Bank Statement vs. Bank Solvency Certificate

Question

I am a non-us resident seeking a visa for education and a number of universities ask for proof of funding, in the form of bank statements or solvency certificates, during admission. What exactly is a solvency certificate? Is it equivalent to a bank statement, especially with regard to establishing funding capability?

Answer 1

Federal immigration regulations require that all international students provide evidence of adequate funds to meet the financial obligations of enrollment at a U.S. university. The combined U.S. dollar amount must equal or exceed the minimum listed for the applied term.

Hence typically most universities ask for a Bank statement showing the funds in the account.

However some Universities also accept a Solvency Certificate.
A Solvency Certificate is a letter issued by the Bank saying that this person is a good customer of the bank capable of spending [taking obligation] money to Rs nnn/- . The amount is decided by the Bank based on its internal policies / judgement. At the time of issuing the letter the Account may or may not have the said Balance. For example an individual maybe be moving funds monthly to the tune of say Rs 1 lacs. Now he would definately be good for say Rs 10,00/- ... The Solvency letter does not mean that Bank have taken the obligation of paying funds ... it more like a credit worthiness letter.

If you are say a high networth individual, you may not want to give your Bank account statement [too much money there] and the Bank would be happy to issue you a Solvency Certificate. However if you a normal customer, Bank may refuse to give you a Solvency Certificate.