The Basics on Visas
 So you’ve been accepted as a student at a US academic institution, and you are on your way to obtaining a visa and beginning your journey.  Advance planning is very important, so make sure you understand and begin working on procedures on time.

Visa is a travel document called a visa which simply indicates that a consular officer has reviewed your application, and has determined that you are eligible to apply for entry for a specific purpose.
The appropriate time to apply for the visa is exactly 3 months prior to the start date of the course. Colleges usually admit students twice every year – September and January. If the college start date is 15 September, then you apply on or after 15 June and not before. If you apply closer to the start date, then chances of your visa getting rejected is high.  You are required to apply at the US Consulate in your current ‘State of Residence’ where you have been residing for the past six months or longer. For a US visa you will be required to face a personal interview and you will know immediately if your application is accepted or not. If the visa officer stamps your passport then your visa will be sent within 7 working days. Once you get the visa it will be valid for the duration of the course.  Plan your travel only on or after the date stamped on the visa and not before.

You will have many questions and we have simplified and arranged the information in a manner that can help you comprehend. The list of documents you require are also mentioned below. We suggest you read through this page thoroughly and make a check list of all that you require to put together. Also explore the links provided below for more details.

Visa process – a step by step guide

Soon after you Form I-20 from the school you want to study in, Steps 1 to 5 will guide you toward obtaining receipts for various fees to be paid and submitted along with other documents to the Visa officer. Step 6 will give you tips before your interview.

• Step 1:  I-20
• Step 2:  Pay SEVIS Fees
• Step 3:  Pay Visa Fees @ HDFC Bank
• Step 4:  Fill DS forms and book visa slot
• Step 5:  Prepare Visa documents
• Step 6:  Deposit the required documents at the VFS 5 (working days) days prior to the visa date
• Step 7:  Visa Interview

Step 1:  I-20
Once you are accepted to an SEVP approved school, your school will give you a document called Form I-20.  The Form I-20 is a paper record of your information in the database called SEVIS.  If you have applied to several schools, each school that accepts you will mail you a Form I-20.  You must select one school’s I-20, before you apply for your visa. Please check your Form I-20 against your passport information to make sure that your name and date of birth are accurate and spelt correctly.  If it is not correct, then please contact the official from the school who sent you the Form I-20.  Once you have your form I-20, you are ready for the next step, which is paying your SEVIS fee.

Step 2:  Pay SEVIS Fees
The SEVIS fee is required for all F and M students as well as J exchange visitors.  Paying your SEVIS fee is very important.  Without this fee, you will not be eligible to apply for a visa.  Make sure your Form I-20 information matches with your SEVIS fee form.  Applicants must pay the SEVIS Fee before approaching the US Embassy for the interview.  And this is payable online at www.fmjfee.com.  The applicant needs to complete the online form and pay 200$ via the internet using a credit/ or debit card. An electronic receipt I-797 will be generated immediately. To allow adequate processing time, the fee must be paid at least three business days prior to the scheduled visa interview date. The payment will be recorded in the SEVIS System.  The fee must be paid on time to ensure that the payment can be deposited and recorded in SEVIS prior to the scheduled visa interview.  The interviewing consular officer will confirm that the fee has been paid by accessing SEVIS.  However, it is recommended that the paper I-797 or the internet generated receipt be brought to the visa interview.  Form I-20 has to be accompanied by the SEVIS fee receipt as proof of payment.  Log on to www.ice.gov/sevis for further information. (Also refer to SEVIS Fact Sheet).

Step 3:  Pay Visa Fees @ HDFC Bank
 You will need to submit a photocopy of the 1st page of your passport and pay equivalent to 143$ at the HDFC counter. This fee is not refundable. The fee receipt gets activated 2 working days from date of issue. Do not attempt to take an appointment until then. After you collect a receipt for the payment, you must appear for an Interview within 1 year (365 days) from the date of fee receipt from HDFC Bank.  The receipt is invalid if students do not appear for an interview within the same year.  The receipt is deemed as utilized once the interview has taken place, and cannot be used to make subsequent appointments. The students must check for appointment availability before paying the visa application fee and service fee (Service Charge: Rs.381/- which includes VFS’ service charge Rs 366/- & Bank service charge Rs15/- (inclusive of Service Tax @ 12% and Education cess Tax @0.36%).
If for some unforeseen reason you are unable to attend the visa interview and are absent you can contact the local VFS office and get the slip re activated by paying. Then you can re log in and take a fresh date.

