Do you know every year thousands of people apply for Australia PR Visa and only few gets selected? Yes, the average rejection rate of permanent residency application in Australia is 15-20%. The PR application can get rejected for various reasons. But, one of the main reason is Lack of Sufficient funds.
Proof of funds plays a significant role in your immigration journey, as it depicts the self sufficiency, demonstrate stability and avoid financial hardship for principle applicant, In this article, we’ll breakdown the real costs and proof of funds required for 2025. But, before moving ahead, let us understand the meaning of proof of funds.
What is Proof of funds?
The proof of funds is a legal document given by a bank or financial institution, which demonstrates, if an individual applying for PR Visa in Australia have sufficient funds to support themselves during their stay in country without facing any financial negligence.
The Department of Home Affairs, requires proof of funds for following reasons:
- Ensure Self Sufficiency: Immigrants can cover essential initial costs, which includes Housing, Food, Utilities and Transportation, without any dependence upon Government welfare.
- Easy Settlement: Financial backings helps candidates to adjust in the country more easily during their initial stage of job search process.
- Risk Managment: Minimising the chances of financial strains or early retur due to lack of resources.
Minimum Proof of Funds Requirements for Australia PR Visa
The Department of Home Affairs doesn’t officially publish the fixed proof of funds requirement for Australia PR Visa (Subclass 189, 190, 491, etc). Below, we have listed the lumpsum amount candidates are required to show in their savings, bank accounts, and liquid assets to avoid rejection chances.
| Family Composition | Recommended Proof of Funds (AUD) | Equivalent in INR (approx.) |
| Single Applicant | AUD 20,000 – 25,000 | ₹11 – 14 lakh |
| Couple (no children) | AUD 30,000 – 35,000 | ₹17 – 20 lakh |
| Couple + 1 Child | AUD 35,000 – 40,000 | ₹20 – 23 lakh |
| Couple + 2 Children | AUD 40,000 – 45,000 | ₹23 – 26 lakh |
What can be shown as Proof of funds?
Candidates can provide one or combination of following documents to demonstrate sufficient proof of funds for Australia PR Visa.
- Bank Statements: You can show last 3 to 6 months continuous transaction history.
- Bank Balance Certificate: It is an official document issued by your bank, confirming your current bank balance.
- Fixed Deposits: You can provide official FD certificates from a recognised bank, along with the letter of confirmation, demonstrating the availability of liquidation whenever needed.
- Letters of Loan Sanction: Official document from a lender, it should include details about th approved amount, interest rate, and repayment schedules for eduction or any other loan.
- Sponsorship Letter: A sponsorship letter from friend or family, confirming they will provide financial assistance, along with their financial capabilities.
- Income Tax Returns (ITRs): A document representing your income and financial status over time.
- Payslips: Proof of your current employment and income.
Other Costs Involved other than Proof of Funds
The proof of funds is not the only cost, which candidates ae required to bear, below we have listed other costs involved for Australia PR Visa.
| Expense Type | Approx. Cost (AUD) | Approx. Cost (INR) |
| Visa Application Fees | AUD 4,640 (Primary Applicant), AUD 2,320 (Spouse), AUD 1,160 (Child under 18) | ₹2.7L (Primary), ₹1.3L (Spouse), ₹65K (Child) |
| Skill Assessment Charges | AUD 500 – 1,000 | ₹28K – ₹55K |
| English Test (IELTS/PTE/TOEFL) | AUD 250 – 300 | ₹14K – ₹17K |
| Medical Exams | AUD 100 – 250 per person | ₹6K – ₹14K |
| Police Clearance Certificate (PCC) | AUD 20 – 30 per person | ₹1.2K – ₹1.8K |
| Travel Expenses | AUD 800 – 1,200 per person | ₹45K – ₹70K |
| Initial Settlement Expenses | AUD 3,000 – 5,000 | ₹1.7L – ₹2.8L |
Common Mistakes Applicants Make with Proof of Funds
Below, we have provided the breakdown of common mistakes candidate make with their proof of funds and how to avoid them.
Submission of Incorrect and Outdated Documents
Most applicants provide bank statements older than a month, along with incomplete statements and without official formatting.
How to Avoid:
Get recent bank statements from your bank directly, ensuring they are official documents, either printed or from their online platform. Ensure that the statements are clearly displaying your identity and financial history.
Displaying Borrowed Funds
Representing borrowed funds as your own, for example, from a short-term loan.
How to Avoid:
The money you present should be your own savings and show actual access to it. Borrowed money is not treated as proof of actual funds.
Not Holding Sufficient Funds for Long Enough
Placing money in your account at the last minute before you submit the visa application.
How to Avoid:
The funds must have been in the account for a specified period of time, typically at least three consecutive months, before you apply for the visa. This shows. that you have constant and consistent access to these funds.
Insufficient Funds
Having not enough money to cover the costs necessary, such as living costs and travel costs for the duration of your stay in Australia.
How to Avoid:
Verify the exact amount of money requirement of your specific visa subclass and ensure that you have the minimum amount that has been allocated, in your accounts. The Australian government adjusts and alters these requirements, so make sure to check the current figure.
Proof of funds plays a crucial role in your Australia Immigration journey. Therefore, it is mandatory for candidates to maintain their proof of funds accurately, to avoid any visa delay and rejections.
If you need assistance with the proof of funds, you can reach out to Keymart Visa, the Best Immigration Consultants in Delhi via +91 9911338722 or info@keymartvisa.com
