Is fourteen lakhs mandatory for accommodation in Canada?
Yes, about Rs. 14 lakh, specifically CAD 22,895, is mandatory proof of funds for a Canadian study permit outside Quebec. This covers a full year of living costs such as housing, food and incidentals, on top of tuition and travel, and rises for families bringing dependants.
Yes, if you are applying for a Canadian study permit outside Quebec, you must show roughly Rs. 14 lakh (CAD 22,895) as proof of funds, but this figure covers your full year of living expenses, not accommodation alone.
What the Proof-of-Funds Amount Covers
| Item | Requirement |
|---|---|
| Base requirement (single applicant) | Approx. CAD 22,895 (about Rs. 14 lakh) for one year of living costs |
| Family of four | Approx. CAD 42,543 (about Rs. 2.62 crore, per the source) |
| What it covers | Housing, food and incidental expenses, in addition to first-year tuition and travel costs |
Accepted Ways to Show These Funds
- A Guaranteed Investment Certificate (GIC) from a participating Canadian bank.
- A student or education loan.
- A Canadian bank account in your own name, or recent bank statements.
- Quebec sets its own separate provincial financial guidelines, so this exact figure does not apply if you are studying there.
My Advice
Start your GIC or loan paperwork early, since processing can take a few weeks, and keep your bank statements and GIC certificate organised together in one folder so your study permit application is not delayed by a documentation gap.
How much will a month in Canada cost you?
Rent, food and travel. A real monthly budget, city by city.
More Cost & living questions
- What is the lowest undergraduate tuition fee I can expect to pay at a Canadian university for the 2026 academic year?
- How much would I pay in first-year tuition for the International MBA program at York University, Toronto?
- If I get an education loan, can I proceed with the application after the loan amount is clear?
- Is it better to spend 12 lakhs in India or go abroad for higher studies in Germany for a Master's?
- Does the agency provide end-to-end services including visa, loan guidance, and accommodation?
- Do I need to show living expenses in my bank account for visa purposes, and can I withdraw it after reaching Ireland?
- How do I get an education loan for an MBA abroad as an Indian student?
- Which is more suitable for my son's master's education: Dubai or the USA, considering cost, location, program variety, post-study work options, and pathways to permanent residency?
More Canada questions
- Other than Canada and Netherlands, are there better countries to study science and technology in Germany/Singapore?
- Which master's course suits a Supply Chain Management graduate planning to study in Canada?
- What are the options for pursuing a master's in psychology or clinical psychology given my bachelor's background in biology in Australia/Canada?
- Will there be any problems if I do my studies offline abroad given the education structure is different from India in Ireland/Canada?
- What should I do to improve my chances of going to Canada as a teacher?
- Which Sociology master's options in Canada suit a Sociology graduate with IELTS 7.5 for the January 2027 intake?
- What is the minimum budget required for studying abroad in Canada or Ireland for two years?
- What are the differences in career opportunities and PR options between Germany and Canada?