To be eligible to apply for a Schengen visa from India, one of the most important requirements is showing you have enough financial resources to cover your travels.
The most common way to show you have the required funds for a Schengen visa is to submit copies of your bank statements or bank balance to the embassy or consulate. As such, you prove to the embassy or consulate that all costs are covered by you (or a sponsor) but also that you have ties to your home country, e.g., you are employed or own a business.
How Much Bank Balance Is Required When Applying for a Schengen Visa in India?
The funds you need for your Schengen visa change depending on the country you want to visit, as listed below:
Austria
The Austrian Embassies and Consulates of the country abroad do not openly stipulate the required amount of financial means you need when applying for an Austrian Schengen visa from India. As such, the requirement of the bank balance you need for an Austria visa is regulated on an individual or case-by-case basis.
However, you are generally advised to account for at least EUR 100 (equivalent to INR 8,682.48)* per day, as this is the average amount of money a tourist spends in Austria.
Belgium
To receive a Belgium Schengen visa in India, you need to have a minimum of EUR 95 (equivalent to INR 8,248.36)* to spend in a day if you are staying at a hotel or other similar accommodation.
If you are staying with a friend or family member, you need to provide a letter of guarantee stating that your host will shoulder all the financial costs related to your stay in Belgium and prove that you have a minimum daily amount of EUR 45 (equivalent to INR 3,907.12)* to spend in Belgium.
Czechia
The amount of money you need to obtain a Schengen visa for Czechia in India varies based on your length of stay in the country as follows:
- For stays less than 30 days — you need to prove to the Czech authorities in India that you have at least CZK 1,490 (equivalent to INR 5,328.82)* to spend in a day while you stay in the country.
- For stays longer than 30 days — you need to prove that you have 15 times the minimum required amount, which is CZK 44,700 (equivalent to INR 159,864.61)*. For any additional stays beyond 30 days, you must also prove that you have an additional amount of CZK 5,960 (equivalent to INR 21,315.28)* per each month.
- Individuals under 18 — must submit half of the required amounts based on their length of stay.
Denmark
When applying for a Denmark Schengen visa from India, the Danish Alien Laws stipulate that you must have a minimum of DKK 350 (equivalent to INR 4,089.46)* per day to spend while you stay in the country. If you are staying in a hotel, the amount required is slightly higher at DKK 500 (equivalent to INR 5,842.09)*. In addition to this minimum amount of financial means, you also must provide proof that you have enough money to return home, in which case you submit proof of purchased return flight ticket.
Estonia
Agreeing to the information provided by the Ministry of Foreign Affairs of the Republic of Estonia, the required bank balance to obtain a visa for Estonia from India is a minimum of EUR 130.80 (equivalent to INR 11,356.68)* per day.
Finland
To receive a Schengen visa for Finland in India, you must be able to spend at least EUR 30 (equivalent to INR 2,604.74)* per day for the duration of your stay.
France
The general requirement for financial means to obtain a visa for France in India is to have at least EUR 65 (equivalent to INR 5,643.61)* per day.
Keep in mind that depending on your accommodation arrangements, the minimum amount required for a French visa changes as follows:
- If you are staying with a family member or a friend who invited you to France — you need to provide half of the minimum required amount, i.e., EUR 32.50 (equivalent to INR 2,821.81)* per day.
- If you have a hotel reservation— the general financial requirement is valid, i.e., EUR 65 (equivalent to INR 5,643.61)* per day.
- If you have a partial hotel reservation, e.g., a reservation for only a few days during your stay— you need to provide evidence that you have at least EUR 65 (equivalent to INR 5,643.61)* per day during those days your hotel reservation is valid, and for the remaining days with no hotel reservation, you need EUR 120 per day. (equivalent to INR 10,418.98)*
- For no accommodation at all — you must show the embassy or consulate you have a minimum of EUR 120 (equivalent to INR 10,418.98)* per day at your disposal during your stay.
