Proof of Funds Doubt

[rahuln]

In University category, is payment of 1st year fees + GIC enough or proof of additional funds should be there? My parents are going to sponsor me, so for the additional proof of funds, what should be their ITR?

 

[selvakk]

In University category, is payment of 1st year fees + GIC enough or proof of additional funds should be there? My parents are going to sponsor me, so for the additional proof of funds, what should be their ITR?

Follow this check list

http://www.cic.gc.ca/english/pdf/kits/forms/IMM5957E.pdf

 

[selvakk]

In University category, is payment of 1st year fees + GIC enough or proof of additional funds should be there? My parents are going to sponsor me, so for the additional proof of funds, what should be their ITR?

GIC and payment of first years fees is enough, no need of any other proof.

 

[rahuln]

GIC and payment of first years fees is enough, no need of any other proof.

Thanks a lot. I followed that checklist but couldn't find this written anywhere.

 

[selvakk]

Thanks a lot. I followed that checklist but couldn't find this written anywhere.

It is written in the proof of funds. It is either GIC and 10000 USD or another option which I don't remember.

 

[rahuln]

PREFERRED OPTION for proof of funds: evidence of purchase of a special Guaranteed
Investment Certificate (GIC) from a participating Canadian financial institution, in the amount of
$10,000 CAD to cover living expenses for your first year in Canada and evidence of paymentfor
your tuition.

This is what was written there. Now evidence for payment of tution is there but for 1 term or 1 year, I don't know

 

[selvakk]

PREFERRED OPTION for proof of funds: evidence of purchase of a special Guaranteed
Investment Certificate (GIC) from a participating Canadian financial institution, in the amount of
$10,000 CAD to cover living expenses for your first year in Canada and evidence of paymentfor
your tuition.

This is what was written there. Now evidence for payment of tution is there but for 1 term or 1 year, I don't know

1 year is only for SDS stream. As far as I know 1 term is the standard tuition deposit required, so that should be sufficient.

 

[Fabiog]

Are these cashable GICs? , I might use a Canadian bank

 

[selvakk]

Are these cashable GICs? , I might use a Canadian bank

Yes, once you reach Canada you can walk into any branch in the bank that you chose to redeem it. You will get 2000 CAD upfront and then 610 odd per month. This GIC earns interest until you reach Canada.

 

[rahuln]

1 year is only for SDS stream. As far as I know 1 term is the standard tuition deposit required, so that should be sufficient.

Got it. Thanks.