A student from India has query regarding Canada student visa financial docs

[Priyavart Rajain]

Again I have a query frie4nds. Please help me ASAP. For some reason my GIC has come back and so I have to send money again. My first question is as it will take some time to get my GIC, will I apply without GIC?Is it safe to apply without GIC, showing only 30 lac loan amount and CS evaluation report of my father's property?

So.. you are applying for september right?.. if you even revert the same payment with fixing the issue.. it will take around 10 days to get your gic.. by then.. it will be 21st or 22nd.. if you go with gic.. you will loose a lot of time.. if you don't submit gic , then also you will be at risk.. but as per i think.. submitting late.. but submitting with gic , will have a higher chance of acceptance...
Btw. Are you applying under sds?

 

[koyel94]

Am applying through normal process as in all section my IELTS score band was not 6. Today few hours ago I also made 1st semester tuition fee from my 30 lac loan amount. I have taken edu loan from Avanse and transferred the whole amount to my ICICI bank account. If I manage to get a declaration from ICICI that from 30 lac loan amount I paid for my GIC(although I have to pay again), paid 1st sem tuition fees, then do i need to show bank statement or the declaration from ICICI is enough?

 

[Priyavart Rajain]

Am applying through normal process as in all section my IELTS score band was not 6. Today few hours ago I also made 1st semester tuition fee from my 30 lac loan amount. I have taken edu loan from Avanse and transferred the whole amount to my ICICI bank account. If I manage to get a declaration from ICICI that from 30 lac loan amount I paid for my GIC(although I have to pay again), paid 1st sem tuition fees, then do i need to show bank statement or the declaration from ICICI is enough?

Bro look.. according to CIC Website , if you have taken education loan , then you don't need to pay gic,
You need to choose either one of them... Although the preferrence is given to GIC , but loan will also work.. what i think you should do is wait for the tution fee receipt , get any declaration or bank statements from icici which shows that you have the money in your bank account , and also submit the loan sanction letter..

 

[Priyavart Rajain]

And forget what i said above about waiting for gic , as you have taken the loan , you don't need to pay gic , just get the documents of loan and bank statements ready and apply , and it will be really good if you talk to a consultant tomorrow , it won't cost you anything and you will be stressfree ,

 

[Priyavart Rajain]

Am applying through normal process as in all section my IELTS score band was not 6. Today few hours ago I also made 1st semester tuition fee from my 30 lac loan amount. I have taken edu loan from Avanse and transferred the whole amount to my ICICI bank account. If I manage to get a declaration from ICICI that from 30 lac loan amount I paid for my GIC(although I have to pay again), paid 1st sem tuition fees, then do i need to show bank statement or the declaration from ICICI is enough?

And you don't need to pay again , it will be refunded to your account in about 15 days , i suggest continue with loan documents and apply... GIC refund will later come to your account , don't worry about that..

 

[koyel94]

I also paid 1st sem tuition fees from that loan amount few hours ago. Another thing is that if I manage before applying for visa 3lac from my neighbour, then will it be any problem? I am asking it because CIC website mentions to show 4 months old bank statement which I dont have. So will I borrow money from my neighbor to increase the chance of acceptance in visa?

 

[darthv]

Include your father's ITR or salary slip to show a steady source of income. It'll convince VO that your family will sustain itself without spending everything on your education.

 

[Priyavart Rajain]

I also paid 1st sem tuition fees from that loan amount few hours ago. Another thing is that if I manage before applying for visa 3lac from my neighbour, then will it be any problem? I am asking it because CIC website mentions to show 4 months old bank statement which I dont have. So will I borrow money from my neighbor to increase the chance of acceptance in visa?

No bro, it will be of no use..

 

[darthv]

I also paid 1st sem tuition fees from that loan amount few hours ago. Another thing is that if I manage before applying for visa 3lac from my neighbour, then will it be any problem? I am asking it because CIC website mentions to show 4 months old bank statement which I dont have. So will I borrow money from my neighbor to increase the chance of acceptance in visa?

On the contrary, it'll decrease your chances because borrowed money is not your own. Any large transaction in the bank statement need to be explained otherwise VO can assume something else

 

[Priyavart Rajain]

Hey , if you have any brother or sister or grandparents who earn? They can sponsor you , just show affidavit of financial support..

 

[koyel94]

I took loan from Avanse and the whole 30 lac loan amount is transferred to my icici account. I paid for GIC and few minutes ago I paid for 1st sem tuition fee from that 30 lac loan amount. Now if I get a declaration from Icici that from 30 mlac loan amount I paid tuition fee(1st sem), GIC(although I have to pay again) then is it enough to show or I have to again show the bank statement?

 

[darthv]

I took loan from Avanse and the whole 30 lac loan amount is transferred to my icici account. I paid for GIC and few minutes ago I paid for 1st sem tuition fee from that 30 lac loan amount. Now if I get a declaration from Icici that from 30 mlac loan amount I paid tuition fee(1st sem), GIC(although I have to pay again) then is it enough to show or I have to again show the bank statement?

Ur first year tuition + $10000 is all you need to show. Add few $k for buffer.

 

[Priyavart Rajain]

Ur first year tuition + $10000 is all you need to show. Add few $k for buffer.

Yes you are right but he is not applying under sds , he is applying under general category which will require more financial documents won't he/she ?

 

[jasz_blr]

Am applying through normal process as in all section my IELTS score band was not 6. Today few hours ago I also made 1st semester tuition fee from my 30 lac loan amount. I have taken edu loan from Avanse and transferred the whole amount to my ICICI bank account. If I manage to get a declaration from ICICI that from 30 lac loan amount I paid for my GIC(although I have to pay again), paid 1st sem tuition fees, then do i need to show bank statement or the declaration from ICICI is enough?

You seem to be in lot of rush. Hold on and calm down first !

Try to understand that processing time of paper based applications are around 7 weeks.

You are yet to obtain GIC certificate, academic fees receipts, bank balance certificate and other statements. Even if you get these things done, it will be close to 20th July when you submit your application. I don't want to dishearten you, but this seems like a dream run to get visa in 30-40 days when many students are waiting for 3 months. On the other hand, when are you going to book your flight tickets and arrange accommodation in Canada and other misc tasks. You are trying to balance your act on a very tight rope at the last moment.

BTW, if your loan is from Avanse then ICICI is not going to give any declaration. They will probably give balance certificate. Documents related to loan has to come from right channel to convince VO. Otherwise your finance documents will get jumbled up between ICICI and Avanse and will confuse VO.

You should not have got loan amount transferred in one shot. Instead, the amount should have been released in installments as you progress semester by semester in your studies. I am afraid, now that you have got full amount transferred in one shot, the loan interest rate might have already started ticking. Unfortunately, paying GIC from loan was not advisable.

Usually, for visa you just need to show loan sanction letter. In the event of your visa getting rejected, you need not pay any interest to bank or loan issuing institution because you never took the real money from them. In your case, you have got 30L transferred and 5L paid for GIC, for God sake if something does not turn up as expected then how much interest you need to pay from your pocket now?

All this arrangement made in haste does not sound too good to me. My 2 cents - Try to get your admissions deferred to Jan 2019.

 

[darthv]

Yes you are right but he is not applying under sds , he is applying under general category which will require more financial documents won't he/she ?

No its for everyone. Under SDS, you show payed 1 year tuition and living cost ($ 10000) through GIC, so you dont need anything else.
However, for other cases you need to show the same amount through other sources (loan, scholarship, bank statement). However these other sources should show liquid money (readily cash convertible) not fixed assets (property etc).