Applied for Express Entry and received ITA. Need advise regarding POF.

[ThePrinceFaz]

Hi All

I am an EE applicant from India and I have received an ITA with a deadline of application submission in December-2020. I need some advice regarding proof of funds. I have the following funds available with me:

1) Provident Fund (PF) - ongoing for past 3 years, currently at 1.25 lacs.
2) Bank balance - 7 lacs, out of which 6 lacs were deposited from various sources in July-2020.

Even though I meet the minimum requirement of available funds of CAD12,960 (I'm a single applicant), I am worried that because I did not have the money with me for at least 6 months, my application would be rejected. Even if I wait to submit my application in December, my bank statement would show a constant balance of 7 lacs for the past 5 months only.

I am confused between one of the 3 options below:
a) should I decline this ITA and hope to get one again in the subsequent draws, so that the application deadline moves forward and enables me to show the minimum required balance in my account for more than 6 months?
b) should I proceed with the application right away and hope for it to be accepted because I have the minimum required funds available, albeit not for 6 months?
c) should I delay the application submission till just before the deadline in December-2020 to maximize the time the money has been in my account? (It would still be 5 months and not 6.)

Please let me know what you think about how I should proceed.

Thanks!

 

[FurqanM]

What do you mean by various sources? Can you provide evidence and reason of these transfers?

I will give you my example, there was a sudden influx of money in my account because I had sold my car to get minimum funds required for application. I gave the source of deposit which was in form of the sale deed for the car, scanned copy of cheque received from the buyer and the bank statement.

 

[ThePrinceFaz]

These transfers are from my father's clients, who, instead of paying directly to him, deposited the money into my account (since I had asked my father to deposit some money into my account to be able to show the minimum balance, he did it this way instead of getting the money into his account first and then transferring it to me). So showing the evidence / reason of these transfers can be a little complicated since I'll have to pull up records of transactions from my father's business.

If I am able to document all the evidence properly, would it mean I can go ahead with option b) or c)?

 

[FurqanM]

If its a hassle and potential for confusion, I would go for option A. It will also depend what are your calculated CRS points. Is there anything in your circumstances that may decrease the points? Such as age or marital status? If you are confident you will get enough CRS points in the next draw, then you can reject the current ITA.