Step 4:  Fill DS forms and book visa slot
Before proceeding to schedule your interview appointment kindly fill form DS 160. Print the confirmation copy containing CEAC Barcode number as the number will be required while scheduling your interview appointment. https://www.vfs-usa.co.in permits you to schedule an appointment online; however no partially completed applications will be stored online. If you do not confirm your appointment, the data entered by you will be immediately deleted. You will be required to re-enter your data when scheduling the next time.

Please have your passport, your HDFC fee receipt, CEAC confirmation barcode number, previous visa information (if applicable), and any other documents relevant to your intended travel to the United States ready and available for your reference, before you start the application process. Enter the information requested into the appropriate spaces in each window. Please answer all questions. Your answers must be in English and must use English characters. Review the information you entered for accuracy as data entered cannot be changed except the courier address after scheduling interview appointment. Print the Interview letter and the Guidance sheet. Applicants scheduled at Mumbai Consulate also need to print checklist of documents to be submitted.

Note: Recently there has been some confusion about the deadlines for pre-submitting documents at the U.S. Consulate General in Hyderabad. Please be advised that applicants in Hyderabad must submit required documents to VFS, 3 working days in advance of their visa appointment date or within 5 working days prior to the appointment date. Documents must be submitted in person, either by the applicant or by a representative on behalf of the applicant.  For example, if your interview is on a Friday, you are eligible to submit documents on the preceding Friday, or Monday or Tuesday before the interview. THERE WILL BE NO EXCEPTIONS TO THIS RULE. The VFS office accepts documents in person only from 8:00 a.m. to 1:00 p.m. and from 2:00 p.m. to 3:00 p.m., Monday through Friday, excluding Consulate General holidays. http://Hyderabad.usconsulate.gov/consulate-holidays.html

Step 5:  Prepare Visa documents

• Valid passport (valid for at least 6 months from the date of interview)
• Form I-20
• SEVIS fee paid receipt
• Visa application fee receipt
• Interview appointment letter
• Application confirmation page (with bar code)

Supporting Financial documents

• All financial support documents must be in English, or with an official translation into English from the bank attached.
• All bank statements and bank letters must be on bank letterhead and include the name of the account holder, account number, and specific amount of funds.
• Bank Loan is accepted
• An F-1 student may not act as a sponsor for a fellow F-1 student.
• Proof of Liquid funds to cover the Tuition fees and Living Expenses) Money for the first year education expense should reflect in the saving account.
  • Savings Bank Balance with a transaction history of at least six months.
  • Bank Loan( Education Loan)
  • Fixed Deposits
  • Provident Funds
  • LIC Policies
  • Bonds and shares
  • MIS
  • PPF
  • PF
  • NSC

Affidavit of support from Sponsors

• Affidavit by sponsors
• 3 years IT returns of Sponsor
• Proof of Fixed Assets ( Copies of the property documents)
• Certified CE (Chartered Engineer) Certificate
• Certified Chartered Accountant Certificate ( not mandatory) self annexure by government employees is also considered valid

Qualifications - Degree/Diploma certificates

• Transcripts (certificates/ marks cards from Class X to recent qualification)
• Proof of English proficiency if applicable (TOEFL)
• Standardized test scores if applicable (SAT, ATC, GRE, GMAT).
• Statement of Purpose
• Resume
• If working then the appointment letter and last salary slip.

Photograph – Size of picture should be 2 inches x 2 inches with white back ground.

