How This Calculator Works

The calculator uses visa-specific proof of funds standards to produce a minimum figure. For F-1 applicants, the baseline is your Cost of Attendance minus confirmed scholarships. For B1/B2 applicants, it is a per-person monthly estimate multiplied by your planned stay duration. For immigrant routes, it uses USCIS-published poverty guideline supplements per household size.

Every figure recalculates instantly as you adjust inputs. The naira conversion uses whatever rate you enter, so you can update it to today’s parallel market rate and get a current picture of what you need to have sitting in your account.

What Proof of Funds Actually Means

Proof of funds is evidence that you have enough financial resources to cover your costs in the US without needing to work illegally or become a public charge. It does not mean you will spend all of it. It means you can demonstrate access to it at the time of your application.

The distinction matters. Many Nigerians arrive in the US and find work, scholarships, or family support that covers most costs. But at the visa interview, the officer does not know that yet. The bank statement you present has to tell the story on its own.

Proof of Funds by Visa Route

F-1 Student Visa

The standard here is the most specific. Your school publishes a Cost of Attendance figure on your I-20, covering tuition, fees, housing, food, books, and personal expenses for one academic year. You need to show you can cover that full amount for at least the first year. If a family member is sponsoring you, their bank statements plus a notarized affidavit of support must accompany yours.

Typical range: $22,000 to $65,000 for the first year depending on the school and city. Private universities in major cities sit at the higher end. Public schools in lower-cost states (like Texas or Georgia) sit closer to $22,000 to $35,000.

B1/B2 Visitor Visa

There is no published minimum for visitor visas. Consular officers use judgment. The general expectation is that you can support yourself comfortably for the duration of your stay without working. A conservative planning figure is $2,000 to $3,500 per person per month. For a 3-month visit, that means showing at least $6,000 to $10,500 for a solo applicant.

More important than the exact amount is your overall financial profile: consistent income, a stable account, ties to Nigeria, and a clear reason for the visit. The funds figure alone does not win you the visa.

H-1B Work Visa

H-1B applicants typically do not face a formal proof of funds requirement because they have a job offer. The employer petition demonstrates financial adequacy. However, consular officers may ask about your personal financial situation, and having some savings documented does not hurt. The tool estimates a 3-month personal buffer as a planning baseline.

Green Card (Immigrant Visa)

For family-sponsored and employment-based immigrant visas, the sponsor must file an Affidavit of Support (Form I-864) proving their income is at least 125% of the Federal Poverty Guidelines for the household size. This is the only route with a legally defined minimum. As of 2024, that floor is approximately $24,000 for a household of 2, rising by roughly $5,400 for each additional person.

Table of Truth: Sample Requirements

What Documents Support Proof of Funds

Bank Statements

Six to twelve months of statements from a Nigerian bank account are the most commonly submitted documents. The account should show a history of regular inflows and a consistent balance. Accounts that are barely used and then suddenly receive a large transfer look suspicious. Most consular officers know this pattern well.

Fixed Deposit or Investment Account Statements

A fixed deposit certificate that confirms the amount, maturity date, and institution adds credibility, especially when paired with a regular current account. It shows long-term savings discipline, not just a one-time balance.

Sponsor Documents (if using a third-party sponsor)

You will need: a signed sponsor letter, 6 months of the sponsor’s bank statements, proof of the sponsor’s income (pay slips or tax returns), and a notarized affidavit of financial support. For F-1, if the sponsor is in the US, the school may also ask for a signed I-134 or similar declaration.

Employment Income Letter

A letter from your employer confirming your salary, employment status, and leave approval strengthens your overall profile. It is not a standalone proof of funds document, but it supports the narrative that you have sustainable income beyond a one-time savings balance.

Realistic Scenarios

Scenario 1: Solo F-1 Applicant, University of Houston

Chiamaka is applying for F-1. Her I-20 shows a Cost of Attendance of $28,500 for the year. She has a $3,000 merit scholarship confirmed in writing. Her net proof of funds requirement is $25,500. At N1,620 per dollar, she needs to show approximately N41.3 million in accessible funds. Her father sponsors her: 6 months of his domiciliary account statements, an affidavit, and Chiamaka’s personal savings of N8 million together make up the package.

Scenario 2: Couple, B1/B2 Visitor Visa, 2 Months

Dayo and his wife Kemi want to visit their son in Maryland for 2 months. The calculator estimates $2,500 per person per month, so $10,000 total. At N1,620, that is N16.2 million. They each show 6-month statements from their accounts: Dayo’s shows N6 million average, Kemi’s N5 million. Their son has also written a letter confirming accommodation, which reduces the expected daily spend significantly.

Scenario 3: Family, EB-2 NIW Green Card

Dr. Seun is petitioning for an EB-2 NIW with his wife and one child, making a household of 3. The sponsor (himself, once he has an income offer) must demonstrate 125% of the poverty guideline for a household of 3, which is approximately $29,000 per year as of 2024. His attorney’s I-864 filing package covers documented employment, income evidence, and tax returns. The funds requirement here is structural and legal rather than a simple bank statement question.

Common Questions

Is proof of funds the same as the visa fee?

No. The visa fee (MRV fee, SEVIS fee, USCIS filing fee) is money you pay and is gone. Proof of funds is money you show you have. You do not pay it to the embassy; you prove it is in your account.

Can I use a joint account with my spouse?

Yes, joint accounts are acceptable as long as both names are on the account. Include statements for both parties and clarify the account structure in your cover letter if needed.

My savings are in naira. Does it count?

Yes. Nigerian naira bank statements are acceptable for US visa applications. The consular officer converts the balance to USD using an approximate rate. The funds do not need to already be in dollars, but having some domiciliary (dollar) account balance alongside naira accounts can strengthen the profile.

Does a property or land count as proof of funds?

Generally no, not for immediate proof of funds purposes. Real estate is illiquid. Consular officers want to see cash or near-cash (fixed deposits, savings, stocks with clear value). Land and property can help demonstrate ties to Nigeria but do not typically substitute for liquid funds.

What if my sponsor’s income is in another currency?

That is fine. Income in GBP, EUR, CAD, or USD from a sponsor working abroad is acceptable. Include their employment contract or payslips and convert to USD for the affidavit. A letter from their employer confirming the salary and employment status helps.

How far back should my bank statements go?

Six months is the typical standard. Some applicants go back 12 months to show a longer track record, especially if the balance was lower earlier and has grown over time. Longer is generally better if the history is clean. Shorter is riskier if the balance only appeared recently.

Does a scholarship reduce my proof of funds requirement?

Yes, if it is confirmed and comes from the school. A formal award letter stating the scholarship amount and terms reduces the net cost you need to cover. The I-20 from the school sometimes already reflects the scholarship-adjusted CoA. Check whether your I-20 figure is pre- or post-scholarship before entering it.

Disclaimer

This calculator is an estimation tool based on publicly available US government guidelines and general consular practice as of 2024 to 2025. It does not constitute legal or immigration advice. Proof of funds standards vary by consular post, individual officer judgment, and application circumstances. Requirements can and do change. Always verify the current standard at travel.state.gov, your school’s financial aid office (for F-1), or with a licensed immigration attorney before filing or attending an interview.