Do I need Bank letters from multiple banks in my case?

[vineet_120191]

Hello All,

I am confused about how to provide proof of funds - bank letters in my case. Could you please help?
I have:

1) one savings account in ICICI bank which is the primary account for proof of funds purpose.
2) one salary account in Standard Chartered bank
3) one credit card from HDFC bank

Initially I was thinking to get the letter only from ICICI bank, and I don't need to show my other accounts/cards.
However, as the ICICI bank records wouldn't show my salary, could that be a problem?
In that case, should I show all three accounts/cards? If I do so, should I:

1) get letter only from the ICICI bank, and put original statements from Standard Chartered and HDFC bank?
OR
2) get letter from ICICI and Standard Chartered, both? I don't think any kind of letter would be required from HDFC and it should do.

Reason for showing HDFC credit card is: I had huge credit card bills for past 3-4 months, for which I paid via my salary account (Standard Chartered).

Kindly help?

 

[HusainS]

If you have enough funds in ICICI then you don’t need to get letters from other banks.

Or you could transfer your funds to ICICI and then get a pof. Easier.

But it’s just two bank accounts. So what’s the harm in getting it from both?

 

[jaschaggar]

The idea is to show that you have the minimum funds as mandated by IRCC. Single or multiple accounts do not matter. Also , your credit card information is not required.

 

[vineet_120191]

Hello HusainS and jaschaggar,

Thank you for replying!
I have enough funds in my ICICI bank account, and I was thinking to obtain letter for the same. However, it isn't my salary account. Can it cause any problem?
Also, If I could get the letter from bank containing following information (as given on the website

Letter(s) must:

• be printed on the financial institution’s letterhead
• include their contact information (address, telephone number and email address)
• include your name
• list outstanding debts such as credit card debts and loans
• include, for each current bank and investment account:
  • account numbers
  • the date each account was opened
  • the current balance of each account
  • the average balance for the past six month

Then, I think I don't need to provide any kind of transaction statements and a single letter would do. Is it correct?
Thank you!

 

[Scorpman21]

Kindly help?

Hey Vineet,

I would suggest you to attach Balance Confirmation Letter for both your saving accounts along with 6 month statements. No harm in doing that. Further, you do not need to show your credit card statements.

 

[HusainS]

Hello HusainS and jaschaggar,

Thank you for replying!
I have enough funds in my ICICI bank account, and I was thinking to obtain letter for the same. However, it isn't my salary account. Can it cause any problem?
Also, If I could get the letter from bank containing following information (as given on the website

Letter(s) must:

• be printed on the financial institution’s letterhead
• include their contact information (address, telephone number and email address)
• include your name
• list outstanding debts such as credit card debts and loans
• include, for each current bank and investment account:
  • account numbers
  • the date each account was opened
  • the current balance of each account
  • the average balance for the past six month

Then, I think I don't need to provide any kind of transaction statements and a single letter would do. Is it correct?
Thank you!

Then just put your ICICI letter and details. Don't bother much.

 

[vineet_120191]

Hey Vineet,

I would suggest you to attach Balance Confirmation Letter for both your saving accounts along with 6 month statements. No harm in doing that. Further, you do not need to show your credit card statements.

If I get the required details in the letter, why do we need to include 6 month statments? The instructions say to provide average of 6 months in the letter. Anyways, If I show my 6 months of statements:

1) it would show that my salary doesn't come in ICICI bank. Hence I'll need to provide my salary account (standard chartered) bank letter and statments.
2) The standard chartered details has big credit card payments for last 3-4 months, which may seem like some kind of loan payment. So, to clarify that I think I'll need to provide my credit card statements.

Maybe I am thinking too much? Maybe even if I provide letter and 6 month statements of my ICICI bank, it wouldn't matter if my salary comes in it or not? :|

 

[vineet_120191]

Then just put your ICICI letter and details. Don't bother much.

I am thinking the same. But would it matter if my salary doesn't show in the statements of ICICI ?

 

[Scorpman21]

If I get the required details in the letter, why do we need to include 6 month statments? The instructions say to provide average of 6 months in the letter. Anyways, If I show my 6 months of statements:

1) it would show that my salary doesn't come in ICICI bank. Hence I'll need to provide my salary account (standard chartered) bank letter and statments. For this very reason suggested you to show account statements for both the accounts. There is no harm in providing additional documents.
2) The standard chartered details has big credit card payments for last 3-4 months, which may seem like some kind of loan payment. So, to clarify that I think I'll need to provide my credit card statements. Doesn't matter if you have sufficient funds in your accounts.

Maybe I am thinking too much? Maybe even if I provide letter and 6 month statements of my ICICI bank, it wouldn't matter if my salary comes in it or not? :|

 

[HusainS]

I am thinking the same. But would it matter if my salary doesn't show in the statements of ICICI ?

No it doesn’t. And you need just 3 months statements.

 

[engineer_qp]

Hello Vineet,

I am having same situation as you. So at end, how did you proceed?