Finland is known for its high-quality education and exciting student life. This country is an increasingly popular destination for Indian students. If you’re planning to study in Finland, one major aspect to consider is the financial requirement, especially how much bank balance is required for a Finland student visa. This is a regulation set by the government to ensure that you have sufficient funds to stay and study in the country for the stated period. Let’s check all the details associated with the bank balance required for a Finland student visa.
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Finland Student Visa: Bank Balance Requirement
As per the latest guidelines by the Government of Finland, you need to show that you have at least EUR 560 per month to cover living expenses. For a one-year stay, this amounts to a minimum of EUR 6,720. If your course duration is longer, you need to show that you have sufficient funds for the entire duration or that you can reliably receive the required amount each month. If you are taking an education loan to study abroad, you can show the education loan sanction letter to support your financial status.
- A copy of the loan sanction letter must be submitted along with the Visa application
- The minimum amount in the bank shall be maintained for at least 8-9 months regularly
- You must have sufficient funds for the cost of living apart from depositing the tuition fee and accommodation expenses.
Also Read: Check here all about the HSBC International Student Account
Minimum Bank Balance Required: A Detailed Breakdown
Studying in Finland offers a unique combination of academic excellence and cultural richness which attracts students from around the globe. However, understanding the cost of studying in Finland is necessary so that you can plan well in advance. Check below the breakdown of costs associated with studying in Finland:
| Expenses | Amount |
| Monthly Expenses | EUR 560 |
| Annual Expenses | EUR 6,720 |
| Expenses for a 2-year course | EUR 13,440 |
Financial Documents Required
To apply for a Finland visa, you need to provide financial documents such as bank statements showing sufficient funds to cover your stay, proof of employment and income (such as salary slips or tax returns), and possibly a letter of sponsorship if applicable. Check the detailed list below:
- Recent bank statements (usually the last three months) showing the required balance.
- If you have received a scholarship, a formal letter confirming the scholarship amount and duration.
- If a family member or guardian is sponsoring you, their bank statements along with an affidavit of support.
Also Read: Want an unsecured education loan? Check here all about RBI Guidelines on Collateral Free Education Loans
Meeting the financial requirements for a Finnish student visa is an important step in your journey to study in Finland. By understanding the bank balance needed and preparing your documents properly, you can ensure a smooth application process. Check some FAQs on the same below:
FAQs
As per the latest guidelines from the Government of Finland, you need to show at least EUR 6,720 in your bank account for a one-year stay. This equates to EUR 560 per month for living expenses.
Yes, you should maintain the minimum required bank balance consistently for at least 8-9 months before your visa application. This shows that you have the financial means to support yourself during your stay in Finland.
Yes, you can use an education loan to support your financial status. You will need to provide a copy of the education loan sanction letter along with your visa application to demonstrate this.
In addition to bank statements showing the required balance, you may need to provide proof of employment and income (such as salary slips or tax returns), and possibly a letter of sponsorship if applicable. If you have a scholarship, you’ll need a formal letter confirming the amount and duration.
The financial requirement is based on the length of your stay. For longer courses, you need to show sufficient funds for the entire duration of your studies or prove that you can reliably receive the required amount each month.
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.
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