+91 92157 48168
Canada Study Permit
Funds Calculator
Calculate the total liquid funds required for your Canada student visa (SDS or non-SDS), including GIC, tuition, and travel buffer.
Total Proof of Funds
Canada Study Permit: Financial Requirements 2026
To satisfy Canadian immigration (IRCC) standards, international students must demonstrate sufficient financial capacity to cover tuition and cost of living. For the 2026 academic year, a single applicant requires a Guaranteed Investment Certificate (GIC) of at least $20,635 CAD for living expenses, in addition to full payment of first-year tuition.
SDS Stream (Recommended)
For students from India, China, Philippines, etc.
Non-SDS Stream
For all other applicants or those without GIC.
- Proof of tuition payment (at least 1st semester).
- Bank statements for the last 4-6 months (Liquid funds).
- Explanation of source of funds (SOP is critical here).
Breaking Down the Numbers
| Category | Requirement (CAD) | Description |
|---|---|---|
| Living Expenses | $20,635 | Fixed GIC amount (Excluding Quebec). Includes bank admin fees. |
| Tuition Fees | $15k - $35k | Varies by program and institution. Must be fully paid for SDS. |
| Travel/Misc | $2,000 | Buffer for airfare and initial settling-in costs. |
Acceptable Sources of Funds Checklist
For the Non-SDS Stream or when proving secondary funds to strengthen your visa profile, the IRCC audits the origin of your assets. The following sources are recognized, provided you submit clean documentary trails:
- Savings Account Balance: Show bank statements from the last 4-6 consecutive months. Avoid large, sudden deposits without explanation ("Lump Sum" funding). If a deposit is made, back it up with a salary slip, sale of property documents, or crop-sale receipts.
- Fixed Deposits (FDs) & Post Office Savings: Highly favored by visa officers due to their stable, low-risk nature. Provide the FD certificates along with a bank letter showing the present surrender value.
- Education Loans: Must be sanctioned by a nationalized or private commercial bank. Provide the official loan sanction letter listing the terms of disbursement and details of the collateral.
- Provident Funds (EPF/GPF): Funds accumulated in Employee Provident Funds can be partially withdrawn for education. Submit the latest EPF statement showing the withdrawable balance along with the employer's authorization letter.
- Gift Deeds: If a close relative (other than parents) is sponsoring you, a legally registered Gift Deed is mandatory. The sponsor must demonstrate their financial capacity and write a declaration stating that the funds are given freely and do not need to be repaid.
Expert Tip: The "Source of Funds"
"Simply having the money in your account is not enough for Canada. You must explain where the money came from. If it's a gift from parents, you need a Gift Deed. If it's from savings, you need to show salary slips or business income. This is where most students fail."
Dr. Shruti Mehtaa
Visa Expert & Mentor
Validate Your Financial Documents
Don't guess with your Canada Study Permit. Our experts can audit your bank statements, GIC letters, and financial SOP to ensure 100% compliance.
Canada Funds FAQ
Q. What is the new GIC amount for Canada 2026?
As of the current IRCC update, the GIC (Guaranteed Investment Certificate) required for living expenses in Canada is $20,635 CAD for a single applicant (excluding Quebec). This is in addition to the 1st-year tuition fee.
Q. Do I need to pay the full tuition fee for SDS?
Yes. To qualify for the Student Direct Stream (SDS), you must provide proof of full payment for your first year of tuition. For the non-SDS stream, partial payments may be accepted, but it is not recommended.
Q. What are the financial requirements for Quebec?
For programs in Quebec, the living expense requirement is slightly lower, currently around $15,078 CAD for 2026, plus tuition fees and health insurance.
Q. Can I use a loan as proof of funds?
Yes! An education loan from a reputable bank is one of the most reliable forms of proof of funds for a Canadian study permit. You must provide the official sanction letter and, if possible, the disbursement proof.
Q. Should I include travel expenses in my proof of funds?
While not explicitly mandated in the GIC amount, the IRCC recommends showing an additional $2,000 - $3,000 CAD to cover your airfare and initial settling-in costs to avoid rejection.
Q. How old should my bank statements be?
Typically, you should show bank statements for the last 4 to 6 consecutive months. The funds should show a stable or increasing balance, rather than sudden large deposits ('Lump Sum' deposits without explanation often lead to rejection).