How much bank deposit do I need to show to apply for one year of study permit in Canada?

Question

How much bank deposit do I need to show to apply for one year of study permit in Canada?

Somebody told me that, the amount (Canadian $) I need to show is,

(Tuition Fee for one year) + (Living cost for one year * 2 persons). 

Is that true?

If Yes, what is the rationale?

Answer 1

The Government of Canada expects you to show that you have enough money to pay for your tuition fees, living expenses for yourself (and any family members who go with you) and that you have return transportation for yourself (and any family members with you).

EduCanada provides all the information you need and a Step-1-2-3 tool to help you estimate tuition and living expenses, both of which will depend on the school, where it is located, whether it has campus housing, meal plans, and so on. Once you select the school(s) you're interested in, it will show the tuition and fees, cost of on-campus housing options (which can be in the range of C$8,000-12,000), meal plans and the like. If you live off campus, rental cost may be lower but you would have to add the expense of necessities (food), furniture, utilities (water, electric, phone, internet, etc.).