🇨🇦 Proof of funds for a Canada Study Permit
How much you need to show, how long it has to sit there, and the bank-statement mistakes that quietly sink otherwise strong applications.
Calculate my exact figureThe figure for this route
Per month of stay
CA$1,150
Statements required
12 months
Funds held for
120 days
Worked example
A 12-month trip at CA$1,150 per month = CA$13,800. Show a comfortable margin above it — a balance that lands exactly on the minimum reads as coached. Add CA$350 per month for each dependant.
IRCC looks for a stable balance over roughly four months, not a recent lump sum. Single students outside Quebec need CAD 20,635 for living costs.
Last reviewed 12/08/2026 · Source: IRCC — Proof of funds. Always confirm against the official Canada guidance before you submit.
Why financial evidence gets rejected
- A lump sum deposited inside the 120-day window with no explanation of where it came from.
- Screenshots or edited PDFs instead of a bank-issued statement with the bank's own header on each page.
- The name on the statement not matching the passport exactly, including middle names and initials.
- A closing balance dated more than 30 days before the appointment.
- A sponsor's funds shown with no sponsorship letter, relationship proof or their own income evidence.
Frequently asked questions
How much bank balance is needed for a Canada Study Permit?
Plan for at least CA$13,800 covering 12 months, plus about CA$350 per month for each dependant travelling with you. Caseworkers look at the closing balance and how stable it was, not just the highest figure.
How long must the money sit in my account for a Canada Study Permit?
The funds should be held for at least 120 days before you submit. A large deposit landing days before the appointment is one of the most common reasons financial evidence is dismissed.
How many months of bank statements do I need?
12 months of continuous statements, stamped or downloaded directly from the bank, with your name and account number visible on every page.
More for Canada — Study Permit
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