Step 6:  Visa Interview
All students will be interviewed by the visa officer at the US Consulate. The visa officer may pose questions related to their past qualification, on why they want to study abroad, on their future plans and goals, on family background, etc.,  to determine students’ genuine intention.  
Here are some hints for the interview that you should know.
All students should

• Be well prepared and well informed about the University, program of study, costs, ongoing research in the respective departments; sum up your educational objectives.
• Be able to justify his/her choice of studying in the United States and how it would help in pursuing a career, back home in India.
• Demonstrate strong economic, social and cultural ties with one's home country.
• Be aware of the sponsors' (preferably parents) vocation, income and nature of work.
• Be well acquainted with one's educational qualifications, University, college and credentials from India.
• Finally be able to demonstrate that he/she has sufficient funds currently available to pay the entire first year of study, and that funds will be available for all additional years until the course of study is to be completed.

The visa officer looks for students who are honest (do not beat around the bush or cook up stories), well prepared (no parroting), motivated and confident (not over confident), spontaneous (spontaneity comes only when you are well prepared), articulate (does not mean you should speak in slang or put on an accent), clarity in communication, and project a positive body language (no nervous behavior like fidgeting, yawning, chatting, etc). A student should be able to justify as to "why he/she deserves to secure a student visa".

We have tried to answer Frequently Asked Questions by students here below.

When does one apply for the visa?
Students are encouraged to apply for their visa early to provide ample time for visa processing. The appropriate time to apply for the visa is 120 days prior to the start date of the course. Colleges usually admit students twice every year – September and January. If the college start date is 15 September, then you can start applying  for visa by June.
 

• Students should note that Embassies and Consulates are able to issue your student visa only if the differences in the visa apply date and the course start date on the I-20 is 120 days or less than 120 days in advance of the course of study registration date. If you apply for your visa more than 120 days prior to your start date or registration date as provided on the Form I-20, the Embassy or Consulate will hold your application until it is able to issue the visa. Consular officials will use that extra time for application processing.

• Students are advised of the Department of Homeland Security regulation which requires that all initial or beginning students enter the U.S. 30 days or less in advance of the course of study start/report date as shown on the Form I-20. Please consider this date carefully when making travel plans to the U.S.

• A beginning student who wants an earlier entry into the U.S. (more than 30 days prior to the course start date), must qualify for, and obtain a visitor visa. A prospective student notation will be shown on his/her visitor visa and the traveler will need to make the intent to study clear to the U.S. immigration inspector at port of entry. Before beginning any studies, he or she must obtain approval for a change to Exchange Visitor status, filing Form I-539, Application for Change of Nonimmigrant Status and pay the fee. Also you must submit the required Form I-20 to the Department of Homeland Security office where the application is made. Please be aware that one cannot begin studies until the change of classification is approved.

• Continuing students may apply for a new visa at any time, as long as they have been maintaining student status and their SEVIS records are current. Continuing students may also enter the U.S. at any time before their classes start.

If your passport is going to expire in the next 3 weeks can you apply for the visa?
 Your passport should be valid for the following 6 months of course commencement

Where do you need to apply for the visa?
You are required to apply at the US Consulate in your current ‘State of Residence’ where you have been residing for the past six months or longer
There are 5 US Consulates in India and each visa section has a jurisdiction as noted below: 
U.S. Embassy, New Delhi:
States of Jammu and Kashmir, Punjab, Haryana, Himachal Pradesh, Rajasthan, Uttar Pradesh, Bihar, Uttarakhand, Bhutan, and the Union Territories of Chandigarh and New Delhi.
U.S. Consulate General, Chennai:
States of Tamil Nadu, Karnataka, Kerala and the Union Territories of Lakshadweep Puducherry, Andaman and Nicobar Islands
U.S.  Consulate General, Mumbai:
States of Maharashtra, Goa, Madhya Pradesh, Chhattisgarh, Gujarat, and the Union Territories of Daman and Diu, Dadra 
and Nagar Haveli.
U.S. Consulate General, Kolkata:
Arunachal Pradesh, Assam, Jharkhand, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim, Tripura, and West Bengal
U.S. Consulate General, Hyderabad:
State of Andhra Pradesh and Orissa

Are you required to face an interview?
For a US visa you will be required to face a personal interview .

