To study in Malaysia, Indians must obtain a Malaysian student visa- I-Kad, an official Malaysian identity card. This allows you to pursue academics without any worries. However, to secure a Malaysia student visa, you need to have a minimum bank balance of MYR 40,000. This ensures that you have sufficient funds to cover your tuition fees and living expenses for one year. Read further to know more about how much bank balance is required for Malaysia student visa.
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How Much Bank Balance is Required for Malaysia Student Visa?
Studying in Malaysia is a great prospect. It is ranked among the top countries that offer world-class education as well as popular tourist destinations. You can apply directly via your selected university and submit the completed application. Make sure to have a minimum bank balance of MYR 40,000 (INR 7.11 lakhs). It is ideal to have this balance in Malaysian currency only- The Ringgit Malaysia (MYR).
The funds in your bank account provide proof of financial stability which lets you focus on your academic pursuits in Malaysia. This ensures that you can cover your tuition fees, accommodation, student travel insurance, transportation, and other related study-abroad expenses.
| Minimum Bank Balance for Malaysia Student Visa | |
| Bank Balance Required | MYR 40,000 per year (INR 7.11 lakhs per year) |
| Financial Documents to Support Minimum Balance | Bank statements, education loan sanction letters, scholarship letters, savings and investment certificates, etc. |
Please Note: The minimum balance is subject to change based on the guidelines revision by the Immigration Department and Malaysian Embassy. Check the official website for the latest updates.
Also Read: Want to take an education loan to cover the finances required for abroad studies? Check out the blog on student loans for the Netherlands.
Why Do I Need a Minimum Balance in Bank for a Malaysian Student Visa?
Ensuring a minimum bank balance for a Malaysia student visa is the key to quicker visa approvals. But why? It’s because the visa authorities feel confident that you can sustain yourself during your academic journey. The bank balance ensures that you can support yourself financially and cover tuition fees, living expenses, and other costs.
Tuition Fees
The average tuition fees in Malaysia range from MYR 27,000 to 72,500 (INR 4.81 lakhs to 12.92 lakhs). You may choose to cover this via education loans from any bank. An education loan sanction letter can be submitted as proof of funds during visa application to show the minimum bank balance for a Malaysia student visa.
Living Expenses
Besides tuition fees, you incur costs on student accommodation in Malaysia, transportation, food, travel, and other expenses related to entertainment. They cost you around MYR 1,800 per month (INR 32,000).
Additional expenses of MYR 2,000 (INR 35,000) can be incurred on miscellaneous purchases. Thus, a minimum bank balance ensures you can cover these expenses for a certain period.
Remember: Insufficient funds in your bank account is one of the top reasons for the rejection of a Malaysia student visa. To ensure that the Malaysian Immigration Department approves your student visa, have a minimum of MYR 40,000 in your bank account.
Also Read: Want to study in Schengen countries? Check out the minimum balance requirements for a Schengen visa.
Financial Documents for Malaysian Student Visa
We have already talked about the minimum bank balance requirements for a Malaysian student visa. You need to ensure that you have MYR 40,000 in the bank to cover your tuition fees, living expenses, and other costs during your stay. But how do you do that?
For that, you must submit the financial documents along with visa application, mark sheets, university acceptance letters, health insurance, and other visa-related documents. This section talks about the primary financial documents you’ll need for a Malaysian student visa-
Bank Statements
- Show recent bank statements that provide a consistent inflow and outflow of funds. The statements should ideally cover the past six months.
- They should reflect a minimum bank balance of around MYR 40,000 (approx USD 8500). However, it is best to keep a little more than the stated limit.
- If the funds are in a joint account, a letter of authorization from the joint account holder is often required.
Scholarship/Loans (If Applicable)
- If you have a scholarship, provide the official scholarship letter detailing the amount and duration.
- If you have taken an education loan to study abroad in Malaysia, provide the loan approval letter to show the minimum bank balance requirement for a Malaysian student visa.
Savings/ Investment Documents
- While not mandatory, fixed deposits as savings can strengthen your financial profile.
- You can submit proof of investments like stocks or bonds can also be considered.
Also Read: Want a secured loan at low interest rates? Check here all about education loans against FD to study abroad.
This was all about the minimum balance requirements. Hope this blog answers the question of how much bank balance is required for Malaysia student visa. Always ensure to keep the amount ready in your bank accounts for faster visa processing and approvals.
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
Typically, you need enough to cover tuition, living costs (approx. RM 1,500/month), and miscellaneous expenses for at least one year. However, make sure to have a minimum bank balance of MYR 40,000 per year (INR 7.11 lakhs)
To study in Malaysia, Indians must obtain a Malaysian student visa- I-Kad, an official Malaysian identity card. This allows you to pursue academics without any worries.
Malaysian student visa processing can take around 1-3 weeks. The visa office typically takes two weeks to approve the Visa Approval Letter and verify the required documents.
Malaysian student visa fees range from MYR 810 to 1,560 depending on the type of university you apply to. This is somewhere between INR 14,400 to 27,811.
You need to submit Bank statements, education loan sanction letters, scholarship letters, savings and investment certificates, etc. as financial documents to prove sufficient funds in your bank account.
