Fixed deposit less than six months old

[arjun09]

HI All,
I am an Indian and have been working in US. I have lost my Indian bank account password and never used it for the last five years. I have been sending money to my family through my brother's account. Recently I have contacted my bank and reset my password so that I can deposit some money to do a fixed deposit and opened a fixed deposit on Jan 21st, 2020. I have received money from brother's account for the fixed deposit which is mine as I used to send to him. Now I have the fixed deposit letter from the bank and receipt but my bank statements were having 0 transactions for the months before Jan 2020 as I never used the account. My question is, is the fixed deposit which is less than six months old letter enough as the proof of funds or do I have to upload the last six months' statements? If I have to upload the last six months' statements, will having 0 transactions for the rest of the months and receiving the entire amount in a single transaction raise questions and affect my application? how to proceed in this situation?

 

[navinball]

you need to prove the money is yours and not borrowed. a recent large transaction will raise doubts.

 

[arjun09]

How can I do that? I sent large amounts of money to my brother account monthly. Will showing these transactions from my account and my brother account works? Or at this situation doing gift deed would be better? Can a gift deed obtained after receiving ITA?

 

[thephdguy]

How can I do that? I sent large amounts of money to my brother account monthly. Will showing these transactions from my account and my brother account works? Or at this situation doing gift deed would be better? Can a gift deed obtained after receiving ITA?

You can attach payslips, or statements of your US account which you used to send the money to your Indian bank account, specifically, those that show the transactions.

 

[arjun09]

@thephdguy thanks for your response. Yeah I have every proof that shows money belongs to mine. But I am afraid of how the visa officer interprets them once I uploaded them. I probably have to have write an explanation latter but I heard we only write that if we receive AOR. Here the doubt is if they send AOR or just reject the application. I want to be cautious before submitting it. If the fixed deposit letter which was opened two months back is enough, then I am all set but most the threads here talk about proving that money is mine which is difficult. I am confused about how to proceed

 

[thephdguy]

@thephdguy thanks for your response. Yeah I have every proof that shows money belongs to mine. But I am afraid of how the visa officer interprets them once I uploaded them. I probably have to have write an explanation latter but I heard we only write that if we receive AOR. Here the doubt is if they send AOR or just reject the application. I want to be cautious before submitting it. If the fixed deposit letter which was opened two months back is enough, then I am all set but most the threads here talk about proving that money is mine which is difficult. I am confused about how to proceed

Are you talking about the Invitation To Apply (ITA)? Once you receive the ITA, you are able to upload a Letter Of Explanation (LOE) which will be read by the officer assigned to your case. If your CRS is larger than the cut-off score whenever a draw is held for your EE stream, you'll receive an ITA. You'll have 60 days (or more because of the COVID-19 situation) to provide all the documents including the LOE. You need to prove that 2-month bank account money is yours, this is definitely true. If you don't it will raise flags.

Is it difficult to show payslips from your job? You never opened an US bank account? It is hard to prove that the money is originally yours if there is no way to trace it back to you. Maybe a gift deed from your brother could help, but I'm not sure that is possible. I think that the safest course of action would be to wait it out, until you have 6 monthly statements that show no transactions. This is just my opinion.

 

[arjun09]

Yeah it is like writing these are my payslips, I earn this much every month and sent this much to my brother. Now my brother sent me this much to me as I needed and here are the statements for all of these transactions. It is very easy to show this to a person directly than writing a story and attaching all the documents and letting them decide how they perceive that info.
Even, for example, you interpreted my question differently and answered something that I am aware of about ITA, 6months LOE etc..where my question about visa officer rejecting application before he requests for clarifications. This is what I am afraid of. I am not professional enough to write LOE in way that they will understand the same way I want them to understand. I looked at many threads where they talk about gift deeds. I am looking for that option. Once I decide I will liquidate PF funds, send to my father and ask him to write a check, which then is used as a gift deed. Sorry for confused questions and length answers

 

[Leemosl]

Yeah it is like writing these are my payslips, I earn this much every month and sent this much to my brother. Now my brother sent me this much to me as I needed and here are the statements for all of these transactions. It is very easy to show this to a person directly than writing a story and attaching all the documents and letting them decide how they perceive that info.
Even, for example, you interpreted my question differently and answered something that I am aware of about ITA, 6months LOE etc..where my question about visa officer rejecting application before he requests for clarifications. This is what I am afraid of. I am not professional enough to write LOE in way that they will understand the same way I want them to understand. I looked at many threads where they talk about gift deeds. I am looking for that option. Once I decide I will liquidate PF funds, send to my father and ask him to write a check, which then is used as a gift deed. Sorry for confused questions and length answers

Hi,
I am facing a similar issue. In my case,
1. I have created fixed deposits which get matured after 6 months. After maturing some fixed deposits were transferred back to my savings account and I have created new fixes deposits with that money. This has happened within 6 months so the available fixed deposits are less than 6 months old. Is this going to be a problem? Should I include a letter explaining what has happened here? Or are there any additional documents I have to provide to make my fixed deposits valid proof of funds. I am planning to attach a statement for 6 months
2. Additionally do they cross check our income vs the total balance we have ? I have some money (fixed deposits) I have recieved after selling a land my father got me (this happened before 6 months) which is more than I could have collected from my salary money. Also this amount is not needed to show the amount I have mentioned in my account. This is extra but it is there in the letters and statements. So I was wondering if it is going to be a problem.
3. Last question is if the amount I mention in the application should be the amount I show in my proof of funds? Is it okay to add a amount like $35,000 (as this is what I am planning to bring to Canada) for 2 people but have extra cash in my proof of funds?
Please let me know what happened with your case. Thank you.