draft convertible to Canadian dollars • A letter from the person or school funding the student • Proof of funding from within Canada (such as a scholarship or paid educational programme) This update is part of the annual updation that IRCC does every year.