Documentation
Fixed Deposits for Student Visa Applications
One of the most common ways Sri Lankan families demonstrate savings, and one of the easiest to get almost right.
A fixed deposit is one of the most familiar savings instruments in Sri Lanka, and for good reason it's also one of the most common ways families demonstrate funds for a student visa: the money is locked in, earning interest, and harder to dispute than a current account balance that moves around week to week.
What's needed from the FD
- The FD certificate itself, showing the depositor's name, amount and maturity date
- A bank-issued balance confirmation letter, issued close to submission
- Six months of the linked savings or current account statements, showing the account has genuinely been maintained
The auto-renewal clause
Many embassies specifically want the balance confirmation letter to include an auto-renewal clause, a statement that the fixed deposit will renew automatically rather than being available to withdraw on a fixed date. It matters because a visa can take time to process, and an FD that matures and pays out mid-application looks, on paper, like funds that could disappear before they're needed. Ask your bank for this clause explicitly when requesting the letter, it isn't always included by default.
Maturity date and your visa timeline
Where possible, avoid an FD that matures right in the middle of your expected visa processing window. If it can't be avoided, the auto-renewal clause becomes even more important, and it's worth mentioning the FD's status explicitly in your sponsor's cover letter so nothing looks like a gap.
Breaking an FD early has a cost, and a paper trail
If a fixed deposit needs to be broken early to fund tuition or a GIC, keep the bank's breakage confirmation alongside the original certificate. It shows the money's origin clearly and avoids what would otherwise look like an unexplained lump sum landing in a current account.
FDs are an asset, not income
It's worth separating this clearly in your own head before it's separated in the case officer's: an FD demonstrates savings you already have, it isn't evidence of income. If your file also needs to show regular income (a sponsor's salary, for instance), the FD and the income evidence are two different parts of the same file, not substitutes for each other.
Official sources
Visa and immigration rules change. This guide reflects our understanding as of the review date above, always confirm current requirements with the official source or with us directly before relying on it for your application.
Frequently asked questions
How old should a fixed deposit be for a student visa application?+
There's no universal minimum, but an FD that's been held for several months to a few years reads as more established than one opened just before applying. If a large FD was opened recently from a lump sum, be ready to show where that lump sum came from.
Can I open a new FD specifically for my visa application?+
You can, but the funds used to open it still need a credible source, salary savings, a property sale, or another documented origin. Opening an FD doesn't remove the need for source-of-funds evidence if the deposit itself was unusually large.
Does the FD need to be in the applicant's name or can it be the sponsor's?+
Either can work, provided it's paired with the right supporting documents, the applicant's own FD needs personal financial history, while a sponsor's FD needs the relationship and sponsor-letter documentation covered in our sponsorship guide.
Related guides
How to Prepare Bank Statements for a Student Visa
The most familiar document in the whole file, and still the one most often submitted wrong.
Student Visa Proof of Funds Explained
The single most common reason a student visa file stalls, explained in plain English.
How to Show Source of Funds for a Student Visa
Proof of funds shows the money exists. Source of funds shows where it came from, and that's what a case officer actually scrutinises.
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