Visa Funds Requirement in United Kingdom
One has to provide a certain minimum amount of visa fees and provide a proof of the financial sources.
Studying within the London borough --- First year tuition+ 7200 pounds (nine months max).
Outside London borough --- first year tuition+ 5400 pounds (nine months max.)
- It is necessary for the funds to be at least 28 days old from the date of applying the visa, and is only available in savings or current account. It is mandatory for the account to be in the name of the student or there must be a joint account for the financial sponsor along with the student. Chances made on August 21, 2009 enabled funds to be shown in the name of parents too.
- Banks issue a letter of conforming the availability of fixed deposits and encashment is possible is possible within a maximum of 28 days. Bank letters are to be dated less than one calendar month from the date of visa application.
- C. A sanction letter dated less than one calendar month need to be produced with a copy of terms and conditions; in case of education loan or loan agreement if issued by the bank must be signed by all the parties of the agreement. When bank’s sanction is subjected to the issue of visa, Border Agency assumes that by the time the student travels to United Kingdom, he/she is likely to get the funds.
Fund availability must be shown on the day of application for any visa application made before 1st June 2009.