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

[anujgupta84]

Hi Anujgupta, FD's are accepted by both SINP and CIC, right? I saw a note in a different forum that they are not accepting it.

Did you showed FD as POF? Just to make sure that I'm save. :'(

You are absolutely safe! Don't worry. I used my savings account but even FD works just fine. Relax!!

 

[sam1181]

Hi Anuj,

Is it OK to show all fund required to support 3 person into fixed deposit?

I have got Fixed deposit 70 % in my name (Principal Applicant) and 30% in my spouse's name.

All these FD's are less than 1 month old.

need your suggestion on this.

 

[Stanlee]

Hi Anuj,

Is it OK to show all fund required to support 3 person into fixed deposit? - Yes, you can.

I have got Fixed deposit 70 % in my name (Principal Applicant) and 30% in my spouse's name. - For the 30% of the amount which is in your spouse's name you would need to get a self declaration from your spouse stating that the funds are for migration purposes and he/she does not have any objection for the same.

All these FD's are less than 1 month old. - It does not matter. You may have to show the source of these funds so that the case officer is convinced that it did not originate from some loan/borrowed funds.

need your suggestion on this.

 

[anujgupta84]

Hi Anuj,

Is it OK to show all fund required to support 3 person into fixed deposit?

I have got Fixed deposit 70 % in my name (Principal Applicant) and 30% in my spouse's name.

All these FD's are less than 1 month old.

need your suggestion on this.

Stanlee, answered it bang on! All the best sam1181!

 

[sam1181]

Thanks Stanlee for responding to my queries.

 

[sam1181]

Stanlee, answered it bang on! All the best sam1181!

Thanks Anuj for the best wishes.

 

[subramani_vs]

Stanlee, do you have any format for the spouse self declaration document?

 

[StAnger]

Stanlee, do you have any format for the spouse self declaration document?

Self declaration in this case has to be such that it is accepted by the bank and they can allow you to withdraw funds.

In this case, as far as my knowledge is concerned, you wont need any declaration as the account is shared by both the applicants.

 

[subramani_vs]

Self declaration in this case has to be such that it is accepted by the bank and they can allow you to withdraw funds.

In this case, as far as my knowledge is concerned, you wont need any declaration as the account is shared by both the applicants.

I'm the primary applicant. The FD receipt has both my spouse name and my father name as the account is operated as Either or Survivor (ERS). Now let me know if a self declared document from my spouse is required.

 

[syeduzairhaider]

As per cic you need to have canadian 12,164 dollars for a single applicant. However, i am confused regarding the six months average balance.

My last 5 months average balance is 10,500 canadian dollar. i will be saving 1500 dollar via my salary in the next two months. so my average six months balance won't be 12,164. However, the ending balance will be 12,164. is it fine or do i need to show them source of funds for the 1500 dollar, where it came from?

Looking forward to a favorable response.

 

[StAnger]

As per cic you need to have canadian 12,164 dollars for a single applicant. However, i am confused regarding the six months average balance.

My last 5 months average balance is 10,500 canadian dollar. i will be saving 1500 dollar via my salary in the next two months. so my average six months balance won't be 12,164. However, the ending balance will be 12,164. is it fine or do i need to show them source of funds for the 1500 dollar, where it came from?

Looking forward to a favorable response.

You are good to go.

The purpose of average balance is to see for any large teansactions which could be due to loans. You need not have the average above minimum POF.

So you are fine.

 

[Phaphy5]

Hello everyone,
Pls what is the likelihood of CIC requesting for another Account statement after application despite providing court affidavit, Deed of gift, statement of account and letter of explanation at the time of application. The reason am asking this is that my country's currency just dropped and my current balance is not up to the minimum balance required.

 

[Evernabin]

Get a signed self declaration on plain paper. Submit that along with proof of actual monetary transaction into your account and the bank letter with all details required by CIC including 6 months average balance or 6 months of bank statements instead. That would suffice. Personal experience.

All the best!

Hello Asivad,

I have been following your posts quite some time and I really appreciate your efforts. I have got PT notification from Ontario. My six month average bank balance will hugely vary to that of my would be current balance and I am planning to show a monetary gift from my dad through proper bank transactions. The problem is we don't have any local legal deeds to authenticate such gifts in our country. Please suggest the way out. Will be hugely grateful if you could suggest some formats. Thanks in advance

 

[KingBing]

Hi,

I applied on 3rd December 2015 and at that time proof of funds requirements were CAD 14853 for two people, but now they increased that amount, although the increment is minor but I have not extra money in my account which can cover or meat this increment. My background check is in process, does this problem affect my application or does old proof of funds requirement will apply in my case?
how does CIC verify our balance from bank? because as per my knowledge Banks do not share accounts information other than account holder.

Thanks in advance

Regards

 

[anujgupta84]

Hello everyone,
Pls what is the likelihood of CIC requesting for another Account statement after application despite providing court affidavit, Deed of gift, statement of account and letter of explanation at the time of application. The reason am asking this is that my country's currency just dropped and my current balance is not up to the minimum balance required.

It's highly unlikely that something of that sort will happen. Unless it's a total catastrophe!!