I’m often asked by readers about how much is minimum bank balance for a Schengen visa from Nigeria? The real question everyone wants to know is how much bank balance do I have to show as means of subsistence for a Schengen visa?
The minimum bank balance or means of subsistence is one of the requirements for a Schengen visa. You must be able to demonstrate that you have the means to cover the existential costs of your vacation while in a Schengen country.
Basically, you need at least €45 per day (equivalent to NGN 37,714.5)* in your bank account to obtain a Germany Schengen visa from Nigeria. If you plan to visit France, the minimum required amount is €32.50 per day (equivalent to NGN 27,238.25)*. Finland Embassy requires at least €30 per day (equivalent to NGN25,143)* for the duration of your stay in the country.
In this post, my goal is to help you learn how much is minimum bank balance for a Schengen visa. Check the table below for a full list of the minimum bank balance for all Schengen countries.
Table of Contents
What is the Minimum Bank Balance for a Schengen Visa?
Each Schengen country has a different daily cost of subsistence. For calculating the means of subsistence for a Schengen visa, the websites of several embassies in Schengen area countries have provided the exact amount, while others have not disclosed the figures.
While you can check the official embassy website of the Schengen country you’re visiting, here’s an up-to-date list of means of subsistence requirements for all Schengen Countries.
| Minimum Bank balance by Country for Schengen Visa | Reference amount in EUR |
| Austria Schengen Visa | Authorities decide on a case-by-case basis. But have at least a budget of €100 per day. |
| Belgium Schengen Visa | €45 per day for Nigerians staying with a private individual; €95 per day for Nigerians staying at a hotel. |
| Bulgaria Schengen Visa | €50 per day; minimum €500 per stay |
| Croatia Schengen Visa | €100 per day, but €50 for Nigerians possessing a certified guarantee letter, proof of paid travel arrangements, etc. |
| Cyprus Visa | Authorities decide on a case-by-case basis |
| Czech Republic Schengen Visa | €40 per day up to 30 days. More info here |
| Germany Schengen Visa | €45 per day in the form of cash, credit cards, and cheques, but alternatively, a letter of guarantee from the host. |
| Denmark Schengen Visa | DKK350 per day |
| Estonia Schengen Visa | €78 per day or a letter of invitation |
| Finland Schengen Visa | €30 per day |
| France Schengen Visa | €120 per day if you do not have proof of accommodation; €65 per day if staying at a hotel; €32.50 per day if you have proof of accommodation. |
| Greece Schengen Visa | €50 per day; a minimum total amount of €300 for a stay of up to 5 days reduced by 50% for minors |
| Hungary Schengen Visa | HUF1000 per entry or letter of invitation, confirmation of accommodation, or any other credible proof. |
| Iceland Schengen Visa | ISK4,000 per day + ISK20,000 per each entry |
| Italy Schengen Visa | €269.60 fixed sum for stays up to 5 days (€212.81 per person for groups of two and more); 6–10 days: €44.93 per day (€26.33); 11–20 days: €51.64 fixed sum + €36.67 per day (€25.82 + €22.21); 20+ days €206.58 fixed sum + €27.89 per day (€118.79 + €17.04). |
| Latvia Schengen Visa | €14 per day or a certified invitation letter |
| Liechtenstein Schengen Visa | CHF100 per day; CHF30 for students |
| Lithuania Schengen Visa | €40 per day |
| Luxembourg Schengen Visa | Authorities decide on a case-by-case basis |
| Malta Schengen Visa | €48 per day |
| Netherlands Schengen Visa | €34 per day |
| Norway Schengen Visa | NOK 500 per day (indicative for those not staying with friends or relatives) |
| Poland Schengen Visa | PLN 300 for a stay not exceeding 3 days; PLN 100 per day for a stay exceeding 3 days; PLN20 per day if the cost of the stay was paid. |
| Portugal Schengen Visa | €40 per day + €75 per entry |
| Romania Visa* | €50 per day; minimum €500 per stay |
| Slovakia Schengen Visa | €56 per day (€30 for accommodation, €4 for breakfast, €7.5 for lunch, €7.5 for dinner, €7 for spending) or a certified invitation letter |
| Slovenia Schengen Visa | €70; €35 for minors accompanied by parents |
| Spain Schengen Visa | €583.74 minimum amount (for stays of up to 10 days); €64.86 per day in excess of 10 days. |
| Sweden Schengen Visa | SEK 450 per day |
| Switzerland Schengen Visa | CHF100 per day; CHF30 for students |
*The amount you see is just for information purposes only. For the most up-to-date information, please refer to the relevant embassy or consulate applicable.
If you require other information on how to start a Schengen visa application or how to submit a Schengen visa online, click on the links.
How is the minimum bank balance calculated for a Schengen visa from Nigeria?
There are basically three metrics for calculating the minimum balance or means of subsistence for a Schengen visa. They are: Staying with a family or friend, Staying in a paid lodging (Hotel), and Cost per day excluding your paid accommodation. These metrics were used in calculating the above means of subsistence requirements for all Schengen Countries.
How many months of bank statements for a Schengen visa?
You will need a bank statement from your existing bank that details your transactions over the last three to six months, including your income.
To get this bank statement, you must visit your Nigerian bank and request a copy, which they must sign and stamp. And please do not print the bank statement at home because it will most likely be rejected.
Wrapping Up!
By and large, this article should clear up most of your basic questions about the minimum bank balance or means of subsistence for a Schengen visa.
However, if you have any further questions, please contact me through the contact Us page. Since you are applying for a Schengen visa, you may need to get further assistance, such as travel insurance or a hotel reservation for the visa.
I can assist you in acquiring these documents at a low cost and in the shortest period possible, as well as with any of your visa-related questions. This way, you can relax and enjoy your pre-trip days!