Is it necessary to get a loan only from a nationalised bank in order to secure a visa to Austria?
OeAD, the Austrian Agency for International Cooperation in Education and Research, describes
Proof of sufficient funds to finance your stay in Austria, e.g. savings or bank deposit, proof of purchase of traveller’s cheques, letter of guarantee of a person living in Austria or an institution domiciled in Austria.
If you need a loan, it would need to be done in advance, so that the entire amount appears in an bank account owned and/or available to you, and one which can be accessed from Austria. There is no separate requirement that a loan be secured from a nationalised bank, or other specific source.
You have to prove sufficient financial means to finance your stay: students up to 24 years of age have to prove that they have at least 491.43 euros per month ; students of 24 years of age or older have to prove that they have at least 889.84 euros per month [as of 2017] – these amounts have to be proved for a maximum of 12 months in advance.
If the costs for accommodation exceed 282,06 euros/month, you will have to prove additional funds.