If I deposit twelve lakhs in my account as proof of living expenses for Singapore, can I use that same amount for my two years of study there?

No, depositing ₹12 lakhs (about SGD 22,000) is generally enough to show proof of funds for your first year of study in Singapore, covering both tuition and living expenses.

For your second year, you will likely need to provide updated proof of funds when renewing your Student Pass. The Immigration and Checkpoints Authority (ICA) expects you to demonstrate financial support for each year of your studies.

Plan to show sufficient funds for each year separately, as requirements are subject to change.