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The Department of Home Affairs accepts education loan letters and bank statements from all scheduled commercial banks in India — including SBI, BOB, Canara, PNB, HDFC, ICICI, Axis, Kotak, Yes Bank, and IDFC First — as well as recognised NBFCs like HDFC Credila, Avanse, InCred, and Auxilo. The bank doesn't have to appear on a special 'approved' list, but the loan or savings instrument must be a transparent, scheduled-bank product with a clear sanction letter or 6-month statement.

From the May 2024 update, the primary applicant must demonstrate AUD 29,710 per year for living costs plus the first year's tuition fees and approximately AUD 2,000 in travel costs. For most one-year coursework Masters programs in India, that translates to a total fund proof of ₹35–50 lakhs depending on the university and city. Use the PSW calculator above to model the full degree cost plus return travel.

It covers every document Australian case officers expect to see: 6 months of sponsor bank statements, last 3 years of Income Tax Returns, CA-certified net worth statement, education loan sanction letter (if applicable), salary slips or business proof for sponsors, property valuation reports (only if you're showing immovable assets), and a Form 956A authorising EEC as your agent.

The PSW (Temporary Graduate visa, subclass 485) calculator uses the official duration matrix published by the Department of Home Affairs and the special bonus-year provisions for Indian nationals under the Australia-India ECTA agreement. It returns the standard PSW length plus any applicable bonus years based on your qualification level and where you study. Always confirm the final entitlement on the official Home Affairs website before lodging.

Yes. Sanction letters from recognised non-banking financial companies (HDFC Credila, Avanse, InCred, Auxilo, Prodigy, etc.) are accepted as long as the sanction is unconditional, names the applicant, and clearly states the disbursement amount. Many Indian families combine an NBFC loan with parental savings to meet the AUD 29,710 + tuition threshold.

No — unlike the UK's 28-day rule, Australia does not require funds to sit for a minimum holding period. However, the case officer will look for genuine liquidity: sudden large deposits in the days before lodgement raise credibility flags. Try to consolidate funds at least 3 months before the application and keep the source of every major credit clearly documented.