How much proof of deposit do you need to study in Canada?

A visa for studying in Canada requires a guarantor's income certificate, and the annual income on the tax bill must reach at least 58,000 Canadian dollars. You need a deposit certificate of less than RMB 200,000 a year.

Detailed explanation of deposit certificate

A certificate of deposit refers to a certificate issued by a bank for a depositor, which proves that the depositor's deposit balance at a certain point in time or the deposit amount during a certain period, and that the depositor has an unused deposit balance in the bank before a certain point in the future.

Canadian study abroad certificate requirements

The deposit period of Canadian study abroad deposit should meet the official requirements of Canada. The Canadian government has made detailed requirements for the proof of funds for studying abroad: in addition to the accumulated funds of at least 12 months, the applicant also needs a written explanation of the source of funds.

When issuing deposit certificates, it is generally required to freeze the relevant accounts. Generally speaking, the freeze period of deposit certificates related to studying abroad is three months, and it is an insurance practice to deposit them for six months.

The contents of the deposit certificate must be in Chinese and English. In this regard, most banks can directly issue certificates of deposit in Chinese and English, but some banks still need to emphasize to the staff that certificates of deposit for studying abroad need to be issued in Chinese and English.

The account name of the Canadian study abroad deposit certificate can be the applicant's parents' or the applicant's own. If the household name is parents, the parents of the applicant need to write another letter of financial support to show their relationship with the applicant. Finally, each bank will have its own format, but it should be noted that the account name must be the English name of the applicant or parents, not their account number.

Sometimes there will be cases where multiple banks need to issue certificates of deposit together, so certificates of deposit can also be merged by two or three banks, such as the Agricultural Bank of China and the Industrial and Commercial Bank of China, and submitted to a school or used for visas. This is also possible, but the account names should be consistent.