How long does it take to get the visa?
At the personal interview and you will know immediately if your application is accepted or not. If the visa officer keeps the passport it means they will stamp your passport and your visa will be sent within 7 working days. Once you get the visa it will be valid for the duration of the course.  Plan your travel only on or after the date stamped on the visa and not before.  

Are you required to take a Health Insurance policy or medical check-up before or after the visa?
 It is a must to get a health insurance policy, it can be from India if the university permits or the university does the insurance or procedures for you and charges the amount mentioned on the admission letter. This is only done once the visa is granted.
The health check should mention the mandatory vaccines taken by the student right from his birth.
His chest clearance certificate can also be required by some universities. MMR, Tetanus and Hepatitis- A vaccine should be taken as precautionary method.

What is the amount of funds required to be shown for the visa?
 Tuition fee + standard living expenses defined by the university .
UG – Tuition fee for 2 years and PG – either 1 or 2 years depending on the course duration
You will need to calculate the amount based on country/ course/university guidelines.

Can you take any kind of loan for the visa (personal loan)?
Only properly sanctioned education loans are accepted.

How many days’ old funds can be shown?
There is no rule as such but it is advisable to show consistency in the funds and a stable financial position.

Can your Uncle (father’s friend) be considered as a sponsor?
Additional Sponsors should be avoided since they reflect an incapability of the parent to make his child study in the US. Thus, reflecting a weak financial status.

What kind of documents are required, if your sponsor resides in a different country?
A complete copy of his passport, proof of funds in his bank account either savings bank account or fixed deposit and ITR’s for the previous 3 years and an affidavit of support.

How many sponsors can a student have?

This has not been specified anywhere but it is always advisable to keep sponsors to as minimum as possible. Showing more than one sponsors shows your main sponsor’s financial capability as weak.

Can you show funds from any cooperative bank?
All the banks are accepted as long as they are authentic and the proof is genuine.

Can a student take his/her spouse along on the student visa?
Yes, you may take him/her on a dependent visa F 2

What is the amount of funds that need to be shown if one’s spouse is travelling along?
You will have to show enough funds to cater to a decent lifestyle while the spouse is in the US

Some additional information: 

If a student is away from classes for more than five months
Students within or outside the U.S., who have been away from classes for more than five months, will need a new visa to enter the U.S.

How long can one stay on a F-1 student visa?
When you enter the United States on a student visa, you will usually be admitted for the duration of your student status. That means you may stay as long as you are a full time student, even if the F-1 visa in your passport expires while you are in the United States. For a student who has completed the course of studies shown on the I-20, and an OPT, the student is allowed the following additional time in the U.S. before departure:

• F-1 student - An additional 60 days, to prepare for departure from the U.S. or to transfer to another school.

If one’s passport gets expired, but the visa is valid in the expired passport, will he/she be required to apply for a new visa along with the new passport?

No. If your visa is still valid you can travel to the United States with both your passports, as long as the visa is valid, not damaged

• The visa is the appropriate type of visa required for your principal purpose of travel. (Example: tourist visa, when your principal purpose of travel is tourism).
• Both passports (the valid and the expired one with the visa) should be from the same country and type (Example: both Indian regular passports, both official passports, etc.)
• when you arrive at the United States port of entry (POE) the Customs and Border Protection Immigration Officer will check your visa in the old passport and if s/he decides to admit you into the United States they will stamp your new passport with an admission stamp along with the annotation "VIOPP" (visa in other passport). Do not try to remove the visa from your old passport and stick it into the new valid passport. If you do so, your visa will no longer be valid.

The Basics on Visas
You have decided to travel to UK as a 'student' for which you need to apply for 'entry clearance' (Visa) before you leave India. The visa application process can take a long time so you should submit your application well before you wish to come to the UK to study.

It is very important that you apply for the visa as a 'prospective student', and not as any other kind of visitor. You will be expected to provide evidence that you have made contact with institutions in the UK, for example letters inviting you for interviews in the UK. 'Prospective students' can stay in the UK for up to six months to make arrangements for their studies.

