When students apply for a study visa, the New Zealand Immigration Department requires international students to submit a study guarantee deposit certificate. This is to ensure that international students can maintain a normal standard of living during their studies in New Zealand and successfully complete the academic courses they applied for. How much is the deposit for studying in New Zealand for a master's degree? What are the forms of deposit for studying in New Zealand? Let’s take a look at it next. New Zealand Master's Study Abroad Deposit

Usually a deposit of 150,000 is required per year. If your IELTS score is not enough and you need to take language classes, you will need to add a deposit of 150,000. For example, students applying for a two-year language master's degree need to provide a guarantee of 450,000 yuan. Form of deposit for studying in New Zealand

1. The deposit does not need to be handed over to anyone, just deposit it in the bank. The deposit can be in the name of the student or a guarantor (such as a parent).

2. Open a special deposit account for international students at CITIC Bank, remit tuition fees and living expenses in one go, at least RMB 150,000 per academic year, and then deduct tuition fees from it. After living expenses arrive in New Zealand, a fixed amount of money will be paid to the applicant every month until the end of the academic year. Fund’s margin requirements:

1. Bank deposits exceeding 6 months do not require an explanation of the source of funds.

2. If the bank deposit is less than 6 months, the source needs to be stated. For example, after the house is sold, the money is transferred to deposits, or you bought some financial products before and now they are transferred out. As long as the source of funds can be explained, no deposit is required for 6 months.

3. Students who cannot meet the 6-month deposit period and cannot explain the source of bank funds can apply for a special account for New Zealand international students, which can also be used as a guarantee. However, the money in this account can only be used for studying abroad and cannot be withdrawn for other purposes.

Processing of New Zealand Study Bank Deposit Certificates

Chinese citizens study abroad at their own expense, immigrate abroad, visit relatives, travel abroad, etc. , the applicant can issue a deposit certificate to the bank with his or her deposit certificate and passbook issued by the Bank of China.

The certificate is generally valid for 3 months, during which the deposit will be frozen. If the original certificate of deposit is returned to the bank within 3 months, the bank will unfreeze the deposit. If a customer requests a replacement certificate of deposit during the freezing period, the time and content must be consistent with the original certificate of deposit. There is no limit on the number of deposit certificates, and banks charge handling fees according to certain standards. Certificates of deposit can only be issued in the original currency and no exchange of one currency for another is allowed. Depositors can entrust others to handle deposit certificates. When applying for a deposit certificate, please present your valid ID.