Hello aspirant,
Yes, most private colleges have a specific set amount that you need to have in your banks. This is because they want to make sure that you will be able to pay the full course fees with time. However, this is not mandatory since it has been rules that the private colleges can no longer ask for the entire fees. They can only ask for the fees of the first year.  If you don't have the required amount, you can always opt for students loans that have 0% interest. Hope this helps!