Doubt regarding POF

[ajay1989]

HI Guys,

I have a doubt regarding POF. My POF is scattered across three fixed deposits

1st and 2nd one is from Feb 2014 to Feb 2015.
3rd one is from july 2014 to July 2015.

1. Can I use 1st and 2nd one as POF since they are not atleast 6 months old
2. Can I use the third one since it is expiring in July end?

Thank you in advance for help

Ajay

 

[Asivad Anac]

HI Guys,

I have a doubt regarding POF. My POF is scattered across three fixed deposits

1st and 2nd one is from Feb 2014 to Feb 2015.
3rd one is from july 2014 to July 2015.

1. Can I use 1st and 2nd one as POF since they are not atleast 6 months old
2. Can I use the third one since it is expiring in July end?

Thank you in advance for help

Ajay

POF need not be 6 months old. That requirement is probably just to ensure that the funds are unencumbered.

You can use any combinations of these funds to satisfy the POF requirements. You'll just need your bank(s) to provide the certificate/statement in the format that CIC requires or as close to that as possible.

Purpose

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

Document requirements

The applicant should provide official letter(s) from financial institution(s) which list all current bank and investment accounts, as well as outstanding debts such as credit cards and loans. The letter(s) must be printed on the letterhead of the financial institution and must include applicant’s name, the contact information of the financial institution (address, telephone number and e-mail address), the account numbers, dates of when each account was opened and the current balance of each account as well as the average balance in the past six months. Other documents may also be requested, as necessary.

Individuals who must submit this documentation

The principal applicant

 

[ajay1989]

POF need not be 6 months old. That requirement is probably just to ensure that the funds are unencumbered.

You can use any combinations of these funds to satisfy the POF requirements. You'll just need your bank(s) to provide the certificate/statement in the format that CIC requires or as close to that as possible.

Purpose

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

Document requirements

The applicant should provide official letter(s) from financial institution(s) which list all current bank and investment accounts, as well as outstanding debts such as credit cards and loans. The letter(s) must be printed on the letterhead of the financial institution and must include applicant's name, the contact information of the financial institution (address, telephone number and e-mail address), the account numbers, dates of when each account was opened and the current balance of each account as well as the average balance in the past six months. Other documents may also be requested, as necessary.

Individuals who must submit this documentation

The principal applicant

Thank you Asivad Anac.

 

[MG84]

POF need not be 6 months old. That requirement is probably just to ensure that the funds are unencumbered.

You can use any combinations of these funds to satisfy the POF requirements. You'll just need your bank(s) to provide the certificate/statement in the format that CIC requires or as close to that as possible.

Purpose

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

Document requirements

The applicant should provide official letter(s) from financial institution(s) which list all current bank and investment accounts, as well as outstanding debts such as credit cards and loans. The letter(s) must be printed on the letterhead of the financial institution and must include applicant's name, the contact information of the financial institution (address, telephone number and e-mail address), the account numbers, dates of when each account was opened and the current balance of each account as well as the average balance in the past six months. Other documents may also be requested, as necessary.

Individuals who must submit this documentation

The principal applicant

Hi Asvaid,

My Bank has refused to provide a personalised letter.

I have a standard letter saying I have been a customer for the last few years and I have roughly 8 to 9 months of bank statement.

Will this be acceptable or is it crucial to get the letter from the bank ?

Thanks a lot in advance

 

[Asivad Anac]

Hi Asvaid,

My Bank has refused to provide a personalised letter.

I have a standard letter saying I have been a customer for the last few years and I have roughly 8 to 9 months of bank statement.

Will this be acceptable or is it crucial to get the letter from the bank ?

Thanks a lot in advance

What CIC needs to know is that you have access to at least as much money as required and that this money isn't borrowed from anyone. As long as your documents can convincingly prove that, you are good to go. Attach an LOE if you are sending in non-standardized letter from your bank to explain the background.