Detail of loans

[Omer Terino]

Hi,
Need advise if along with proof of fund we also need to submit details of all loans availed from banks and present liability there against.
I have received conflicting advices from consultants, will really appreciate clarity over this, thanks

 

[mr.preetsingh]

Hi,
Need advise if along with proof of fund we also need to submit details of all loans availed from banks and present liability there against.
I have received conflicting advices from consultants, will really appreciate clarity over this, thanks

Not required technically. I did not do that.

 

[Omer Terino]

Thanks for reply, kindly also clarify if we need a letter from the bank of nil outstanding or good conduct or something like that? (This is besides proof of funds of course)

 

[pizzaboy99]

It's required.

Proof of funds
Purpose
To confirm whether the applicant meets the low-income cut-off (LICO), assessed by the amount of money they hold compared to the number of people in their family

Document requirements

• The applicant should provide an official letter(s) from one or more financial institutions that lists all current bank and investment accounts as well as outstanding debts, such as credit card debts and loans.
  • o The letter(s) must be printed on the letterhead of the financial institution and must include the applicant’s name, the contact information of the financial institution (address, telephone number and email address), the account numbers, the date each account was opened and the current balance of each account as well as the average balance for the past six months.
• Other documents may also be requested, as necessary.

Source: https://www.canada.ca/en/immigration-refugees-citizenship/corporate/publications-manuals/operational-bulletins-manuals/permanent-residence/express-entry/applications-received-on-after-january-1-2016-completeness-check.html

 

[mr.preetsingh]

Thanks for reply, kindly also clarify if we need a letter from the bank of nil outstanding or good conduct or something like that? (This is besides proof of funds of course)

If you ask me, it was not required in my case.

 

[catalyst441]

Hi,
Need advise if along with proof of fund we also need to submit details of all loans availed from banks and present liability there against.
I have received conflicting advices from consultants, will really appreciate clarity over this, thanks

It is highly recommended that you submit the details of all loans.

With regards to any document you submit, follow one basic principle, 'more is always better than less'.

 

[Omer Terino]

Thanks to all everyone for the replies, really appreciate your taking out time and sharing your experience.