Germany
For a German Schengen visa application from India, you’re generally required to provide proof that you have at least EUR 45 (equivalent to INR 3,907.12)* per day. Remember that the German embassy considers your circumstances for visiting the country, such as the length of stay, whether you’re staying with friends or family, the purpose of your visit, etc.
Greece
You need at least EUR 50 (equivalent to INR 4,341.24)* per day in your bank account to obtain a Greek Schengen visa from India. If you plan to stay in the country for up to five days, the required amount is raised to EUR 300 (equivalent to INR 26,047.44)* per day. In the case of minor visa applicants, these amounts are reduced by 50%.
Hungary
The required financial means for a Hungary visa in India is a minimum of 10,000 HUF (equivalent to INR 2,079.70)* per day. This amount serves only as a reference number, and if you can provide proof that you have more than the required amount to spend in the country, the higher the chances of having your visa granted.
Iceland
Anyone who wants to apply for an Iceland Schengen visa from India must prove they have at least ISK 8,000 (equivalent to INR 4,656.53)* per day. If someone else sponsors you, this required amount is halved to ISK 4,000 (equivalent to INR 2,328.26)* per day.
Generally, the total minimum amount required for your length of stay is ISK 40,000 (equivalent to INR 23,282.63)*.
Italy
The overall amount required for an Italy Schengen visa for stays up to 5 days for one person is EUR 269.60 (equivalent to INR 23,407.96)*, while for stays up to 10 days for one person, you’ll need EUR 44.93 per day.
As the number of days and number of visitors increases, the amount of financial means for an Italian visa changes as listed below:
| One person | Additional amount required for each additional applicant travelling with you. | |
|---|---|---|
| For stays from 1 to 5 days | EUR 269.60 (equivalent to INR 23,407.96)* (fixed amount) | EUR 212.81 (equivalent to INR 18,477.18)*(fixed amount) |
| For stays from 6 to 10 days | EUR 44.93 (equivalent to INR 3,901.04)* per day | EUR 26.33 (equivalent to INR 2,286.10)* per day |
| For stays from 11 to 20 days | EUR 51.64 (equivalent to INR 4,483.63)* (fixed amount), and EUR 36.67 (equivalent to INR 3,183.87)* (additional amount per day) | EUR 25.82 (equivalent to INR 2,241.82)* (fixed amount), and EUR 22.21 (equivalent to INR 1,928.38)* per day (additional amount per day) |
| For stays for more than 20 days | EUR 206.58 (equivalent to INR 17,936.27)* (fixed amount) EUR 27.89 (equivalent to INR 2,421.54)* (additional amount per day) | EUR 118.79 (equivalent to INR 10,313.92)* (fixed amount) EUR 17.04 (equivalent to INR 1,479.49)* (additional amount per day) |
Liechtenstein
If you are shouldering the costs of your visit to Liechtenstein, you must prove you have at least CHF 100 per day (equivalent to INR 8,792.56)* in your bank account when you apply for a Liechtnestein visa.
Latvia
Latvian embassies/consulates in India require you to provide evidence of a minimum of EUR 14 (equivalent to INR 1,215.55)* per day of stay if you want to receive a Schengen visa for latvia.
Lithuania
According to the Lithuanian Ministry of the Interior and the Ministry of Foreign Affairs, to obtain a visa for Lithuania, you must have a minimum of EUR 40 (equivalent to INR 3,472.99)* at your disposal per day during your stay in the country. You must also prove that you have enough financial means to return to your home country, i.e., purchase a return ticket.
Luxembourg
Since January 1, 2018, the amount of financial means required to receive a Luxembourg Schengen visa from India, is EUR 67 (equivalent to INR 5,817.26)* per day.
Malta
Malta representative offices in India require you to set out at least EUR 48 (equivalent to INR 4,167.59)* per day to get a visa to visit Malta. Even though this is the required amount to obtain the visa, you must be prepared to spend more than EUR 48 (equivalent to INR 4,167.59)* in India as some activities and attractions can be costly.
