Dilemma - Proof of Funds :(

[saudkhan418]

hi,

My fsw application received at cio on 5th Nov 2014.. Now my funds are lying idle in my account and as a finance graduate i want to earn some profit on it..so can i invest my amount in stocks or mutual funds or i have to keep the money intact in my account?? what if LVO ask for me about updated account statement later when i got MR?? at that time can i send them mutual fund statement? will they accept it? plz guide

Regards,

 

[amit.synergy]

You can check the cic website, MF are not acceptable as they do not guarantee the fixed amount to be paid and the amount depends on the market.

 

[saudkhan418]

You can check the cic website, MF are not acceptable as they do not guarantee the fixed amount to be paid and the amount depends on the market.

It means that if CIC ask me for updated statement later then i hv to convert my investment into cash and then provide account statment :

 

[sk1979]

Yes, it seems like you have to. One more thing that you have to keep the documentation of investment readily available to justify the big chunk of money entered into your account ;D. If the document is in another language then you have to translate it and notarize in order for it to be accepted.