Proof of funds

[krishk329]

Dear All,
Please help,

I need to know how can i show the proof of funds from India.

Can i just send the account statement or is there a format which i have to follow.

What types of funds are acceptable to CIC.

Please help.

 

[Jojii]

Dear All,
Please help,

I need to know how can i show the proof of funds from India.

Can i just send the account statement or is there a format which i have to follow.

What types of funds are acceptable to CIC.

Please help.

All the information is available on CIC webpage.
http://www.cic.gc.ca/english/resources/tools/perm/express/intake-complete.asp

Purpose
To confirm whether the applicant meets the low-income cut-off (LICO), assessed by the amount of money they hold compared to the number of people in their family

Document requirements

• The applicant should provide an official letter(s) from one or more financial institutions that lists all current bank and investment accounts as well as outstanding debts, such as credit card debts and loans.
  • o The letter(s) must be printed on the letterhead of the financial institution and must include the applicant’s name, the contact information of the financial institution (address, telephone number and email address), the account numbers, the date each account was opened and the current balance of each account as well as the average balance for the past six months.
• Other documents may also be requested, as necessary.

This question has been asked at-least a few hundred times. For more details why don't you try out the search option?

 

[thestunner316]

Dear All,
Please help,

I need to know how can i show the proof of funds from India.

Can i just send the account statement or is there a format which i have to follow.

What types of funds are acceptable to CIC.

Please help.

all this information is clearly mentioned on IRCC website.

you need a bank letter stating average balance for last 6 months, along with name on account, date of opening account, type of acount etc.
else you can have a bank letter showing date of opening, name of account, type of account etc along with 6 months bank statement.

funds should be unencumbered , meaning readily available to be converted to CAD...
examples - money in bank, provident fund (for indians) , fixed deposits in some cases

 

[nilsen21]

How about the credit card outstanding? Do we need to get an official letter from the credit card company as well? or the latest statement showing the balance is sufficient?

 

[rupinder2k17]

How about the credit card outstanding? Do we need to get an official letter from the credit card company as well? or the latest statement showing the balance is sufficient?

It is not mandatory to disclose everything. you only need to show account / multiple accounts that prove that you have the required funds. As for the Credit Cards, if you dont have much debt against you then only you should show it, otherwise try not to. nobody at CIC office is gonna pull out your CIBIL rating or anything. They only want to ensure that you are using your own money, not any kind of loan or borrowed money, to settle in canada.

 

[nilsen21]

It is not mandatory to disclose everything. you only need to show account / multiple accounts that prove that you have the required funds. As for the Credit Cards, if you dont have much debt against you then only you should show it, otherwise try not to. nobody at CIC office is gonna pull out your CIBIL rating or anything. They only want to ensure that you are using your own money, not any kind of loan or borrowed money, to settle in canada.

Thank you so much.... Also can anyone confirm if i can show my spouse's bank account in the proof of funds even if i sm the primary applicant?