How Much Bank Balance is Required for Austria Student Visa: Austria is one of the top EU countries with higher student visa acceptance rates. You can apply for an Austrian Schengen visa for short-term tourism and recreation, business purposes, etc. The minimum balance requirement for a Schengen visa is EUR 1200 to 1500 per month.
However, international students must apply for a Visa D to pursue higher studies. The bank balance required for an Austrian student visa is between EUR 8500 and 12,000 per academic year. Continue reading to learn more about the balance requirements for an Austrian student visa.
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How Much Bank Balance is Required for Austria Student Visa: Minimum Balance
Before you get into Austrian universities, you need to prove that you have the financial footing to handle your stay in the country. Austria has specific financial requirements for student visa applications. You are required to show a minimum balance of around EUR 600 to 1000 per month. Age also plays an important factor in identifying the minimum balance requirements.
- Age also plays an important factor in identifying the minimum balance requirements. Students under 24 need to show around EUR 613.16 per month, while those 24 and older require EUR 1,110.26 per month.
- Multiply the monthly amount by the number of months you plan to stay (max 12 months). For instance, a 23-year-old student studying for a year would need around EUR 7,357.92.
- If your rent exceeds EUR 372.91 per month, you’ll need to show additional funds to cover the difference.
- The proof of funds covers both tuition fees and living expenses. This includes accommodation, food, transportation, student travel insurance and other miscellaneous expenses.
| Overview of Minimum Bank Balance for Austrian Student Visa | |
| Students Under 24 years | EUR 600 to 700 per month INR 54,238 to 63,278 per month |
| Students Above 24 years | EUR 1000 to 1,100 per month INR 90,398 to 99,428 per month |
| Total estimates | EUR 8,500 to 12,000 per academic year INR 7,68,000 to 10,84,000 per year |
Please Note: Rules change, so always check the Austrian embassy or consulate website for the latest information.
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.
Bank Requirements for Austrian Visa: Various Purposes
Austria has updated its proof of funds requirements. This is to ensure that those looking to study, work, or travel to reunite with their family can stay comfortably. The minimum balance for an Austrian visa helps them successfully manage their day-to-day expenses.
- The new policy ensures applicants can cover both studies/job search and living costs.
- The financial requirements are designed to be achievable while maintaining a certain standard of living.
- The system allows for adjustments based on individual circumstances and needs.
- You are required to provide clear bank statements and other financial records.
Let’s check out what are the minimum balance requirements for various purposes, other than the studies that have been discussed above already.
Job Seekers
Job seekers must demonstrate financial stability with around EUR 8,000 to 10,000 per year (INR 7.23 lakhs to 9 lakhs) for initial living expenses. These cover accommodation expenses, food, and other related expenses during their initial employment years.
Family Reunification
To meet family members, the minimum bank balance for an Austrian visa should be EUR 15,000 to EUR 20,000 (INR 13.5 lakhs to 18 lakhs) for the main applicant, plus EUR 5,000 per dependent (INR 4.5 lakhs).
Also Read: Want a secured loan at low interest rates? Check here all about education loans against FD to study abroad.
Financial Documents for Austrian Student Visa
As discussed, international students and travellers must maintain minimum bank balance requirements to show the funds for travelling to Austria. These funds must be supported via necessary documents. Check out the list of financial documents that must be attached to the visa application form and passport.
- Bank Statements: Show recent statements (3-6 months) with the required amount.
- Sponsorship Letters: If someone’s supporting you, provide their statements and a notarised letter.
- Scholarships and Grants: Any financial aid can strengthen your case.
This was all about the minimum balance requirements for an Austrian student visa. It is important to maintain the balance for a hassle-free stay in Austria and quicker visa acceptance. Make sure to get your documents translated into German and officially legalised.
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
If you are an EU student, you don’t require an Austrian student visa. However, a non-EU student who is staying for more than 3 months needs to apply for a Visa C. Those pursuing courses of more than 6 months need to apply for a Visa D and residence permit.
Visa C costs EUR 80 (INR 7321) and Visa D costs EUR 120 (INR 10,847).
Austria has specific financial requirements for student visa applications. You are required to show a minimum balance of around EUR 600 to 1000 per month.
Job seekers must demonstrate financial stability with around EUR 8,000 to 10,000 per year (INR 7.23 lakhs to 9 lakhs) for initial living expenses. These cover accommodation expenses, food, and other related expenses during their initial employment years.
To meet family members, the minimum bank balance for an Austrian visa should be EUR 15,000 to EUR 20,000 (INR 13.5 lakhs to 18 lakhs) for the main applicant, plus EUR 5,000 per dependent (INR 4.5 lakhs).
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