Portugal attracts many international students for higher education. Students belonging to Schengen countries do not need a Portugal visa, but Indians must obtain a long-term D-type student visa to study in Portugal. An important aspect is to maintain a minimum bank balance based on the guidelines provided by the embassy. Continue reading this blog to learn more about how much funds are required for a Portugal student visa.
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How Much Bank Balance is Required for Portugal Student Visa: Minimum Balance Requirements
While you are planning to pursue higher education in Portugal, you must apply for a student visa. A Type C visa or a standard Schengen visa would work for a short period, which is valid for stays less than 90 days. The minimum balance requirement for a Schengen visa is EUR 1200 to 1500 per month (INR 1.08 lakhs to 1.35 lakhs).
However, you should apply for a long-term Type D visa if you plan to stay for more than 90 days in Portugal. This will enable you to complete your degree at Portugal universities, undergo training for a job, or carry out academic research. The minimum bank balance requirement for a Portugal student visa is EUR 6000 (INR 5.42 lakhs).
| Overview of Minimum Bank Balance for Portugal Student Visa | |
| Bank Balance | EUR 6000 to 7000 as savings INR 5.42 lakhs to 6.32 lakhs as savings |
| Monthly Requirements | EUR 600 to 750 per month INR 54,000 to 67,000 per month |
| Total Estimate | Multiply this by the number of months you plan to stay. For instance, for a year-long program, you’d need around EUR 7,200 to EUR 9,000 (INR 6.5 lakhs to 8.13 lakhs) |
Please Note: The amounts mentioned as subject to change based on changes in guidelines. It is advisable to always check the Portuguese embassy or consulate website for the latest information.
Also Read: Want a secured loan at low interest rates? Check here all about education loans against FD to study abroad.
Why Bank Balance is Required for Portugal Student Visa?
It is important to demonstrate your financial status when applying for a Portugal student visa. This ensures that you are set to cover the tuition fees, living and accommodation expenses, and embark on a hassle-free academic journey without worrying about finances. Check out the major reasons below-
- The visa authorities want to ensure you can cover your living expenses without relying on public funds.
- Portugal, like any other country, has living expenses. A minimum bank balance requirement for a Portugal student visa ensures that you can cover rent, food, and daily needs.
- Unexpected costs might arise at times. Having a financial cushion helps you handle emergencies without stress.
- Knowing that your finances are sorted lets you concentrate on your studies without worrying about money matters.
Thus, it is important to ensure that you have enough money in your bank account before applying for a visa, especially if you have taken an education loan. Insufficient funds can lead to visa rejection and this is what can happen to your education loan if your visa is rejected.
Financial Documents for Portugal Student Visa
When applying for a Portugal student visa, you must collect all the required paperwork for your visa application. This includes your passport, acceptance letter, proof of funds, and more. Always be prepared to provide clear bank statements and other financial records. Check out the financial documents that you can submit to show the bank balance requirements for a Portugal student visa-
- Recent bank statements of the last 3 to 6 months to display the minimum required funds in your account.
- Submit notarized sponsorship letters, if applicable
- If someone’s supporting you, provide their bank statements. For example, a copy of the education loan sanction letter mentioning the breakdown of funds provided by the bank/ lender to cover tuition fees and accommodation expenses.
- Any financial aid like scholarships and grants can strengthen your application.
Also Read: Check here all the important details about education loans against mutual funds to study abroad.
Other Documents
- A valid passport with at least three blank pages is a must.
- Official acceptance letter from a Portuguese university.
- Proof that you’ve settled your tuition fees.
- Two recent passport-sized photos following Portuguese guidelines.
- Complete the Portugal student visa application form provided by the embassy.
- Financial documents as mentioned above
- Proof of your living arrangements in Portugal (accommodation)
- A certificate of good conduct (no criminal record) might be required.
- Proof of comprehensive student travel insurance and health insurance covering your stay.
This was all about the minimum balance requirements for a Portugal student visa. Always remember that clear and recent bank statements are crucial. Follow specific embassy guidelines for translations and legalizations, if required.
To know more about education loans, the best bank accounts for students, forex and banking experience for global students or international money transfers, reach out to our experts at 1800572126 to help ease your study abroad experience.
FAQs
Students belonging to Schengen countries do not need a Portugal visa, but Indians must obtain a long-term D-type student visa to study in Portugal.
While you are planning to pursue higher education in Portugal, you must apply for a student visa. A Type C visa or a standard Schengen visa would work for stays less than 90 days. Obtain a Type D visa if you plan to stay for more than 90 days in Portugal.
A minimum bank balance requirement for a Portugal student visa ensures that you are set to cover the tuition fees, living and accommodation expenses, and embark on a hassle-free academic journey without worrying about finances.
The minimum bank balance requirement for a Portugal student visa is EUR 6000 (INR 5.42 lakhs). For a total estimate, you can multiply this by the number of months you plan to stay. For instance, for a year-long program, you’d need around EUR 7,200 to EUR 9,000 (INR 6.5 lakhs to 8.13 lakhs).
You need to submit recent bank statements of the last 3 to 6 months, scholarship letters and grants (if applicable), notarized sponsorship letters (if applicable) and a copy of the education loan sanction letter (if applicable).
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