If you intend to study for a maximum of 6 months, and do not wish to work during your stay, you can seek entry to the UK as a student visitor. Students who wish to study a course in English Language only, for a period of between 6 and 11 months, may apply for an extended student visitor visa. During this time, they may not work or bring dependants and must obtain a visa to enter the UK in this category.
As a Tier 4 (General) student, you must have 40 points in your point’s assessment for the visa. You can score:

• 30 points for having a valid confirmation of acceptance for studies, which you get for studying a course at an acceptable level with an approved education provider (also known as a 'Tier 4 sponsor'), and for having acceptable English language skills; and
• 10 points for having enough money (also known as maintenance or funds) to cover your course fees and living costs.

Visa process – a step by step guide

Step1: Procure offer Letter
Step 2: Obtaining a CAS
Step 3: Prepare visa documents and Applying for the visa

Step 1: Procure offer Letter
After applying to the university it will issue an offer letter which may be a conditional or unconditional offer letter. If it’s a conditional offer letter the applicant need to fulfil the requirements and then he will receive the unconditional offer.  The applicant needs to have unconditional offer letter to accept it.  Once the applicant accepts the offer letter, in return the University will issue a CAS letter with the CAS reference number which is unique for each applicant.

Step 2: Obtaining a CAS
Once you have been assigned a unique CAS reference number by the British High Commission you can apply for permission to stay in the UK as a Tier 4 (General) student. The unique CAS reference number is a secure and confidential document and is valid for six months from the date when it is assigned. If the student does not use it within this period to apply for permission to stay under Tier 4, it automatically becomes invalid.  A CAS can be used only once and cannot then be used again.

Step 3: Prepare visa documents

• Completed Visa application form
  • PBS Appendix 8 General Student self assessment form -  CASs assigned on or after 21 April 2011:http://www.ukvisas.gov.uk/resources/en/docs/1903073/PBSappendix8generalstudent1
    Application formVAF3A:http://www.ukvisas.gov.uk/resources/en/docs/1903073/vaf3a
• Visa application fee can paid in cash of Rs 19,150 or DD in favour of "The British High Commission" payable in Chennai
• Apply visa at the nearest VFS office - http://www.vfs-uk-in.com/contactus.aspx
• Valid passport (valid for at least 6 months from the date of interview)
• Photograph – Size should be 2 inches x 2 inches with white back ground
• CAS Letter or CAS Reference number
• Academic Certificates (only those specified on the CAS letter)
• Standardized test – IELTS / TOEFL
• Proof of Liquid funds to Cover the Tuition fees and Living Expenses
  • Savings Bank Balance, Fixed Deposit (28 days old funds)
  • Education Loan(in the prescribed format)

Note:

• All financial support documents must be in English, or with an official translation into English from the bank attached.
• All bank statements and bank letters must be on bank letterhead and include the name of the account holder, account number, and specific amount of funds.

Frequently Asked Questions

What is the points-based system?
The points-based system (PBS) is a system for managing migration for those wishing to enter the UK for work or study. Applicants intending to study courses other than English Language in the UK for more than 6 months will have to apply for their visa under Tier 4 (General) Student of the points-based system.  Tier 4 (Child) Student is for children between the ages of 4 and 17 to come to the UK. 

What is CAS?
A CAS is an electronic reference number which is issued to you by the institution (college or university) that you have chosen to study at. Your CAS will be valid for 6 months from the date that it was issued by your institution. You should only submit an immigration application once you are sure that you can also include all of the documents needed to meet the Tier 4 requirements. If you are applying for immigration permission to start a new course of study in the UK, you must not submit your application more than 3 months before the course start date. If you do, your application will be refused.

What happens if your application is rejected?
If your immigration application is refused, your CAS will be marked as USED by the UK Border Agency on their computer records. This means that you will not be able to submit a new immigration application using the same CAS number. If your immigration application is refused you will need to contact your institution and request a new CAS before applying again.
Note: Before submitting a new immigration application with a new CAS, you must make sure that you have also taken into consideration the reasons for your initial refusal. You may need to submit additional academic or updated financials as well.

