Students are zealously preparing to turn their study abroad dreams into reality after the pandemic. If you are also planning to study abroad, you must know that the student visa application process is as important as the university application process. So, ensure you have all your important documents in place for a smooth application experience. One of the important documents for the study visa application process is Proof of Funds. Here’s everything that you must know about the proof of funds.
What is Proof of Funds?
Every study abroad destination will require you to provide evidence that you can bear the cost of education in your host country. You are expected to cover airfare, tuition fees, accommodation costs, study material expenses, cost of learning devices, living expenses, and other education-related expenses when you apply for a student visa. So, this ensures that you stay and study in your dream study abroad destination without running out of finances to continue your higher education.
Please remember that the cost of education and proof of funds requirements will vary from country to country. So, you need to ensure you meet the requirement of the respective country to get your student visa. For instance, if you aspire to study in Canada, you have to arrange 1 year’s living expenses and deposit them into the G
Which documents are accepted as proof of funds?
We always aim to offer you competitive interest rates on your Avanse Education loan.
The rate of interest on your loan is calculated as: Interest Rate = Avanse Base Rate + Spread.
Our current Base Rate is 14% (WEF 01.02.2023).
The Spread is floating and is based on analysis of overall credit and course profiling.
This rate is subject to the terms and conditions of Avanse Financial Services Ltd.