Kavya, JS;
I'm glad that you found the information useful.
All,
Some more information about funds, duration of funds in bank, and type of proof required by VO. I'd posted it in another thread but reposting it here to make it part of this existing thread.
From what I've seen and observed in various forums and seminars, CHC wants to determine the financial condition of a candidate/candidate family to ensure that S/He is able to finance his/her studies.
They use a lot of mechanism to evaluate the "overall" financial condition of the candidate/sponsor. The keyword is overall.
Bank Statement, FD, PF, IT Returns, Study loan etc are few of the mechanism. They prefer study loan over all the other proofs.
In Ideal condition, they want the funds to be present in the bank account for 4 months.
However, the 4 months period is the ideal timeframe. I've seen many cases where the funds were in the account for few weeks and they still received the visa because the VO determines the "overall" financial condition.
If you have time, then the best strategy is to wait for 4 months. If you don't have that much time, go ahead and apply in confidence.
Just as there is no guarantee of getting the visa even after 4 month of having funds in the bank, there is no guarantee of rejection if you submit showing 1 month previous funds.
We don't live in an ideal world and this reflects to our visa applications as well.
However, it will help if you write a strong SOP and mention your current situation and interest in the course, and your intention to return back along with your application.
Again, I'm not a visa expert and these are my assumption. You might want to consult others before making a decision.
However, seeing the processing time delays, please apply as soon as possible to get the visa in time.
GS