Australia Student Visa Financial Requirements from India (2026 Updated)

Ajay Choudhary
3 days ago
2 min read

Australia has updated proof-of-funds and financial capacity requirements for Indian applicants in 2026. With India moved to the highest risk category (Evidence Level 3) under the Simplified Student Visa Framework (SSVF), financial documentation scrutiny has increased, meaning applicants must show clear, genuine, and verifiable funds to satisfy visa requirements.

Australia Student Visa Financial Requirements from India (2026 Updated)

💰 1. Minimum Funds Required (Proof of Funds)

To apply for the Australia Student Visa (Subclass 500) from India in 2026, you need to show sufficient funds to cover:

Expense Category	Minimum Amount (AUD)	Approx. INR
Living expenses (12 months)	29,710 AUD	₹16.0 – 17.5 L+
Tuition fees (per year)	Varies (course-dependent)	₹10 – 25 L+
Travel (one-way/return flight)	2,500 – 3,000 AUD	₹1.4 – 1.65 L
Overseas Student Health Cover (OSHC)	600 – 1,000 AUD	₹35,000 – ₹60,000
Spouse (dependent)	10,394 AUD	₹5.5 – 6 L
Child (dependent)	4,449 AUD	₹2.4 – 2.8 L
School-age child’s education	13,502 AUD	₹7.5 – 8.5 L

📌 Note: AUD→INR conversion varies with exchange rate. These figures are indicative based on recent rates.

📌 2. What Funds Must Be Shown

When applying from India, your visa application must include:

✅ Funds for first year’s tuition fees (paid or available)

✅ Proof of living expenses (AUD 29,710+)

✅ Money for airfare & travel costs

✅ OSHC health insurance for the full duration

✅ Transparent bank statements, legitimate savings, or loan documents

🧾 3. Acceptable Evidence of Funds

To satisfy the Department of Home Affairs, you can submit any of the following:

✔ Bank statements (minimum 3 months showing consistent funds)

✔ Fixed deposits (FDs) or term deposits

✔ Education loan sanction letter from a recognized bank

✔ Sponsor’s ITR & income proof with relationship proof

✔ Scholarship award letters (if fully covering costs)

💡 Scholarship applicants must show that the award covers at least tuition and living costs — having additional buffer funds strengthens approval chances.

⏱️ 4. Financial Documentation Tips

Keep funds in the account for 3+ consecutive months before applying.
If funds come from education loans, include sanction letter + bank credit proof.
Provide tax returns (ITR) of sponsors for at least 1–2 years.
Include assets or property documents if applicable (not mandatory but helpful).

Australia Student Visa Financial Requirements from India (2026 Updated)

📊 5. Why These Requirements Matter in 2026

In 2026, Australia has tightened visa scrutiny for Indian applicants by placing India in the highest-risk category (Evidence Level 3) under SSVF. This means:

🔹 Financial documents are verified more deeply

🔹 Proof of funds must be clear and traceable

🔹 Mistakes or gaps can lead to S56 requests or visa refusal