When I was planning my trip to South Korea last year, I spent days researching visa requirements — and one of the most important things I discovered was the need to maintain a minimum bank balance for the visa application.

While South Korea provides an eVisa to most nationalities (unless you’re eligible for a K-eTA), you still need to show a stable source of income and a sufficient bank balance, preferably maintained over the last six months. This serves as financial proof that you can comfortably fund your stay.

Getting a South Korean visa is now simpler than ever, with Atlys by your side. Our expert team guides you through every step of the process, ensuring your documents are complete, accurate, and the process is stress-free. 

What is the minimum bank balance required for a South Korea tourist visa?

For Indian passport holders (and most other nationalities applying for a short-term tourist visa), maintaining a minimum balance of USD 1,450 – 1,800 in your bank account is recommended.

If your trip exceeds two weeks, aim to maintain a budget of at least approximately USD 2,100 – 2,400. This amount demonstrates that you can support yourself during your trip, covering expenses such as accommodation, food, and local transportation.

To give you an idea:

• The average daily budget in Seoul and Busan is approximately USD 60 – 90.

• Jeju Island tends to be slightly more expensive due to limited local transport options and higher accommodation costs.

Maintaining a healthy and consistent balance across your last six months’ statements significantly improves your chances of visa approval.

Regardless of whether you are self-employed, a student, or applying with a sponsor, you must demonstrate that your finances are well-organised and sufficient to cover your trip.

Factors affecting the minimum bank balance requirement

While most travellers refer to a general range when estimating the minimum bank balance for a South Korea visa, the actual requirement can vary depending on several factors. The embassy assesses your financial situation holistically, not just the balance amount, to ensure that your funds align with your travel plans and lifestyle.

Here are the main factors that influence how much you should ideally maintain in your account:

1. Duration of Stay

The longer your stay, the higher the expected bank balance. For short trips (5–7 days), an amount of approximately USD 1,450 –1,800 is generally sufficient. But if you plan to travel for two weeks or more, you should maintain around USD 2,150 – 2,400.

For extended visits or multiple destinations within South Korea, consider keeping at least USD 3,000 to cover additional expenses.

2. Type of Accommodation and Travel Style

If your hotel bookings or itinerary suggest a more luxurious travel plan, the embassy might expect higher financial proof. Conversely, if you’re staying with friends, family, or in budget hostels, a moderate balance might be acceptable. It’s best to maintain funds proportionate to your travel plans to reflect authenticity and preparedness.

3. Number of Travelling Members

When applying as a couple or family, the total financial requirement increases. Each dependent should ideally have their portion of funds covered within the combined account balance. For instance, a couple applying together should maintain a safe range of around USD 3,600 – 4,200.

4. Source and Stability of Income

Embassy officials don’t just look at how much money is in your account; they also assess how consistently it’s been maintained. A stable monthly income, such as a salary or regular freelance payments, adds credibility. Sudden large deposits right before the application might raise doubts about the genuineness of your finances.

5. Supporting Documents

If your income and bank records are backed by strong documents, such as tax returns, salary slips, or business registration, the embassy may be more flexible even if your balance is slightly below the suggested range. On the other hand, a lack of proper documentation can make even a large balance appear unreliable.

6. Previous Travel History

Frequent travellers with a record of visiting countries like Japan, Singapore, or those in the Schengen region may face less scrutiny. A solid travel history often reflects responsible financial behaviour and can strengthen your visa case even if your balance is modest.

What documents are required as proof of financial stability?

You’ll need to submit specific financial documents based on your employment status. Below is a breakdown for different applicants:

1. If You’re Employed

• Last 6 months’ salary slips

• Last 6 months’ bank statements (preferably stamped and signed by the bank)

• Income Tax Returns (ITR) for the past 3 years (for Indian applicants) or tax return documents in general (for applicants of other countries)

• No Objection Certificate (NOC) from your employer (if applicable)

• Leave approval letter (optional but helpful)

2. If You’re a Freelancer

• Proof of your income for the last 6 months — this can include invoices, payment receipts, or contract summaries

• Bank statements clearly showing deposits matching your invoices

• ITR for the last 3 years to establish a consistent income (for Indian applicants) or tax return documents in general (for applicants of other countries)

When I applied for my South Korea visa, I was on a sabbatical. Since I wasn’t actively earning, I submitted my last 12 months’ salary slips from my previous employer, a letter confirming my sabbatical, and proof of my savings, investments, and ITRs. This combination worked well, as it demonstrated that I had sufficient funds even without current income.

