You must submit evidence of sufficient funds for maintenance during your stay in New Zealand including:
Financial Undertaking Form/s (If more than one guarantor).
Affidavit/s of Support from Guarantors (also stating the exact relationship of the guarantor with the applicant). The guarantor must provide the documents of evidence of their identity including date of birth, signature, and contact details including telephone numbers.
Authorization letter(s) from guarantors authorizing Immigration New Zealand to verify their financial documents on their behalf. If guarantors are outside India, the contact name and numbers/email addresses can be taken for verification by the Bank officials.
The students should provide evidence of funds upfront for courses for the first year inclusive of living expenses (NZ$ 15,000) in New Zealand. If the duration of the course is longer than one academic year, students should provide a plan of payment to show that they have access to funds and have the ability to meet the rest of the course cost and living expenses while they are studying in New Zealand.
The following evidence of funds can be accepted:
Education loan sanction letter from a nationalized or multinational bank only
Latest bank statements for the past 6 months. It should not be more than 1 week old at the time of lodgment of the application. Please ensure that statements and not balance certificates are provided.
Fixed Deposits. In case of providing fixed deposits as evidence of funds please ensure that a copy of the deposit along with a letter from the bank giving the details of the deposit is provided.
Public Provident Fund Accounts/Employers Provident Fund Accounts.
Post Office Accounts.
National Saving Certificates.
Acceptable Payment Plan
EPF or GPF accumulated over a period of 1 year
NSC’s due to mature in the following year
KVP’s due to mature in the following year
LIC due to mature in the following year
Funds Transfer Scheme
Immigration New Zealand has introduced a system wherein the students are able to choose to transfer their living expenses of 12 months to a bank account in New Zealand which will be in addition to paying a tuition fee for 1 year. The amount is deposited in the bank and is sealed for a year, and is then provided to the student on a prearranged basis.
The fund transfer option is available for the students who are genuinely intended to stay in New Zealand and do not have sufficient funds that are 6 months old. Here the student is made to transfer $15,000 to the NZ’s bank account through which the student is provided only $1,250 per month for his/her living expenses. Students who opt for this option find no need to verify any documentary evidence to demonstrate their source of funds.