Fancy that degree from a British university or planning to apply for work in the United Kingdom (UK) be prepared to spend more as the UK has raise monthly maintenance cost for student and work visas from New Year. 

Starting in January 2025, individuals from India who plan to study or migrate to the United Kingdom will need to demonstrate at least 11 percent more in financial reserves than the current requirements. The change follows the UK government’s decision to increase financial thresholds for study and work visa applicants in response to concerns about the impact of immigration on housing and the economy. 

The updated financial guidelines available on the UK government website outlines the new requirements applicable for those applying to study or work in the UK. 

Requirements for students 

From January 2, international students applying for UK study visas will need to show evidence of sufficient funds to cover living expenses: 

For a one-year master’s programme, this amounts to a total of £13,347 (Rs 14 lakh) in London and £10,224 outside London, covering nine months of expenses. These funds must be held for at least 28 consecutive days prior to submitting the visa application. 

Currently, the living expense requirements are £1,334 per month for London and £1,023 per month for other regions. However, students already living in the UK or those from certain countries are exempt from these updated requirements. 

Skilled Worker Visa requirements 

Skilled workers applying for the first time must demonstrate an income of at least £38,700 to cover living costs and accommodation. They must also have sponsorship from a UK employer approved by the Home Office. Applicants not sponsored by an employer will need to show that they have held the required funds for 28 days prior to applying. 

Hike in fees 

Visa application fees will see minor increases across various categories, including tourist, family, spouse, child and student visas. However, exemptions will remain for applicants with disabilities, carers and those working in specific sectors such as healthcare, the armed forces, and certain talent-based roles. 

28-day rule 

The UK government has also mandated a new 28-day rule. Under this rule, applicants must ensure that the required funds have been in their account for at least 28 consecutive days without falling below the required amount. The closing balance must not be more than 31 days old on the date of the visa application submission. 

The 28-day period is calculated backward from the closing balance, which should match the date of the online application submission. Funds held in a bank account or certified in a letter must meet these conditions.