How Much Bank Balance Is Required for UK Study Visa

If you are reading this, you’ve probably decided to study in the UK, right?

Well, the UK is home to some of the world’s best universities, so we are not surprised to hear that. 

But before you plan this step, you must consider one major point: the UK study visa. 

This is because proving that you can financially support yourself while studying is a key part of getting this visa. Sounds intimidating? 

Don’t worry—we’re breaking it all down for you in this post. Therefore, by the end of this guide, you’ll know exactly how much money you need, where it can come from, and how to avoid common mistakes.

Understanding the UK Study Visa Financial Requirements

First things first, why does the UK government care about your bank balance? 

Well, it’s simple—they want to make sure that you won’t struggle to pay for your studies or daily life expenses while you’re there. 

In other words, they basically want to see that you have enough cash set aside to cover your tuition fees and living expenses.

In addition to that, you might also hear the term “Bank Statements” during this process. 

Therefore, remember that these are official documents showing how much money is in your account over a specific period. 

How Much Bank Balance is Needed?

Alright, let’s get to the point. 

How much money do you actually need? Well, in this case, there are two main costs to consider: tuition fees and living expenses.

Tuition Fees

This one’s quite obvious, right?. 

You need to show evidence that you’ve either paid your tuition fees or have enough money to cover them. 

In fact, the exact amount depends on your course and university. 

For example, a master’s program at a popular London university might cost way more than an undergraduate degree at a smaller school elsewhere. 

Therefore, make sure to check with your institution for the exact figure.

Living Costs

Here’s where things get a bit trickier. 

The reason for that is the UK government has set minimum amounts based on where you’ll be studying:

• £1,334 per month if you’re studying in London (because, well, London is expensive).

• £1,023 per month if you’re outside of London.

Anyway, the good news is that you only need to show funds for up to 9 months of your course. So, if your course is shorter, you’ll need less.

Total Calculation

Now, let’s put it all together. The formula is simple:

Tuition fees + Living costs = Total required funds.

For example:

If your tuition fee is £15,000 and you’re studying in London for 9 months, you’d need £15,000 + (£1,334 x 9) = £27,007.

On the other hand, if you’re outside of London and your tuition is £10,000 for a 6-month course, you’d need £10,000 + (£1,023 x 6) = £16,138.

See? Not so scary when you break it down.

Eligible Sources of Funds

Now, the problem is where this money can come from. Well, here are your options:

• Personal savings or fixed deposits in your own bank account.

• Sponsorship from parents or guardians (as long as they provide a letter by confirming their support).

• Scholarships or financial aid.

• Student loans (if they’re confirmed and available before you apply).

Note: The key here is that the money needs to be accessible and ready to use. 

Bank Statement Requirements

Now, onto the paperwork once again. 

Your bank statements are like the game changer in your visa application. 

So, here’s what you need to know:

• The account must be in your name or your parent/guardian’s name.

• The statements must cover a consecutive 28-day period, and the funds must stay above the required amount during this time.

A few common mistakes to avoid:

• Submitting statements that don’t cover the full 28 days.

• Showing balances that go below the required amount (even for a day!).

• Using unofficial or incomplete documents.

Tip: Take your time with this step—it’s crucial.

Conclusion

Proving your financial side might feel like a hassle, but it’s a critical step in securing your UK study visa. 

If you think about it, it’s not something that you cannot do.

By understanding the requirements, preparing your documents carefully, and planning ahead, you’ll be well on your way to success. 

Anyway, remember that a well-prepared application will increase your chances of approval and allow you to stay focused on what’s next to come.

So, note down all of our points and start planning the financial side. You’ve got this!

Contact TEVS a UK student visa consultants in Sri Lanka for more details.