How much is the visa fee?
All the visa application fees below are quoted in pounds sterling, but are payable in local currency.
These fees are effective for all visa applications made from 6 April 2011.

Can one get a refund?
A fee will be refunded only if the application is withdrawn in writing prior to any processing of the application and biometrics have not been taken, or if the applicant does not provide biometrics. Refunds will not be given if long-term visit visas are granted for less than the period applied for.
Fees are regularly reviewed.

How long does it take to process the visa?
Visa processing time might range from 1-2 weeks depending on when you applied for your visa. As the intake time approaches, the number of visa applications at the high commission also increases due to which the processing time becomes slow at times.

If the accommodation fee has already been paid, can this amount be deducted from the total money that needs to be shown when you make your Tier 4 application? Yes but only if you have paid your accommodation fees directly to your Tier 4 Sponsor, as stated in paragraphs 123-124 of the Tier 4 Policy Guidance. In order to deduct this amount from the total money you need to show as part of a Tier 4 application, you will need to provide a receipt for all accommodation fees already paid to your Tier 4 Sponsor. Alternatively your Tier 4 Sponsor may choose to include this information in your CAS.

However, if you have paid any accommodation fees directly to a landlord or to a private company, you are not able to deduct this from your maintenance funds. In this case you will need to show that you have additional money in your bank account to cover the full maintenance requirements as part of your Tier 4 application.

Can a student take his/her family along to the UK?
Yes, in certain circumstances. However the Immigration Rules have changed since 4 July 2011 which will affect those who want to take their families to the UK as dependants.

Visas are granted by the Australian Department of Immigration and Citizenship (DIAC). DIAC will only grant you a student visa if your course is registered, or is part of a registered course, on a full time basis. A registered course is one offered by an Australian education provider registered with the Australian Government to offer courses to overseas students.

 Only courses under three months’ duration can be undertaken on a visitor visa or working holiday visa. If you intend to study for more than three months, you must apply for a student visa.

The Australian student visa comprises of 8 subclasses, from 570 – 578.  Normally, Indian student going to Australia for further studies fall under 573 and 574 subclass. They can be for any of the following - Bachelor degree; associate degree; graduate certificate; graduate diploma; HE diploma; HE advanced diploma; masters by coursework; Masters by research and PHD. 

Visa process – a step by step guide

Step1: Procure offer letter + ECoe
Step 2: Apply for Visa
Step 3: Prepare visa documents

Step1: Procure offer letter + ECoe
You will need to obtain a Letter of Offer issued by your college for the course(s) you are undertaking stating the course, total tuition fees, duration and the course start date.
Once you receive the offer letter, you can pay your fee for the first semester or 1 year fees as per the requirement of the college, you will receive an electronic confirmation of enrolment (ECoe) for your full time course of study.

Step 2: Apply for Visa
You will have to apply for your visa at the nearest VFS office - http://www.vfs-au in.com/wheretoapply.aspx
Completely fill in the visa application form and  pay the visa fee of Rs 25300/ - by demand draft favoring ‘Australian High Commission’, payable at New Delhi. Also fill in the additional Information Form 1221.

Step 3: Prepare visa documents
Ensure you have all these documents ready before you head to the visa office.

• Electronic Confirmation of Enrolment (eCoE) along with OSHC
• Letter of Offer
• Original Passport (min 6 months validity)
• Copy of the passport (notarized)
• Four recent passport sized photographs (Light colored back ground)
• Statement of purpose (Original - Signed by the student)
• Academic Certificates (ORIGINALS)
• Copies Academic Certificates (notarized)
• Work Experience Certificate (on the original letter heads)
• Copies of the Work Experience Certificates (notarized)
• IELTS Score Card (ORIGINAL)
• Copy of the IELTS Score Card (Notarized)
• Evidence of Liquid Funds (See below)
• Evidence of Income
• Affidavit of Support by the Sponsors
• Student Affidavit, if the student is self sponsoring his studies in Australia
• Evidence of Relationship
• Documents of dependents included in the application- Birth Certificate, Marriage certificate and evidence of marriage (Photos etc.)
• If any of your dependents are 5-17 years of age (inclusive in the application), documentation confirming their enrolment in an Australian school and Under 18 Consent Form
• If the applicant is under 18 years of age you will have to show evidence that appropriate arrangements have been done for your welfare before you lodge your application.