Netherlands
Official authorities stipulate that to obtain a Dutch Schengen visa from India, you must submit proof that you have at least EUR 55 (equivalent to INR 4,775.36)* to spend per day for the whole duration of your stay in the country.
Norway
To obtain a Norway visa in India, you need to submit proof of bank balance that you have a minimum of EUR 48 (equivalent to INR 4,167.59)* per day to spend in the country. If the Norwegian authorities determine that you do not meet the financial requirements, you may be denied entry into the country.
Poland
To receive a visa to Poland for stays not exceeding 3 days, you need to submit a minimum amount of PLN 300 (equivalent to INR 5,566.59)* for the overall stay. If your stay exceeds three days, you must submit proof of at least PLN 75 (equivalent to INR 1,391.65)* for each day of the planned stay.
If you are visiting Poland under any of the following circumstances, you need to provide evidence that you have at least PLN 20 or EUR 4.19 (equivalent to INR 371.11)* for each day of the planned stay:
- You are visiting Poland as a participant in a youth camp, tourist or sports event.
- Your costs for a visit to Poland are paid by someone else.
- You are visiting Poland to visit a treatment and sanatorium facility.
- You are visiting Poland on a working holiday visa.
Portugal
For a Portugal Schengen visa from India, you must provide proof that you have at least EUR 40 (equivalent to INR 3,472.99)* for each day spent in the country or a minimum amount of EUR 75 (equivalent to INR 6,511.86)* for each entry.
Slovakia
You must show that you have at least EUR 56 (equivalent to INR 4,862.19)* to spend per day to get a Slovak Schengen visa from India. According to the Slovak Ministry of the Interior, this required amount will cover the following expenses while you are in Slovakia:
| Category | Amount |
|---|---|
| Accommodation | EUR 30 (equivalent to INR 2,604.74)* |
| For food expenses | EUR 19 (equivalent to INR 1,649.67)* |
| Spending money | EUR 7 (equivalent to INR 607.77)* |
Slovenia
If you want to visit Slovenia with a Schengen visa, you need to show proof that you have a minimum of EUR 70 (equivalent to INR 6,077.74)* to spend every day during your stay in the country. For minors, this amount is halved to EUR 35 (equivalent to INR 3,038.87)*.
Spain
The required amount of money you need to present to a Spanish embassy or consulate in India for your Spain visa is regulated by the Ministry of the Presidency of Spain (PRE/1282/2007) and is set at a minimum of EUR 100 (equivalent to INR 8,682.48)* per day, with a minimum of EUR 900 (equivalent to INR 78,142.31)* per person regardless of the intended duration of the stay.
Switzerland
When you apply for a Swiss Schengen visa in India, you must attest that you have a minimum requirement of CHF 100 per day or EUR 92.34 (equivalent to INR 8,792.56)* for the duration of your visit — provided you are covering the costs of your travels on your own.
The minimum requirement for students who want to visit Switzerland is lowered to CHF 30 or EUR 27.70(equivalent to INR 2,637.77)*.
Sweden
According to the Immigration Authorities in Sweden, all foreigners who want to enter the country with a Sweden visa must show proof that they have a minimum of SEK 450 or EUR 48.26 (equivalent to INR 3,593.90)* to spend per day for the duration of their stay.
*Currency exchange rate as of December 2022.
Can I Get a Schengen Visa Without Bank Statements?
Bank statements are usually a mandatory requirement by the Schengen embassies/consulates in India and cannot be omitted. Your visa is at a higher chance of being rejected if you do not provide your bank statements along with other supporting documents showing that you have sufficient means.
However, if you do not have the financial means to support yourself, you may also submit proof of third-party financing, in which case you’re exempt from submitting your bank statements:
- Scholarship financing. If you are visiting the Schengen area for a trip that a third party finances, you need to submit proof that financial support. This could be financial support from non-governmental organisations, an educational institution, or municipal financial assistance.
- Guarantee of support. If a friend or family member abroad is supporting you financially for your trip, you need to provide that person’s bank statements in addition to a letter from the person in question stating that they will cover your travel expenses such as transportation, accommodation, and other expenses.
