
Canada revises visa rules for Indian students: Here's how much money you will need now
It is well known among Indians and Canadians, that a huge number of Indians migrate to Canada every year for higher studies and better living opportunities. In 2024, there were a total of 136,608 Indian students studying in Canada and while the number dropped last year, Canada sees a steady influx of Indian students year by year.
Now in a new rule announced by the Immigration, Refugees and Citizenship Canada (IRCC) on June 2, 2025, Indian students planning to study in Canada will need to show more money in their bank accounts.
How much money do you need to move to Canada?
Image credits: iStock
From September 1, 2025, students applying for a Canadian study permit need at least CAN $22,895 (₹14 lakh) in their bank accounts for living expenses. This is an increase from the previous CAN $20,635.
This new rule will apply to all international students moving to provinces and territories outside Quebec.
Also to note, is that this amount is in addition to the first year's tuition fee and travel expenses.
Amount varies with family size?
Image credits: iStock
This revision is in line with the annual update related to the cost of living. Thus, students bringing family members along also need to present increased funds.
1 person: CAN $22,895
2 people: CAN $28,502
3 people: CAN $35,040
4 people: CAN $42,543
5 people: CAN $48,252
6 people: CAN $54,420
7 people: CAN $60,589
Each additional family member: CAN $6,170
Point to note: For applications submitted before September 1, 2025, the amount will remain CAN $20,635.
What is the acceptable proof of funds?
IRCC accepts various documents as proof of funds that students can support themselves in Canada. These include:
A Canadian bank account in the student's name (if funds have been transferred)
A Guaranteed Investment Certificate (GIC) from a participating Canadian financial institution
Proof of student or education loan from a recognised bank
Bank statements of the past four months
A bank draft convertible to Canadian dollars
A letter from the person or school funding the student
Proof of funding from within Canada (such as a scholarship or a paid educational programme)
All these documents prove that the student will be able to handle the living expenses in Canada.
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Disclaimer
: This article serves as a starting overview. Policies are subject to change, and you should verify every detail—especially timelines, financial thresholds, and documentation—with IRCC or professional advisors before applying.

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