CANADA · CHAPTER 9
Proof of fundsfor Canada.
For applications from 1 September 2026, a single student outside Quebec must show CAD 23,448 for living costs plus first-year tuition and travel. Accepted proof includes tuition receipts, bank statements, a GIC, education loans and sponsor letters.
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Accepted proof
- First-year tuition and housing receipts
- GIC from a Canadian financial institution
- Education loan letter
- Six months of bank statements showing source of funds
- Sponsor letter with relationship and income proof
- Scholarship letter
TCS
Loan-funded education remittances carry nil TCS; self-funded remittances above ₹10 lakh a year carry 2% TCS from April 2026.
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Accepted proof of funds
- GIC from a participating bank
- Education loan from a financial institution
- Bank statements for the past four to six months
- Proof of paid tuition and housing
- Scholarship or funding letters
- A letter from the person or school giving you money
Red flags for visa officers
- Large deposits just before applying without an explanation
- Funds that do not match the sponsor's income
- Unclear relationships with sponsors
- Documents that cannot be verified
QUICK ANSWERS
Your questions, answered.
No. It is one accepted way to show living funds. Bank statements, loans and other evidence also work, as long as the funds are genuine and available.
WHERE TO GO NEXT
Keep going: the pages that help next.
Each card says what you will find there. Looking for something else? See every page on the site.
CANADA GUIDE
Study permit
Canada study permit from India: PAL, CAD 150 fee, biometrics, funds, medical exam, processing and what happens at the port of entry.
CANADA GUIDE
Fees & cost of living
Canadian tuition for international students, CAD 23,448 living funds, permit fees and monthly costs in Toronto, Vancouver and other cities.
FROM INDIA
Education loans from India
Study abroad education loans from India: public banks, private banks, NBFCs and international lenders, collateral, margin money, moratorium and 80E.
FROM INDIA
Sending money abroad
Pay foreign university fees from India: LRS limit of USD 250,000, TCS from April 2026 (nil on loans, 2% above ₹10 lakh), Form A2, forex cards and TCS refunds.
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