I am going for an all paid visit to Hungary. My bank account has around 600 EUR but I have additional 4400 EUR in my Recurring deposits and Mutual funds. Is it ok to show those ? Or should the minimum balance be in my savings account ?

Note: These savings are not last minute funds, they are saved everymonth from my salary account into the same account deposit

This is excluding my flight and accommodation which is taken care of already!

  • Presumably any evidence in support of your financial position is helpful, as long as the source of the assets can be verified. Look at the tag I added. – phoog Aug 6 '16 at 5:06
  • Yes! The saving amount is saved from my salary every month from the same account. Just that I cannot withdraw immediately as these are deposits now. – RishiB Aug 6 '16 at 7:32
  • It's fine to show your savings whatever accounts they are in. If you start shuffling your money around right before you apply for the visa, it may look like you've received a loan to pad your bank balance for the purpose of your visa application and you could be refused on that basis. So I would not make any such transfers. – Zach Lipton Aug 6 '16 at 7:48
  • No.No shuffling. I will show what I have. – RishiB Aug 6 '16 at 8:45

What you need is a stable financial situation at home. Almost any last-minute movement of funds is going to make your situation look unstable or unclear, especially if there is no clear explanation. (This answer talks about the UK, but the principle is the same.)

  • Somebody has to pay for your cost of living, insurance, etc. while in Hungary. 600 EUR is not enough, so you need to document why somebody else would pay for you.
  • A steady income is almost more important than the balance, since it shows your integration into the local economy.
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  • The 4400K saved is out of my steady income per month and not in bulk. So every month some money goes into salary, isn't that good ? – RishiB Aug 6 '16 at 7:27
  • Steady income is good, but I cannot tell if it is enough. A programmer can earn more than 50000 EUR a year in Europe, so the visa official will ask: "What will make him return to India after the competition? Is there anything to draw him back home?" – o.m. Aug 6 '16 at 15:21
  • I'm showing self employment registration and also letters and receipts from employers. Will that help? – RishiB Aug 6 '16 at 15:56
  • Also it's a fully sponsored trip on invitation – RishiB Aug 6 '16 at 18:49

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