What is the Minimum Bank Balance for a Schengen Visa?

One of the first and most important things to do while organizing a vacation to Europe is to apply for a Schengen visa.

One of the main prerequisites, regardless of whether you're traveling for work, pleasure, or to see family, is evidence of enough financial resources, or, to put it another way, how much money you have in the bank.

A lot of candidates are unclear about what constitutes "enough." This blog explains the required paperwork, the Minimum bank balance for schengen visa from India, and how Visa2Fly can assist you steer clear of frequent financial documentation mistakes.

Why Does Bank Balance Matter for a Schengen Visa?

The consulate wants to make sure you can sustain yourself financially while visiting Europe without becoming reliant on the social or public resources of the host nation when you apply for a Schengen visa.

Your bank balance acts as proof that you can cover expenses such as-

• Accommodation
• Meals and daily expenses
• Local transportation
• Medical insurance
• Return flight tickets

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What is the Minimum Bank Balance for a Schengen Visa from India?

Since every Schengen nation establishes its own financial criterion, there is no one predetermined sum.

Nonetheless, a broad guideline is €45 to €100 per day of stay per person (Equivalent to ₹4,000 to ₹9,000 per day, depending on the exchange rate).

For a 15-day Europe trip, you should ideally show a bank balance of ₹1,00,000 or more. 

It is recommended to show at least ₹1.5–2 lakhs to comfortably meet the financial requirement and cover your entire itinerary.

Country-wise Minimum Daily Requirements (Indicative):

Note: Requirements may vary depending on your accommodation, travel duration, and purpose.

What Documents are Accepted as Proof of Funds?

The following documents must be submitted in order to meet the minimum bank balance requirements for a Schengen visa,

- Personal bank statements for the previous three to six months

- A signed cover letter outlining your financial situation 

- Income tax returns (ITR)

- Salary slips, if you have a job

- A sponsorship letter, if someone else is paying for your trip

- Travel cards, mutual funds, or fixed deposits (optional but useful)

Note: All documents must be on official letterhead, with clear transactions and a sufficient balance.

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Factors Affecting the Minimum Bank Balance for a Schengen Visa

Now that you have a general idea of how your funds are analyzed for a Schengen visa, it’s important to note that it is subject to change with several factors:

1. Duration of the Trip: It goes without saying that the longer the trip, the higher your budget, and your bank account must reflect it. 
2. Your Itinerary: As much as having a detailed itinerary important for your trip, it also affects the minimum bank balance requirement. Different Schengen countries have different travel expenses. For example, Germany might require approximately €45 per day, while France may require around €65 or even €120 depending on accommodation arrangements.
3. Travel history: A strong travel history, especially if you’ve travelled to the Schengen regions, can make your case flexible. However, it remains at the immigration officer’s discretion. 
4. Sponsorship: What better than getting a trip sponsor? If you’re lucky enough to find a sponsor from the Schengen regions, the whole concept of minimum bank balance for a Schengen visa applies to your sponsor’s bank account, and not yours.  

Common Mistakes to Avoid

 1. Joint accounts with unclear ownership. Make sure your name appears on the account or provide an additional explanation. 

2. Submitting only cash or FD documents. Consulates prefer liquid funds. FDs are helpful, but cannot replace a regular savings account. 

3. Unverifiable transactions, steer clear of submitting statements with large unexplained deposits. 

4. Low balance near your appointment date, keep your balance steady over three to six months, not just a sudden deposit.

How Visa2Fly Helps

We at Visa2Fly are aware of how perplexing financial paperwork can be. For this reason, Visa2Fly provides comprehensive document verification before submission to prevent errors or inconsistencies, interview help for countries that require in-person appointments, and personalized advice on the minimum bank balance needed to secure a Schengen visa.

Additionally, we provide a 100% refund if your visa is denied.

Conclusion

To conclude, an essential component of your visa application is your financial readiness.

The minimum bank balance required by Schengen visa regulations is not a set amount, although meeting it significantly increases your chances of being granted a Schengen visa.

The goal is to make the application process easy, clear, and stress-free. For that Visa2fly is here! Whether you're not sure how to present your financials or you just want professional assistance.

Check this out to learn common rejection reasons for a Schengen visa!