Proof of Funds

[dipen_14]

@mr.preetsingh @dan_and @scylla

My wife is the primary applicant and I'm tagging along. I have a query for proof of funds:

1) She has taken a bank confirmation on the bank letterhead (UBI Bank) which states the closing balance at the end of each of the past 6 months. The bank confirmation also mentions the closing balance as on the date of the letter issued and the fixed term deposits held by her amounting to INR 10 lakhs. In the given case, is there any requirement to scan the bank passbook along with the receipt of fixed term deposit? Also note that when the bank had given her the letter of balance confirmation for past 6 months only my wife's name is mentioned on it.

2) Another doubt in continuation to point no. 1 is that, the account held by her is a joint account with her parents (UBI Bank) and all the money in the account belongs to my wife only. In fact she is the primary account holder and parents are joint account holders. Further, her parents name is mentioned on the fixed deposits after my wife's name. Can we get a NOC from her parents stating that she can use the full amount in the manner she wishes i.e. the savings account balance and the fixed deposit funds? Will this be a problem in the process?

3) She has also take a loan against a property from another bank (Axis Bank) where she doesn't have an account and EMIs are paid from her salary account (Kotak Bank). Is it ok if we don't show the loan taken ? The reason being that, the loan is just 15% of the property value and in case of any default in EMI payment, the bank will liquidate the property to regain the loan amount

 

[mr.preetsingh]

@mr.preetsingh @dan_and @scylla

My wife is the primary applicant and I'm tagging along. I have a query for proof of funds:

1) She has taken a bank confirmation on the bank letterhead (UBI Bank) which states the closing balance at the end of each of the past 6 months. The bank confirmation also mentions the closing balance as on the date of the letter issued and the fixed term deposits held by her amounting to INR 10 lakhs. In the given case, is there any requirement to scan the bank passbook along with the receipt of fixed term deposit? Also note that when the bank had given her the letter of balance confirmation for past 6 months only my wife's name is mentioned on it.

2) Another doubt in continuation to point no. 1 is that, the account held by her is a joint account with her parents (UBI Bank) and all the money in the account belongs to my wife only. In fact she is the primary account holder and parents are joint account holders. Further, her parents name is mentioned on the fixed deposits after my wife's name. Can we get a NOC from her parents stating that she can use the full amount in the manner she wishes i.e. the savings account balance and the fixed deposit funds? Will this be a problem in the process?

3) She has also take a loan against a property from another bank (Axis Bank) where she doesn't have an account and EMIs are paid from her salary account (Kotak Bank). Is it ok if we don't show the loan taken ? The reason being that, the loan is just 15% of the property value and in case of any default in EMI payment, the bank will liquidate the property to regain the loan amount

1. If its a Bank Certificate on Bank Letter head (not on a blank A4 paper) mentioning balance as on date, Its absolutely what CIC is looking for.
2. NO, The account should be on your wife name only. You can be a join account holder however not her parents.
3. No need to mention Loan bank account here.

 

[dipen_14]

1) Yes it is a bank certificate on the bank letterhead stating the closing balance of each of the past 6 months along with the closing balance as on date.
So, is it alright to not upload the scanned bank account statements (passbook and fixed deposit receipt)?

2) Is it ok to get a gift deed from parents stating that the fixed term deposit amount and any amount in the savings account can be completely used by their daughter and that the daughter is not required to return the money to the parents ?

3) Ok.

 

[mr.preetsingh]

1) Yes it is a bank certificate on the bank letterhead stating the closing balance of each of the past 6 months along with the closing balance as on date.
So, is it alright to not upload the scanned bank account statements (passbook and fixed deposit receipt)?

2) Is it ok to get a gift deed from parents stating that the fixed term deposit amount and any amount in the savings account can be completely used by their daughter and that the daughter is not required to return the money to the parents ?

3) Ok.

1. Not required.
2. Gift deed refers to the money transferred from one account to another.