Proof of Funds from State Bank of India

[devika_praveen]

Hi Everyone,

Has anyone got PoF letter from State Bank of India? (Preferably in Delhi. If so, which branch?)

I have all the required funds there, in my salary and savings account. My home branch is not aware of any provision to issue such letter. They are offering to issue me last 6 months bank statement with official stamp.

1. Is this letter issued by some specialised branch? (since all branches do not deal in Forex)
   
   
2. Is it sufficient for the letter to mention the amount in INR or does it also need to mention CAD equivalence at that day's exchange rate?

 

[Dv.harsh]

You can open a privilege account with private bank on condition that they give you letter and transfer all your sbi funds there.. just a way around

 

[Dv.harsh]

Hi Everyone,

Has anyone got PoF letter from State Bank of India? (Preferably in Delhi. If so, which branch?)

I have all the required funds there, in my salary and savings account. My home branch is not aware of any provision to issue such letter. They are offering to issue me last 6 months bank statement with official stamp.

1. Is this letter issued by some specialised branch? (since all branches do not deal in Forex)
   
   
2. Is it sufficient for the letter to mention the amount in INR or does it also need to mention CAD equivalence at that day's exchange rate?

ICICI gave me the letter

 

[sidganesh]

Hi Everyone,

Has anyone got PoF letter from State Bank of India? (Preferably in Delhi. If so, which branch?)

I have all the required funds there, in my salary and savings account. My home branch is not aware of any provision to issue such letter. They are offering to issue me last 6 months bank statement with official stamp.

1. Is this letter issued by some specialised branch? (since all branches do not deal in Forex)
   
   
2. Is it sufficient for the letter to mention the amount in INR or does it also need to mention CAD equivalence at that day's exchange rate?

ICICI Bank Mumbai gave me a letter confirming the balance across various SB and FD accounts though the six month average was not mentioned. INR amount will suffice.

 

[akhilmahajan5]

Hi Everyone,

Has anyone got PoF letter from State Bank of India? (Preferably in Delhi. If so, which branch?)

I have all the required funds there, in my salary and savings account. My home branch is not aware of any provision to issue such letter. They are offering to issue me last 6 months bank statement with official stamp.

1. Is this letter issued by some specialised branch? (since all branches do not deal in Forex)
   
   
2. Is it sufficient for the letter to mention the amount in INR or does it also need to mention CAD equivalence at that day's exchange rate?

Hi Devika...I havnt got letter, but mine is with SBI, and planning to get it soon probably this month. Had talked earlier to bank officials in my home branch (punjab), they said , yes they do it. but ihv nt vetted or checked with them about the format yet. For point no 2 - though i dont own this answer, but i have seen few of the experts in various groups an forums stating that it is OK if they mention amount in INR and dont mention eq in CAD as long as the letter meets all the requirements. Moroever, I would suggest check with some other branch officials, use your network/ parents network bcos that might help. I will let you know once i have any updates from my bank branch (end of this month , im planning to take it)...meanwhile u try at your end.

 

[akhilmahajan5]

You can open a privilege account with private bank on condition that they give you letter and transfer all your sbi funds there.. just a way around

Opening a new bank account is not a good option, since the funds are generally suggested to be around 6 months old in accounts.

 

[nidiw2017]

You should speak to the Branch Manager

Hi Everyone,

Has anyone got PoF letter from State Bank of India? (Preferably in Delhi. If so, which branch?)

I have all the required funds there, in my salary and savings account. My home branch is not aware of any provision to issue such letter. They are offering to issue me last 6 months bank statement with official stamp.

1. Is this letter issued by some specialised branch? (since all branches do not deal in Forex)
   
   
2. Is it sufficient for the letter to mention the amount in INR or does it also need to mention CAD equivalence at that day's exchange rate?

You should speak to the Branch Manager at your home branch. He/ She will issue the ltter and will charge INR 52 for the same.

 

[Rise and shine]

Get it from the home branch itself. I got mine from my home branch(not Delhi though). The Manager signs the letter, you can take a copy of what has to be printed in the Bank's Official Letterhead. They will also mention when you opened the account, your home address with the bank, and your last six month statement. If you are downloading from Online banking, ask the manager to countersign it with his seal too.
Hope it helps.

 

[Rise and shine]

Hi Everyone,

Has anyone got PoF letter from State Bank of India? (Preferably in Delhi. If so, which branch?)

I have all the required funds there, in my salary and savings account. My home branch is not aware of any provision to issue such letter. They are offering to issue me last 6 months bank statement with official stamp.

1. Is this letter issued by some specialised branch? (since all branches do not deal in Forex)
   
   
2. Is it sufficient for the letter to mention the amount in INR or does it also need to mention CAD equivalence at that day's exchange rate?

Also, they can mention the balance in INR. Most of the Indian banks won't mention the corresponding amount in other currency, but it's alright...!

 

[gseetha.lks]

Hello Friends,

For Proof of funds, i am staggering the required amount in a bank account which is not my salary account. In addition to that , i have monthly EMI being debited from salary account. Should i need to show my last 6 months statement from my salary account as well?

Appreciate your help in this.

Thanks,
Seetha

 

[devika_praveen]

Hello Friends,

For Proof of funds, i am staggering the required amount in a bank account which is not my salary account. In addition to that , i have monthly EMI being debited from salary account. Should i need to show my last 6 months statement from my salary account as well?

Appreciate your help in this.

Thanks,
Seetha

Yes, it will be good if you can show your salary account statement, even if not for PoF purpose but atleast as a supporting document for your salary slip.

 

[kayshapvivekk]

Hi All,

In the six months statements only the summary page should be enough or should I include all the transactions?

 

[devika_praveen]

Hi All,

In the six months statements only the summary page should be enough or should I include all the transactions?

I had given the whole statement with all txns and it worked well. Don't worry even if there are a lot of txns, I had mine spanning across 12-13 pages

 

[kayshapvivekk]

I had given the whole statement with all txns and it worked well. Don't worry even if there are a lot of txns, I had mine spanning across 12-13 pages

Thanks.. That's helpful .. So I am thinking I will be uploading a letter from the Bank that has the minimum required fund (State Bank) & Six Months statements of my salary account (Citi Bank) ... Do you think this should work without any glitch?

 

[devika_praveen]

Thanks.. That's helpful .. So I am thinking I will be uploading a letter from the Bank that has the minimum required fund (State Bank) & Six Months statements of my salary account (Citi Bank) ... Do you think this should work without any glitch?

That should be perfect! All the best!