Financial requirements

 

This is one of the most important requirements you need to demonstrate to the Home office to obtain a Student visa and enter the UK. Below will explain in detail documentary evidence needed and the conditions attached to them.

You need to demonstrate you have sufficient funds to maintain yourself in the UK without any financial pressure and also pay your fees. You need to demonstrate the following amounts maintained for 28 days in your bank account or your parent’s bank account or joint account with anyone. The financial requirements have changed from December 1 2020 as new immigration rules were introduced.

 

Location

Maintenance + outstanding fees

In Country – Making application in the UK

London

£1334 x 9 months

= £12,006 + outstanding tuition fees owed to the university maintained for 28 days

Good news!

If you are currently in the UK and have been in the UK on a Tier 4 General Student Visa or Student visa for a period 12 months then you are NOT REQUIRED TO SHOW FINANCES TO UKVI when submitting your visa application.

Outside London

£1,023 x 9 months

= £9,207 + outstanding tuition fees owed to the university maintained for 28 days

Types and conditions of financial documents you can use to demonstrate maintenance

The following documents below can be used to satisfy financial evidence:

  • The following documents below can be used to satisfy financial evidence: Original bank statements / online bank statements stamped by the bank/ bank letters/ bank passbook / educational loan letter from documents / fixed deposits statements/letter from an official financial sponsor such as government or multinational company.
  • ALL DOCUMENTS MUST DEMONSTRATE CASH FUNDS ONLY. This means funds need to be available to you at any time you wish. You cannot use credit cards, shares, bonds, bitcoins or any other non-cash financial instruments.
  • The documents can be in your name or your parents’ name or joint account with anyone else. If it is your parents’ account, you will require to submit your birth certificate and a parent consent letter. If it is a joint account, you will need a letter signed by the other account holder(s).