Requirements for proof of deposit for studying in Canada

For students who want to apply for a study visa in Canada, a certificate of deposit is definitely indispensable. For students who are not familiar with the preparation of a certificate of deposit for studying in Canada, let’s take a closer look at the detailed explanation!

1. Requirements for issuance of deposit certificate for studying in Canada

The deposit period of the deposit for studying in Canada must comply with the official Canadian deposit period requirements.

Canadian officials have detailed requirements for proof of funds for study abroad applications: in addition to proof of at least 12 months of fund accumulation history, applicants also need to have a written explanation of the source of funds.

When opening a certificate of deposit, it is generally required to freeze the relevant accounts. Generally speaking, the freezing period for deposit certificates related to studying abroad is three months, and it is a safe practice to deposit for six months.

The content of the certificate of deposit must be in Chinese and English. Regarding this point, most banks now can directly issue certificates of deposit in Chinese and English. However, some banks still need to emphasize this with the staff before issuing it. It is a certificate of deposit used for studying abroad. It needs to be in Chinese and English.

The account name on the deposit certificate for studying in Canada can be that of the applicant’s parents or the applicant’s own.

If the household names are parents, the applicant’s parents need to write another letter of financial support to show their relationship with the applicant. Finally, each bank will have its own format, but one thing to note is that the account name must be the English name of the applicant or parents, not his account number. In addition, sometimes there are situations where multiple banks need to issue certificates of deposit together, so the certificates of deposit can also be a combination of two or three banks, such as one from the Agricultural Bank of China and one from the Industrial and Commercial Bank of China, and submitted together to a school. , or used for visa, this is also possible, but it is best to have the same household name.

2. Amount of deposit certificate for studying in Canada

Generally speaking, because the fund certificate is issued, this part of the money cannot be used. Therefore, students who need to issue a deposit certificate can divide it into Two amounts of funds are frozen (of course, if your family is very wealthy and has idle money that is not used for other investments, you can save it in one amount):

The first amount is deposited when you are preparing to apply for school. At this time, as long as the funds are enough to cover your tuition and living expenses for one year in school, it will be fine. If you apply to multiple schools at the same time, the deposit amount only needs to be deposited by the school with the highest amount, and then sent to each school along with the required information.

The cost of studying in Canada is lower than that in the United Kingdom and the United States. It is generally within 200,000 yuan a year. When actually applying, you can check the tuition fees of relevant universities in the Kaiwei Study Abroad Guide College Database to confirm the specific deposit amount.

The second payment is deposited before going to get a visa. At this point, you already know how much your school charges. Multiply that by the number of years you have studied, and that’s the amount you want to save. This certificate only needs to be issued once. If you have fewer years, you can save less.

3. The freezing period for the deposit certificate for studying in Canada

The freezing period is stipulated by each bank, usually three months. If you think it is not safe, you can also apply for it. Half a year is fine.

The length of the freezing period does not matter much when showing the certificate of deposit to the Canadian visa officer. The safest way is to freeze it until the visa is obtained. When your visa is completed, you can take the original deposit certificate, ID card and time deposit passbook (card) to the bank to unfreeze it. Funds are available immediately.

The freezing period for the deposit certificate required by the school depends on the time when you submit the application materials and the time when you expect to receive the admission notice. Under normal circumstances, it is recommended to save for half a year and freeze for half a year. Since this certificate has been sent to the school, the money cannot be used until the end of the unfreezing period written when the certificate was issued.

4. How to unfreeze the deposit certificate for studying in Canada?

There are two ways to thaw:

Natural thawing. For example, the deposit will be frozen starting from January 1st, and the freezing period is 3 months. Then on April 1st, the funds will naturally be available.

Forced unfreezing: also use the above month to calculate the distance. If you want to use the money on February 1st, you must bring all the original deposit certificates, time deposit certificates and ID cards to the bank that issued you the deposit certificate for studying abroad, and then you can unfreeze it.

5. Reasons for refusal of Canadian study visa

Applicants with problematic study purposes

Basically, the school or major applied for does not match the student’s background. The visa officer is suspicious of the student’s purpose of study.

Applicants with financial problems

The Canadian Visa Center has always had very high requirements on the source of funds.

Applicants with a history of visa rejection

People often think that it will be more difficult to apply for a visa if there is a history of visa rejection.

Applicants with upside-down academic qualifications

Is the academic qualification you are applying for lower than the applicant’s own academic qualifications? This application method seems unreasonable to the visa officer.

Older applicants

Here, for the concept of "older age", the Canadian Immigration Law and Immigration Service IRCC. There is actually no clear requirement for the age of study permit applicants.

Applicants with the intention of immigrating

This situation is actually rare. Canada currently encourages international students to stay in Canada to work and start a business after graduation, so the immigration regulations for international students have always been relatively strict. Loose.