How Old Can Bank Statements Be for a Schengen Visa in India?
Your bank statements must be from the last three to six months, and they must be issued by the bank, signed, and stamped by the financial institution. You should obtain your bank statements at least three to four days before submitting your application.
Some embassies/consulates require you to obtain your bank statements a minimum of a week before applying for your visa.
Which Bank Statement Is Required for a Schengen Visa in India?
You need a bank statement issued from your current bank which shows your detailed transactions in the last three to six months, including your income. To obtain this bank statement, you must visit your local bank in India and ask them to print out a copy and have them sign and stamp it. Please do not print out the bank statement at home, as it will most likely not be accepted.
Depending on your financial situation, you can submit the following types of bank statements:
- Bank statements from your main account and your savings account.
- Bank statements from joint accounts, e.g., if you have joint accounts with your partner.
Is an Online Bank Statement Valid for a Schengen Visa?
Usually, paper bank statements retrieved at your financial institution are required, and online statements (e-banking) are not valid.
However, depending on the country, some embassies may accept online statements, especially if, for some reason, a paper statement is not available at the time of the visa application.
Can I Apply for a Schengen Visa From India If I’m Unemployed?
You can still apply for your Schengen visa if you are unemployed— provided you can prove you have enough financial resources to support yourself even without employment.
In most cases, you need a sponsor, either a friend or family member, who can declare they will support you financially as you visit the Schengen area.
Can I Apply for a Schengen Visa From India If I’m a Freelancer/Self-Employed?
If you are a freelancer or self-employed applying for a Schengen visa from India, you still need to submit your bank statements for your visa application. If you own your business, you must also include proof that your business is a registered entity (e.g., business license) and your business bank statements from the last six months.
If you have clients for which you freelance, you can include your client contracts. Either way, it’s important to submit supporting documentation that shows you are receiving an active income as a freelancer.
Can I Apply for a Schengen Visa From India If Someone Lends Me the Money?
If you want to borrow funds to finance your trip to any of the Schengen countries, you must make sure the financial means are deposited in your account for a while— usually, embassies may require three months’ time. Otherwise, as stated previously, someone else can sponsor you financially for the visit.
Are Minors Required to Show Their Bank Balance?
Minors who are financially supported by their parents, or other legal guardians, must include the bank statements of the person in question in addition to a letter of sponsorship. This is to show that the minor applicant is financially supported by another person who has the funds to finance their trip to a Schengen country.
Does the Embassy Check Bank Statements?
The embassy will check the bank statements you provided for your Schengen visa application, but they do not have access to confidential information from your bank. But, if they suspect the statements you provided may be false, they may require a confirmation from the bank that those statements are valid and genuine. Sometimes, they will simply reject your visa application without asking for bank confirmation.
How Much Money Do I Need If I’m Applying for a 5-year Multiple Entry Schengen Visa?
If you are issued a five-year multiple-entry Schengen visa, you can only stay in the country for 90 days within 180 days. This means you must show proof of financial means for this allotted time when you initially applied for the visa. Afterwards, you may be asked to show proof of financial means any time you enter the Schengen Zone during the validity of your 5-year visa.
Do I Need to Show My Bank Statements for a Schengen Medical Visa in India?
All types of Schengen visas require bank statements, including a medical visa. In the case of a medical visa, you are required to provide documents that show you have enough money to cover your medical treatments. If anyone else or another organization is covering your medical expenses, you must provide official proof that the organisation/individual in question is financially supporting you.
Keep in mind that if a governmental body in your country is covering your medical expenses, you also need to provide an official letter from that institution stating they will pay for your medical expenses.
Related Information for Indian Citizens
- What Are the Schengen Visa Requirements for Indian Citizens?
- Europe Entry Requirements for Indian Citizens
- How to Apply for a Schengen Visa from India?
- How Do I Buy Schengen Health Insurance from India?
- How Much Does a Schengen Visa Cost for Indian Passport Holders?
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