The minimum bank balance requirement for a Schengen Visa is around EUR 1200 to EUR 1500 per month. Understanding how much bank balance is required for a Schengen visa is important if you are travelling to Europe. This proves that you have sufficient funds to support yourself during your stay in the country. Meeting these requirements ensures quicker application processing and visa approvals. Specific country visa requires different balances as proof of funds. Let’s understand all the details about the minimum bank balance requirement for a Schengen Visa.
| Key Takeaways |
| The minimum bank balance requirement for a Schengen visa depends on the country you are applying to and the duration of your stay. |
| A minimum of EUR 1,200 to EUR 1,500 in your bank account is usually considered sufficient, though some countries may require more. |
| In addition to your bank balance, you may need to provide supporting documents such as bank statements from the last 3 months, proof of income, and a sponsor’s letter or guarantee. |
Table of contents
What is the Minimum Bank Balance Requirement for a Schengen Visa?
The minimum bank balance required for a Schengen Visa as per a general guideline is that you have at least EUR 1,200 to EUR 1,500 per month for the duration of your stay. This amount may vary depending on the country and the length of your trip. Some countries may require you to show more, especially if you’re visiting major cities with higher living costs or if you’re staying for a longer period.
For longer stays or a student visa, the requirements may be higher, and you may need to show proof of more substantial funds to demonstrate that you can support yourself throughout your entire stay.
Please note that it varies from country to country within the Schengen Area. Check the table shown below carrying the advised minimum bank balance required for a Schengen Visa in different countries:
Here is the information on the minimum bank balance requirements for a Schengen visa, presented in a table format:
| Country | Daily Expense Requirement | Minimum Bank Balance |
|---|---|---|
| Germany | EUR 45 per day | EUR 450 (for a 10-day stay) |
| France | EUR 65 per day | EUR 585 (for a 9-day stay) |
| Italy | EUR 50 per day | EUR 450 (for a 9-day stay) |
| Spain | EUR 70 per day | EUR 630 (for a 9-day stay) |
What is a Schengen Visa?
The Schengen visa allows you to travel freely within 26 European countries that are part of the Schengen Agreement. This visa is essential for students who plan to study in Europe for more than 90 days. Each country within the Schengen Area might have slightly different requirements, but the general principles remain the same. However, the one common condition for all the countries in the Schengen area is to have a minimum bank balance.
Also Read: Understand the core benefits of Sparkasse Bank Account for international students studying in Germany.
Why is the Minimum Bank Balance Important?
The minimum bank balance requirement is in place to ensure that you can financially support yourself without needing to rely on the host country’s resources. This includes covering your tuition fees, accommodation, living expenses, and any other costs that may arise during your stay. If you are using funds secured through an education loan, then you can show the education loan sanction letter provided by the bank.
How to Show Proof of Funds for a Schengen Visa?
Certain documents are required to show proof of funds for the Schengen Visa. You need to submit all supporting documents at the time of applying for the Visa. Check more details below:
- Personal Bank Statements: Provide bank statements for the last 3 to 6 months showing the required bank balance.
- Sponsorship: If a family member is supporting you, their bank statements and a letter of sponsorship will be needed.
- Scholarships: Official documentation of any scholarships you have received, detailing the amount and duration, can be used as proof.
- Germany Blocked Account (Sperrkonto): In countries like Germany, opening a blocked account with the required amount is a common method to show proof of funds.
Also Read: Check out some compelling reasons why you should consider the Central Bank of Germany for opening an international student account.
Tips for International Students
Every student shall begin preparing the financial documents well in advance. For getting a Schengen Visa you must ensure your bank account shows the necessary balance consistently for the required period. Check some more important tips below:
- If your bank statements or other financial documents are in a language other than English, have them officially translated.
- Each embassy might have specific requirements or additional documents they need. It’s good to consult with the embassy or consulate of the country you’re applying to.
- Ensure that all documents are genuine and verifiable. Consulates are stringent in their verification processes, and discrepancies can lead to visa denials.
Understanding and meeting the minimum bank balance requirement for the Schengen Area is very important. This will increase your chances of a successful visa application. Check some of the FAQs below.
To know more about education loans, the best bank accounts for students, and banking experience for global students or Forex reach out to our experts at 1800572126 to help ease your study abroad experience.
FAQs
The minimum bank balance required for a Schengen Visa varies by country within the Schengen Area. Generally, you need to show at least 1,200 to 1,500 euros per month for the duration of your stay. For example, Germany requires EUR 10,332, France EUR 615, and the Netherlands EUR 900.
A Schengen Visa allows you to travel freely within 26 European countries that are part of the Schengen Agreement. It is essential for students planning to study in Europe for more than 90 days.
The minimum bank balance requirement ensures that you can financially support yourself during your stay without relying on the host country’s resources. This includes covering tuition fees, accommodation, living expenses, and any other potential costs.
To show proof of funds, you need to submit supporting documents at the time of applying for the Visa. These can include personal bank statements for the last 3 to 6 months, sponsorship letters and bank statements from family members, official documentation of scholarships, etc.
You need to keep EUR 10,332 per year for Germany. For other countries, the amount is a bit less.
Yes, you can use a sponsor’s account, but you must provide a sponsorship letter and financial documents showing the minimum bank balance requirements for a Schengen visa.
Yes, you should have the required minimum balance available in your account for the entire duration of your stay.
You must meet the financial requirements to avoid the rejection of your visa application.
Yes, you can use fixed deposits, mutual funds, or other assets as proof of funds. However, you must provide official documentation proving the availability and liquidity of these assets.
Yes, student visa applicants need to meet the minimum bank balance requirement, which varies by country. For example, Germany requires around EUR 10,332 annually, while other countries may have lower requirements.
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