Frequently Asked Questions (FAQ’s) below will further answer your queries on obtaining an Australian student visa. However visit the links below for in-depth information.

Is a medical check-up required?
Once you lodge your visa application form you will be informed about your health check to be done at the prescribed panel of doctors of the Australian High commission.

What is the Visa Process Time?
It can vary from case to case basis – generally four to twelve weeks.

Normally you need to apply for the visa 3 months prior to the course start date.  Any later will delay the visa or can even be rejected.

What are requirements for the grant of  Student (Subclass 570–576) visa?
To be granted a student (Subclass 570–576) visa, you must meet key requirements. These include your financial capacity, English language proficiency, likely compliance with the conditions of your visa and any other matters considered relevant to assessing your application.
There are 5 Assessment Levels for these evidentiary requirements.  Assessment Levels are prescribed according to the passport you hold and the education sector of your course. Assessment Level 5
has the most stringent requirements. 
To be granted a student visa, you must also satisfy the general requirements that are applicable to all student visa applicants.  General requirements include you being of good character and sound health, and having acceptable health insurance and no outstanding debts to the Commonwealth of Australia.
India is in assessment level 3 for the 573 subclass and assessment level 2 for the 574 subclass.

What are Financial Requirements?
Living and Travel costs are assessed as follows:-

For example, under Assessment Level 4 (AL4), financial sponsorship can only be provided from defined relatives which are limited to the applicant, applicant's spouse, applicant's parents, applicant's grandparents and applicant’s siblings. The applicant's uncle and aunt meet the definition only if they are an Australian citizen, permanent resident or an eligible NZ citizen and usually resident in Australia.
Joint accounts are acceptable only if all the account holders meet the definition of eligible sponsors.
Schedule 5A also specifies the period for which the funds or the savings history must be held for. This may vary depending upon the assessment level applicable to you.
Schedule 5A further qualifies that the regular income of any individual providing funds to the applicant should be sufficient to accumulate the level of funding being provided by that individual.
Assessment level and period for which funds must be held for
AL 2: No savings history required. 
AL 3: 3 months savings history from date of application is required.
AL 4: 6 months savings history from date of application is required.
Please note that the minimum balance in the relevant period is considered.

Assessment level and period for which funds must be shown for
AL 2: 12 Months + Declaration
AL 3: 24 Months + Declaration
AL 4: 36 Months + Declaration
Declaration on student visa application(Q41 ) that you have access to sufficient funds to cover the same costs for the remainder of your stay

Which are Institutions acceptable for funds and loans?
The Migration Regulations and Policy require that a financial institution must be an 'acceptable financial institution' for the purposes of a student visa to Australia.
The Migration Regulations require that a bank must be governed by the central bank of the foreign country in which it operates, for it to be acceptable.
The following are the list of acceptable financial institutions for India.

• Royal Bank of Scotland NV
• Andhra Bank
• Allahabad Bank
• AXIS Bank Ltd
• Bank of Baroda
• Bank of India
• Bank of Maharashtra
• Bank of Punjab Ltd
• BNP Paribas
• Canara Bank
• Central Bank of India
• Centurion Bank of Punjab Ltd
• Citibank
• Corporation Bank
• Dena Bank
• Federal Bank Ltd
• HDFC Bank Ltd
• Hongkong and Shanghai Banking
• Corporation
• IDBI Bank Ltd
• Indian Overseas Bank
• Indian Bank
• Ing Vysya Bank Ltd
• Indusind Bank Ltd
• ICICI Banking
• Jammu & Kashmir Bank Ltd
• Karnataka Bank Ltd
• Kotak Mahindra Bank
• NOVA Scotia Bank
• Oriental Bank of Commerce
• Punjab National Bank
• Punjab and Sind Bank
• South Indian Bank Ltd
• Standard Chartered Bank
• State Bank of India
• State Bank of Bikaner and Jaipur
• State Bank of Hyderabad
• State Bank of Indore
• State Bank of Mysore
• State Bank of Patiala
• State Bank of Saurashtra
• State Bank of Travancore
• Syndicate Bank
• UCO Bank
• Union Bank of India
• United Bank of India
• Vijaya Bank
• Yes Bank
• Bank of Rajasthan
• Barclays Bank PLC

