If you’re planning to study in New Zealand and have received your Unconditional Offer Letter, the next important step is to meet the financial requirements set by Immigration New Zealand (INZ). Showing the correct amount of funds, in an acceptable format, is essential for completing your admission and student visa process successfully.
This guide will help you understand how much money you need to show, acceptable sources of funds, sponsorship rules, and payment plan requirements for a New Zealand student visa.
The amount of funds you need to show depends on the duration of your course.
You must provide documentary evidence of:
Full tuition fees for the entire course
NZ$ 20,000 towards your living expenses in New Zealand
NZ$ 2,000 towards return airfare
Total funds required:
Tuition Fees + NZ$ 20,000 (Living Expenses) + NZ$ 2,000 (Airfare)
You must provide documentary evidence of:
Full tuition fees for the entire course
NZ$ 20,000 towards living expenses for the first year
NZ$ 2,000 towards return airfare
A payment plan to show that you will have access to funds for your living expenses for the remaining duration of your course while staying in New Zealand
To be accepted by Immigration New Zealand, your funds must meet the following conditions:
Your funds must be at least three months old at the time of submitting your visa application
You can show funds in the form of:
Balance in a savings bank account (minimum three months old), or
Fixed Deposits (FDs) that are at least three months old
Important: Even if your funds are older than three months, Immigration New Zealand may still ask you to explain the source of funds. Make sure you share clear source details along with your financial documents when submitting them to the Smile Foreign Education team.
You can use the following sources to show your funds:
PPF / PF / GPF – only the withdrawable amount
LIC policies – surrender value
Mutual fund investments (minimum three months old), liquidated and transferred to your savings account
Education loans, provided that:
The loan is a secured education loan
The loan sanction letter clearly mentions:
Collateral security details
Name of the collateral owner (must be an immediate blood relative)
Rate of interest
EMI amount
Loan duration
If your course duration is more than one year, you must also show a payment plan to demonstrate how you will manage your living expenses in the future. Acceptable payment plans include:
Form 16 or Income Tax Returns (ITR) of your sponsor, showing income and savings pattern
EPF or GPF, which will accumulate over your course duration
Fixed Deposits that will mature in the following year
Life insurance policies due for maturity in the next year
Immigration New Zealand allows sponsorship only from immediate blood relatives.
Your sponsor can be:
Parents
Grandparents
Siblings
Spouse
Only one sponsor is accepted
You must provide proof of income of your financial sponsor
Your education loan must be sanctioned by a Nationalised Bank or a Multi-National Bank
Loans from NBFCs, co-operative banks, or private finance companies are not accepted by Immigration New Zealand
You should avoid showing the following as proof of funds:
Agreement to Sale
Gold loans or proceeds from the sale of gold
Kisan Credit Card (KCC)
Loans from NBFCs, co-operative banks, or private financial institutions
Please also note:
Funds from the sale of property are accepted only if they have been held for at least three months
Land documents or property valuation reports are not accepted as payment plans
If your sponsor owns multiple properties, additional properties and their values may be considered under a payment plan, but not as immediate funds