A complete way to nail 'Source of fund' dilemma!

[Eoldek]

Hello anujgupta84

First off, thank you for spending time to answer all our inquiries.

My question is: If on January 2016, I get a transfer from a family member of $ 14000 CAD, and keep a balance above $12000 for more than 7 months...(while making small purchases, and debiting small money monthly)...do you think, 6 months bank statements and letter from the bank with my 6 months average balance is enough for CIC, or they will ask for the $ 14000 gift transfer?

I appreciate your response.

 

[Asivad Anac]

Hello anujgupta84

First off, thank you for spending time to answer all our inquiries.

My question is: If on January 2016, I get a transfer from a family member of $ 14000 CAD, and keep a balance above $12000 for more than 7 months...(while making small purchases, and debiting small money monthly)...do you think, 6 months bank statements and letter from the bank with my 6 months average balance is enough for CIC, or they will ask for the $ 14000 gift transfer?

I appreciate your response.

You won't need to prove source of funds as they would've been in your account for more than 6 months.

 

[Ramniwas]

Hello anuj
Thanks for sharing such a useful information with us.
Pls solve my query.
As a proof of funds I have a gift deed from my father but If show his bank statement there is a very less amount left in his account (1 lac) if it does affect my application.
Also what I have to show in his net worth.
Thanks in advance.

 

[anujgupta84]

Hello anuj
Thanks for sharing such a useful information with us.
Pls solve my query.
As a proof of funds I have a gift deed from my father but If show his bank statement there is a very less amount left in his account (1 lac) if it does affect my application.
Also what I have to show in his net worth.
Thanks in advance.

The motive to show the Net worth is to prove the Visa Officer that your Father still have enough money to live happily after gifting you the funds. It adds clarity to your case.

 

[ravs77]

I have few questions:

Recently I submitted by application to Ontario and in my application I have shown funds of 20000 against requirement of 18500

- Do I need to maintain same balance i.e. 20000 CAD in my account all the times , till Ontario respond ?
- Or do I need to maintain 18500 as balance
- Can I use some part of it and then fill it bank within 10-15 days ? Or 18500 min should stay always in my account ?
- Can I get them into fixed deposit so I earn more out of it instead of them sitting ideal in saving account ?

 

[Ramniwas]

The motive to show the Net worth is to prove the Visa Officer that your Father still have enough money to live happily after gifting you the funds. It adds clarity to your case.

Does it affect my application by showing this much amount in my father's account or do I arrange more money.

 

[anujgupta84]

I have few questions:

Recently I submitted by application to Ontario and in my application I have shown funds of 20000 against requirement of 18500

- Do I need to maintain same balance i.e. 20000 CAD in my account all the times , till Ontario respond ?
- Or do I need to maintain 18500 as balance
- Can I use some part of it and then fill it bank within 10-15 days ? Or 18500 min should stay always in my account ?
- Can I get them into fixed deposit so I earn more out of it instead of them sitting ideal in saving account ?

Don't touch the funds that you showed as POF. Not maintaining 20k would be ok, but don't let the amount slip below 18.5k untill PPR.

 

[anujgupta84]

Does it affect my application by showing this much amount in my father's account or do I arrange more money.

How will your Father survive with just 1 lakh in his account? Does he have any property, income from rent, etc?

 

[Ramniwas]

How will your Father survive with just 1 lakh in his account? Does he have any property, income from rent, etc?

He has 10 acre of agriculture under his name and a car and annual in on of around 5 lacs

 

[msqureshi]

I have just received my Notification of Interest from Ontario. The problem is that I have funds in Term Deposit for 1 year booked with a bank (TDR for 1 year). Now, the problem is that the TDR does have any statement. The bank can only issue me a certificate stating that I have got xxxxx amount outstanding in my TDR which is booked with the Bank. Please guys help me what to do. Will it be acceptable or not??? The application clearly says 6 months bank statement. But there is no statement in this Term Deposit in which I have booked my money...

Thanking you in anticipatiom
EE Score 432 :-[

 

[anujgupta84]

He has 10 acre of agriculture under his name and a car and annual in on of around 5 lacs

That's what the Net worth certificate will show. His Assets vs Liabilities. Just get it made from a Chartered Accountant. Don't pay more than Rs. 500-1000.

 

[anujgupta84]

I have just received my Notification of Interest from Ontario. The problem is that I have funds in Term Deposit for 1 year booked with a bank (TDR for 1 year). Now, the problem is that the TDR does have any statement. The bank can only issue me a certificate stating that I have got xxxxx amount outstanding in my TDR which is booked with the Bank. Please guys help me what to do. Will it be acceptable or not??? The application clearly says 6 months bank statement. But there is no statement in this Term Deposit in which I have booked my money...

Thanking you in anticipatiom
EE Score 432 :-[

A Term deposit is a valid POF. Dont worry. Most of the people have used Fixed Deposits as a POF.

 

[sraj07]

Hi Anuj ,

How are you ? You landed !! wow congrats , are you still in the AOR discussion group ?

 

[tonero]

Applied with under $3000 lets see what happens , im already here and working tho so i wasent sure what to do

 

[anujgupta84]

Hi Anuj ,

How are you ? You landed !! wow congrats , are you still in the AOR discussion group ?

Hi sraj07.. thanks
No I am not a part of that group. All the best with your application ;D