What are acceptable sources for funds?
The most common sources of funds which are acceptable for the purpose of assessing access to funds for student visa applications are:
• money deposits held with an acceptable financial institution
• loans from financial institutions
Bank Loans from acceptable financial institutions
• Loans must be issued from an Acceptable Financial Institute (AFI) only. 
• A loan "in principle" is not acceptable.
• The loan sanction letter must be provided at the time of submitting an application and the loan disbursement letter is required before the visa is granted. We cannot grant a visa until the loan is at least partially disbursed. If the bank does not disburse the loan before visa grant then it is open to you to use another bank (AFI) that can meet your needs.
• Visa applicants are required to provide evidence of the family's income available to repay the loan. This income must be held by an acceptable individual.
• Visa applicants must provide the evidence of the collateral used to secure the loan and this collateral must be genuinely held by an acceptable individual.
• If collateral is made using funds other than regular income then the applicant must provide the trail of funds. E.g. sale deed can be provided as evidence if funds are obtained by sale of property. Please note that sale agreements are not acceptable. Only the registered sale deed is acceptable for visa purposes.
• Loans issued against fixed deposits, property, National Savings Certificate (NSCs) and Kisan Vikas Patra (KVP) are acceptable.
• Loan issued against life insurance, superannuation funds, gold, shares and Kisan Credit Cards (KCC) are not acceptable. Collateral owned by non-eligible sponsors is also not acceptable.
• Overdrafts are treated as a loan for visa purposes and must be provided in line with the above requirements.
• We only accept official, verifiable documents as forms of evidence.
Non-acceptable funds
The following financial instruments do not meet the regulatory requirements and thus are not able to be considered for visa purposes.
• Credit card 
• Kisan Credit Card (KCC)
• Shares and mutual funds
• Gold and jewellery 
• Bonds 
• Life Insurance Corporation (LIC) and other insurance documents 
• Kisan Vikas Patra (KVP) is not acceptable as funds. However, KVP as collateral is acceptable.
• National Savings Certificate (NSC) is not acceptable as funds. However, NSC as collateral is acceptable.

What are financial Instruments available in India
In India different types of financial instruments are available and they are characterized with different features such as the lock-in period. An overview of the type of funds which are acceptable and non acceptable for the purposes of student visa applications is provided below.

Money Deposits held with an acceptable financial institute
The following are the list of acceptable money deposits from Indian banks and post offices.
• Money deposit must be held with an Acceptable Financial Institute (AFI). The list of AFIs is available at http://www.india.embassy.gov.au/ndli/vm%5fstudyaus.html.
• Bank statements must be provided for the relevant period. Definition of relevant period depends upon your assessment level (AL). For example, for AL4 the statement must cover at least the last 6 months.
• The minimum balance is considered for the relevant period.
• Applicants must provide evidence that the sponsor holding the bank account has sufficient income to accumulate those funds or should provide the evidence by which he obtained the funds, for example, sale of property.
The following types of money deposits available with Indian banks and post offices are acceptable if they do not fall within the lock-in period.

The following provident funds are acceptable for student visa application.
Type of Provident funds, their locking period and the amount acceptable

What is the exchange rate used to calculate financial capacity for a student visa?
The exchange rates are reviewed every 6 months unless there are significant changes in exchange rates which warrant an earlier review. A review was recently undertaken and it has resulted in no change being made to the current exchange rates.