3. If You’re Self-Employed or a Business Owner

• Company registration certificate or trade license

• Business bank statements (last 6 months)

• Company ITR for the last 3 years (for Indian applicants) or tax return documents in general (for applicants of other countries)

• Personal ITR and bank statements to show individual income stability (for Indian applicants) or tax return documents in general (for applicants of other countries)

• Any proof of ongoing projects or client contracts adds credibility

4. If You’re a Student or Dependent

• Sponsorship letter from a parent or guardian

• Bank statements of the sponsor (last 6 months)

• Proof of relationship (birth certificate, etc.)

• ITR or financial documents of the sponsor (for Indian applicants) or tax return documents in general (for applicants of other countries)

Why does financial proof matter for the visa application?

The South Korean Embassy carefully reviews applicants’ financial health to ensure they can sustain themselves without external support. Consistent income and a stable balance reflect financial reliability. Sudden large deposits or inactive accounts often raise red flags, so it’s best to maintain an even flow of transactions and savings over time.

Common mistakes to avoid

Even if you meet the financial requirements, a few small oversights can lead to unnecessary delays or even visa rejection. Here are some of the most common mistakes applicants make — and how you can avoid them:

1. Submitting incomplete or uncertified bank statements

Your bank statements are one of the most important financial documents in your application. Submitting incomplete pages, screenshots from mobile apps, or unsigned statements can weaken your case.

Always request official bank statements, printed on the bank’s letterhead, stamped and signed by an authorised official. This gives your documents authenticity and credibility in the eyes of the embassy.

2. Maintaining funds only a week before applying

A sudden spike in your balance right before applying can raise red flags. The embassy looks for financial consistency, not last-minute deposits. It’s best to maintain a healthy average balance for at least three to six months.

This shows that your funds are genuine, earned through a stable income, and not borrowed temporarily to meet the requirement.

3. Using joint accounts without clarification of ownership

If you’re using a joint account, make sure it’s clear who the primary account holder is and what portion of the funds belongs to you.

Many applicants forget to provide a declaration letter or clarification of ownership, which can lead the embassy to question whether you truly have access to the funds. If possible, use a personal account or submit additional proof, such as salary slips or investment records, that confirm the money is genuinely yours.

4. Relying solely on credit card limits as proof of funds

Credit cards are useful for travel, but they do not reflect actual savings or income stability. Relying only on your credit limit won’t satisfy the embassy’s financial proof requirement.

You should still provide bank statements, income documents, and tax records to show that you can fund your trip without depending solely on credit.

5. Ignoring ITR submission (especially for Indian applicants)

For Indian travellers, Income Tax Returns (ITRs) play a vital role in proving your financial credibility. Submitting ITRs for the past 3 years is highly recommended, especially if you’re self-employed or a freelancer. Not including them may give the impression that your income is irregular or undocumented.

Even if you fall below the taxable income threshold, you can include a short declaration explaining your situation along with bank and income proofs.

Financial consistency is a must, when it comes to getting your visa.

When it comes to securing your South Korea visa, it’s not just about hitting a specific number in your bank account; it’s about showing financial consistency and credibility. The recommended ranges above are based on real traveller experiences and embassy insights, helping you understand what a comfortable financial profile looks like for your trip duration.

Remember, the South Korean Embassy wants assurance that you can fund your journey responsibly — whether it’s about exploring Seoul’s charm or discovering hidden cafes in Jeju. Maintaining a stable balance, submitting complete financial documents, and demonstrating a steady source of income are key to a smooth approval.

So plan ahead, keep your finances organised, and let your paperwork reflect the same care and attention you’ve put into your itinerary. Once that visa is stamped, all that’s left is to embrace the adventure, from the cherry blossoms in spring to the sizzling barbecues that define Korean evenings.