Canada study visa: Indians need ₹14 lakh as proof of funds after 11% hike

Students applying after September 1 must show more money in bank; a family of four now needs CA$42,543 (₹26.2 lakh) to qualify for study permit

Starting September 1, 2025, international students applying for a Canadian study permit will need to show higher financial proof to qualify. Immigration, Refugees and Citizenship Canada (IRCC) has raised the minimum funds requirement for a single applicant to CA$22,895 (₹14.12 lakh), up by CA$2,260 (₹1.39 lakh) from last year.

 

The new requirement applies to all applications submitted on or after that date, with higher thresholds for those bringing family members.

 

How much do you need to show?

 

The required amount increases with each accompanying family member. According to a CIC News report, a family of four will now need to show CA$42,543 (₹26.22 lakh), which is CA$4,197 (₹2.58 lakh) more than before. For every additional family member, an extra CA$6,170 (₹3.80 lakh) must be shown.

 

Here’s the breakdown of fund requirements from September 1, 2025:

 

1 person (applicant): CA$22,895 (₹14.12 lakh); up CA$2,260 (₹1.39 lakh)

2 people: CA$28,502 (₹17.58 lakh); up CA$2,812 (₹1.73 lakh)

3 people: CA$35,040 (₹21.62 lakh); up CA$3,457 (₹2.13 lakh)

4 people: CA$42,543 (₹26.22 lakh); up CA$4,197 (₹2.58 lakh)

5 people: CA$48,252 (₹29.73 lakh); up CA$4,760 (₹2.93 lakh)

6 people: CA$54,420 (₹33.53 lakh); up CA$5,369 (₹3.31 lakh)

7 people: CA$60,589 (₹37.33 lakh); up CA$5,978 (₹3.69 lakh)

Each additional person: CA$6,170 (₹3.80 lakh); up CA$611 (₹38,000)

 

Separate rules for Quebec

 

Students planning to study in Quebec must also meet the provincial requirement, in addition to IRCC rules. The Quebec immigration ministry (MIFI) sets different living expense thresholds. These range from CA$7,756 (₹4.78 lakh) for a single minor student to CA$27,499 (₹16.97 lakh) for a family with two adults and two children.

 

What can be used to show proof of funds?

 

Acceptable forms of proof include:

 

• Receipts for tuition and housing payments

• Canadian bank accounts in the student’s name

• Guaranteed Investment Certificates (GICs)

• Student or education loans

• Bank statements or drafts

• Letters from financial sponsors

• Scholarship confirmation

 

Drop in Indian student numbers

 

Apart from higher fund requirements, getting into Canadian universities is becoming harder. In 2023, Canada admitted 278,045 Indian students. That dropped sharply to about 188,846 in 2024. 

 

In the first quarter of 2025 alone, only around 30,000 Indian students received study permits—down 31% from the same period the year before. The decline follows Canada’s decision to cap the number of study permits for 2025 and reflects a broader push to reduce pressure on housing and public infrastructure.