MS in US: Financial Document for i20

Congratulations for coming this far in the application process of your Master's program. All universities need a financial document to issue your i20 certificate. Many students take the loan to fund their master's studies but nowadays mostly universities do not accept the Loan sanction letters. They want to see the liquid assets in your account. For that, you have to submit a "Solvency letter" from the bank of your savings account. Which shows your assets in your native currency and USA dollars as well. If bank asks you for the letter format then you can submit a copy of this letter. I am giving you a standard format for "Solvency letter" by using which i got multiple i20s.

This is certified that Mr./Ms. <Your Name> is a customer of our branch maintaining his saving bank account Number <Your Account Number> with us. His/Her dealing with us is satisfactory.

The balance in his saving bank account as on date <Current date> is Rupees <Account balance> which is equivalent to US Dollar <US Dollar conversion> (<US dollar conversion in words>) approx as per today's rate 1US$=<1$ equivalent INR>.

This certificate is issued at the request of Mr/Ms. <Your name> without any liability on the part of the bank or any of its officials.

State Bank of India charged me INR 177 for this letter which is deducted directly from my account. Charges are different for every bank.

You can simply use google to check the current date dollar conversion. This certificate must be on the bank letterhead. I am attaching my Solvency letter photo for more clarity. Shoot your comment below if you have any query regarding the same.

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1 Comment

  1. Kumar Hitesh
    March 5, 2019

    Awesome content bro! Keep it up.