Portugal is an attractive study destination for international students. While students from Schengen countries do not need a visa, Indian students must obtain a long-term D-type student visa to study in Portugal. However, maintaining a minimum bank balance to obtain it is required.
Indian students need somewhere between 1 to 1.5 lakhs in their bank account to ensure successful visa confirmation. In this blog, we will cover how much bank balance is required for a Portugal student visa, the necessary financial documents, and proof of funds for international students.
Table of contents
Bank Balance Required for a Portugal Student Visa
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).
For stays exceeding 90 days, you must apply for a long-term D-type visa. The minimum bank balance required for a Portugal student visa is around EUR 6,000 (INR 5.42 lakhs).
Breakdown of Financial Requirements for Portugal Student Visa
| Bank Balance Requirement | Amount in EUR | Amount in INR |
|---|---|---|
| Total Savings Required | EUR 6,000 – 7,000 | INR 5.42 – 6.32 lakhs |
| Monthly Living Expenses | EUR 600 – 750 per month | INR 54,000 – 67,000 per month |
| Annual Estimate | EUR 7,200 – 9,000 | INR 6.5 – 8.13 lakhs |
Note: These amounts are subject to change based on the latest embassy guidelines. Always verify the latest proof of funds for international students by checking the official Portuguese consulate or embassy website.
Please Note: The amounts mentioned are 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 Minimum 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
The minimum bank balance requirement is EUR 6,000 (INR 5.42 lakhs). For a year-long stay, you would need EUR 7,200 to 9,000 (INR 6.5 to 8.13 lakhs).
Students from Schengen countries do not need a visa, but Indian students must apply for a long-term D-type student visa.
While you are planning to pursue higher education in Portugal, you must apply for a student visa. You should apply for-
– A Type C Schengen Visa for short stays (less than 90 days)
– A Type D Visa for stays longer than 90 days
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.
You need to submit recent bank statements (3-6 months), scholarship/grant letters, notarized sponsorship letters, and an education loan sanction letter (if applicable).
Yes, if your parents are financially supporting you, you can submit their bank statements along with a sponsorship letter as proof of funds.
Unlike Germany, Portugal does not require a blocked account, but you must prove you have sufficient funds in your regular bank account.
If your funds are insufficient, your visa application may be rejected. Consider taking an education loan or securing a sponsorship to meet the financial requirements.
Your bank statements should be from the last 3 to 6 months and must reflect a stable financial position meeting the minimum balance requirement.
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