Fixed Deposit as Proof of Funds

[Wolverine17]

I just showed my FD receipts which has maturity of 2015-2020 along with bank statemet of 6 months. just 2 papers and all was fine.

What does maturity 2015-2020 means?

 

[Wolverine17]

What does maturity 2015-2020 means?

Bump

 

[Maverick28]

May i ask how come its a fixed deposit and still you are able to withdraw at anytime?thanks

You can liquidate a fixed deposit any time you want. You may or may not get any interest on that deposit. This depends on the initial terms and conditions of the FD you make.

 

[Wolverine17]

You can liquidate a fixed deposit any time you want. You may or may not get any interest on that deposit. This depends on the initial terms and conditions of the FD you make.

So are you sure that its accepted as pof by cic?

 

[hitesh0414]

Fixed deposits are accepted by CIC. I shown just one FD for INR 10 lacs along with bank letter for that FD

 

[Wolverine17]

Fixed deposits are accepted by CIC. I shown just one FD for INR 10 lacs along with bank letter for that FD

Thanks bro

 

[Rav@1]

I started an FD on 28 Oct 2016, as of today it is 5 months old. I will submit my application in the coming week, should i bother about a gift deed? By the time they review my application I believe the funds would be 6 months old...

 

[nv0411]

I started an FD on 28 Oct 2016, as of today it is 5 months old. I will submit my application in the coming week, should i bother about a gift deed? By the time they review my application I believe the funds would be 6 months old...

Submit a gift deed.. Better spend an additional day and obtain a gift deed before you submit you application rather than having to spend additional weeks where your PoF document is scrutinized back and forth before they come back to you with a document request anyway..

 

[Wolverine17]

Submit a gift deed.. Better spend an additional day and obtain a gift deed before you submit you application rather than having to spend additional weeks where your PoF document is scrutinized back and forth before they come back to you with a document request anyway..

Why did you recommend him to have a gift deed

 

[nv0411]

Why did you recommend him to have a gift deed

Thats the best way for him to conclusively prove the money wasn't borrowed.. A large transaction less than 6 months old can be flagged as suspicious by a case officer.. Should he take that chance?

 

[pino1130]

Right, same here.

I sent in my FD receipts, bank statement and a letter from the bank stating I have an 'x' amount in my bank account, and that I have held an account in the bank since a certain number of years. Also got a line added in there to say I have full access to the money, anytime.

There was no need to send anything else.

However, if you are opening a new FD *now*, and this money has been somewhere else all along the past 6 months, you may have to send in the source of these funds - if you transferred this from a different account, or from your spouse's or this was the result of some recent sale, etc

Hope this helped.

Dear guy,
I need your urgent help regarding my fixed deposit. My fixed deposit is a 1-year term. I opened it in June 2016, which means it's older than 6 months now. My concern is that its maturity date will be Jul 20, 2017 however my deadline for APR is Aug 16, 2017. I got the bank letter already and it clearly mentions the maturity date. Will this make CIC disregard my PoF because it will mature before the deadline? If yes, what should I do? Pls help me!! Thank you.

 

[Live life]

I just showed my FD receipts which has maturity of 2015-2020 along with bank statemet of 6 months. just 2 papers and all was fine.

Is your PR application approved? So past 6 months bank statement and FD receipt was sufficient for the proof of funds? Thanks

 

[Live life]

Fixed deposits are accepted by CIC. I shown just one FD for INR 10 lacs along with bank letter for that FD

Is your PR application approved already? Did you submit only the bank letter for the FD and the FD receipt? Bank statement are not mandatory?

 

[hitesh0414]

Is your PR application approved already? Did you submit only the bank letter for the FD and the FD receipt? Bank statement are not mandatory?

Yes, i got PR and already landed. For FD, I just submitted the color scanned copies of bank letter and original FD.

 

[Live life]

Yes, i got PR and already landed. For FD, I just submitted the color scanned copies of bank letter and original FD.

Thanks hitesh. Just confirm my understanding below
1.bank statements are not required in case FD is proof of funds
2. Just the FD receipts and bank letter for the FD stating that it can be liquidated is enough.
3. Is there a bank letter required which states all the relationships including loans, credit card etc also needed?