The Amount: What IRCC Asks For
IRCC raised the minimum for applications made on or after 1 September 2026. These are the figures on its proof of financial support page for students studying outside Quebec. They cover living expenses for one year and exclude tuition and travel.
| Household | Minimum funds, outside Quebec |
|---|---|
| Student alone | CAD 23,448 |
| Student plus 1 family member | CAD 29,192 |
| Student plus 6 family members | CAD 62,054 |
| Each additional family member beyond 7 | CAD 6,318 |
Two numbers, not one
What Counts as Proof
IRCC gives examples rather than a closed list. The common ones for Indian students:
- A guaranteed investment certificate (GIC) from a Canadian financial institution.
- Bank statements for the past six months that show where the money came from.
- An education loan from a bank.
- A scholarship, or funding from a Government of Canada programme.
- A letter from the person or institution giving you money, stating their relationship to you and the amount.
- Proof that you have paid tuition, such as a receipt from your institution.
IRCC asks for six months of statements that show income sources, so the history matters as much as the closing balance. If a parent is funding you, show their income and how the money built up.
The Rest of the Application
The proof of funds sits inside a larger file. The government fee for the study permit and PGWP route is $535 in our data, processing runs 2–8 months, and our checklist suggests starting 6-12 months before term start.
- A letter of acceptance from a designated learning institution.
- A Provincial or territorial attestation letter (PAL/TAL), where your province or territory issues one for your programme.
- Biometrics, at $85 CAD (max $170 CAD for a family applying together).
- A letter of explanation setting out your study plan and why you will follow it.
Our checklist puts the out-of-pocket cost beyond the government fee at $1,000-2,500 CAD (biometrics + medical + translations, excluding tuition).
From Student to Permanent Resident
The study permit does not lead to permanent residence on its own. The usual route is study, then a Post-Graduation Work Permit, then the Canadian Experience Class once you have Canadian work experience.
| Pathway | Government fee | Processing | Published salary floor | Leads to PR |
|---|---|---|---|---|
| Study Permit + Post-Graduation Work Permit (PGWP) | $535 | 2–8 months | See pathway page | No |
| Express Entry: Canadian Experience Class | $1,570 | 3–6 months | See pathway page | Yes |
For the full picture of Canadian and other routes open to you, see Canada for Indian citizens and the CRS calculator for the Express Entry stage.
Frequently Asked Questions
What is the minimum bank balance for a Canada student visa from India in 2026?
For applications made on or after 1 September 2026, IRCC requires a single student studying outside Quebec to show CAD 23,448 for living expenses, on top of the first year of tuition and travel costs. Applications made between 1 January 2025 and 31 August 2026 needed CAD 22,895.
Is a GIC mandatory for Indian students going to Canada?
IRCC lists a guaranteed investment certificate from a Canadian financial institution as one accepted proof of funds, alongside bank statements for the past six months, education loans, scholarships and letters from the person supporting you. It is one option, not the only one.
Does the proof of funds include tuition?
No. The living-expense amount excludes tuition and transportation. You show the first year of tuition separately, usually with a receipt from your designated learning institution.
How much do I need to show for Quebec?
IRCC does not set the amount for Quebec. It points applicants to the costs published by Quebec's immigration ministry for the Quebec Acceptance Certificate (CAQ).
Can I get permanent residence after studying in Canada?
Not directly from the study permit. After graduating, an eligible student gets a Post-Graduation Work Permit, and the Canadian work experience counts toward the Canadian Experience Class, which processes in 3–6 months in our data.
official sources: Study + PGWP · canada.ca·CEC · canada.ca