Proof of Funds

[read4u]

Hi All,

I have the below quires about proof of funds that needs to be shown. Would appreciate if someone could provide some guidance.

i) I am planning to show my FD which is more than 6 months old as POF. The thing is I am the secondary applicant and my wife is the main applicant. Can I show my FD for both of us. Do I need to give any kind of letter along stating that she can use the funds and I have no objection for this.

ii) The FD is joint. By that I mean that myself and my sisters name is mentioned on the FD. Should I obtain a NOC letter from my sister stating that she has no objection to me or my wife using the funds for immigration purposes and also submit a copy of her passport to prove that she has signed.

iii) Should I also submit my bank statement for 6 Months along with the FD. As the FD amount is easily covering more than the required amount that CIC requires for 2 applicants. Also will I need to get a letter from the bank stating that this FD can be en cashed anytime.

iv) The bank account is in my name only and not my wife's name. So should I add her name to my account or it is not required.

iv) Lastly I would appreciate if you could share the format of the letter that I would need to prepare and submit to CIC. As this would really help me out and avoid me making mistakes.

Thanks a lot in advance.

 

[bimale4bipeople]

Hi All,

I have the below quires about proof of funds that needs to be shown. Would appreciate if someone could provide some

Thanks a lot in advance.

-FD should be ready emcashable. Get a letter from the bank that will provide the confirmation that money can be easily liquidated in the event you required to break your FD

-Yes imho it should be fine

-PA has to show PoF, directly or through an accompnying spouse. You are already providing a letter for the FD which is in you n your sisters name.
I would avoid another letter(my personal opinion) and I would suggest you to include her to your bank account as a jt. account holder...

 

[read4u]

Thanks @ bimale4bipeople.

I will get the letter from the bank confirming that it can be easily liquidated also will add my wife to my account.

Any other opinion that senior members would like to share on this. It would be much appreciated.

 

[bimale4bipeople]

Thanks @ bimale4bipeople.

I will get the letter from the bank confirming that it can be easily liquidated also will add my wife to my account.

Any other opinion that senior members would like to share on this. It would be much appreciated.

Since your wife is a primary applicant, please draft a letter from your side(to whomsoever it may concern) that she will have the access to the funds
https://www.canadavisa.com/canada-immigration-discussion-board/threads/spouses-bank-statement-for-proof-of-funds.533511/ (like DineshKumar mentioned in his post)

 

[read4u]

Since your wife is a primary applicant, please draft a letter from your side(to whomsoever it may concern) that she will have the access to the funds
https://www.canadavisa.com/canada-immigration-discussion-board/threads/spouses-bank-statement-for-proof-of-funds.533511/ (like DineshKumar mentioned in his post)

Thank you once again. But will be possible for you to share the Letter format. Also do I need to get it notarized or no need.

 

[Rajesh Durai]

Hi Guys,

I have a question. I have a Loan account in SBI india. Let me explain how it works. I have borrowed 20L from the bank for my housing loan for which I am paying an EMI of X amount per month. This account lets you to deposit a sum for which you will get interest exemption. Say for example , i have 3L in my hand, i can deposit it in this account. If my outstanding loan amount is 17 L , i will have to pay interest for only 14 L .

Now coming to my question. I accumulated the required funds for canadian immigration in this account. Can i show it as my proof of funds?

I have access to this money anytime by cheque book and internet banking. The only thing I am worried now is that as its a over draft account the balance is showing in negative figure.

Can anyone help me with this?

What are my options? Should i move my money to my salary account?

Please help!

 

[read4u]

DATE:

To,

The Immigration Officer,

IRCC, Government of Canada,

Canada.


Ref: Express Entry Profile No.


Dear Sir/Madam,

I, [My Name] holding Indian passport number [Passport no] with expiry date [Date] who is also the accompanying spouse of [Wife’s Name]& my sister [Name] holding Indian passport number [Passport no] with expiry date [Date] to whom she shares a relationship of Sister in Law, confirm with full responsibility, that we have available Fixed Deposit Funds in the amount of [INSERT AMOUNT] United States Dollars / EUROS ($/€X00,000,000.00), which are being held in Account Number [INSERT ACCOUNT NUMBER] at bnak [ Bank Name] with said maturity date [Date].


We further confirm that these funds are legally earned, good, clean, cleared funds of non-criminal origin and are free of any liens or encumbrances.


We would like to further state to you that; we both have no objection to [Wife’s Name] holding Indian passport number [Passport no] with expiry date [Date] to use or show the said funds towards Canada immigration purposes. The said funds are immediately available to her and can be easily en-cashed whenever she may require them.



The fixed deposit funds may be verified and confirmed from the responsible bank through inquiry via Telephone, Fax or E-Mail.



Yours sincerely,



____________________________ ___________________________

Name: Name:

Is the above letter correct or should I make some amendments to it.

Can someone please check and advise.

Your kind guidance is highly appreciated.

Thank You.

 

[bimale4bipeople]

Thank you once again. But will be possible for you to share the Letter format. Also do I need to get it notarized or no need.

In my opinion no need to notarize it since you both will be travelling and you both are related.

 

[read4u]

In my opinion no need to notarize it since you both will be travelling and you both are related.

Thanks. Can you please also look at the draft letter I shared. Does it seem fine to you. Or should I make some amendments to it.

 

[bimale4bipeople]

DATE:

To,

The Immigration Officer,

IRCC, Government of Canada,

Canada.


Ref: Express Entry Profile No.


Dear Sir/Madam,

I, [My Name](accompnying spouse) and my sister [Name] (non accompanying family member) confirm with full responsibility, that we have available Fixed Deposit Funds in the amount of [INSERT AMOUNT] UAE Dirham or INR(AED 000,000,000.00), which are being held in Account Number [INSERT ACCOUNT NUMBER] at bnak [ Bank Name] with said maturity date [Date].


We further confirm that these funds are legally earned, good, clean, cleared funds of non-criminal origin and are free of any liens or encumbrances.


We would like to further state to you that; we both have no objection to [Wife’s Name] to use or show the said funds towards Canada immigration purposes. The said funds are immediately available to her and can be easily en-cashed whenever she may require them.



The fixed deposit funds certficate (attached along this letter) from the bank provides you the confirmation and availability of these funds.



Yours sincerely,



____________________________ ___________________________

Name: Your name and passport number
Name: yours sister name and passport number and copy

Is the above letter correct or should I make some amendments to it.

Can someone please check and advise.

Your kind guidance is highly appreciated.

Thank You.

Made some changes plz chrck

 

[read4u]

Made some changes plz chrck

Thanks a lot.

 

[bimale4bipeople]

Thanks a lot.

Ru banking with EmiratesNBD ?

 

[read4u]

Ru banking with EmiratesNBD ?

No I am not. I am banking with Bank of Baroda in UAE. But the FD that I am planning to show is from another bank in India.

 

[bimale4bipeople]

No I am not. I am banking with Bank of Baroda in UAE. But the FD that I am planning to show is from another bank in India.

Ok, Ensure that you get the letter from the bank where the FD is and it should include that immidiate availability of funds if you liquidate your FD

 

[read4u]

Ok, Ensure that you get the letter from the bank where the FD is and it should include that immidiate availability of funds if you liquidate your FD

Noted with thanks. Shall do the needful.