Express Entry - Proof of Means of Support (Financial profile?)

[vishalgirisagar801]

I am a lot confused with Proof of funds document. Below is the requirement from CIC.


"Express Entry - Permanent Residents
If you are applying for permanent residence in Canada, you must provide an official letter issued by your financial institution indicating your financial profile. This must:
list of all your bank (chequing and savings) and investment accounts, the account numbers, dates each account was opened and the balance of each account over the past six months,
list all outstanding debts, such as credit cards and loans,
be printed on the letterhead of the financial institution, and include your name and the contact information of the financial institution (address, telephone number and e-mail address)."


Now the questions is as follows.
1. What is the difference between financial profile and bank statements or letter from bank?
2. Which is the financial institute which give details of all the banks and all the accounts in a single statement?
3. Can I just take statement from one bank which has enough funds and forget about the other accounts and loans?

Please advice on this.

 

[ashwani.m]

Financial institution means your bank only.. If wish to provide more than 1 account details, you'll have to give letters from each bank. One bank account will also work which has required amount.

 

[ay238]

Is the primary applicant supposed to have all the funds or is the primary applicant and spouse's fund considered as one?

 

[vishalg]

Is the primary applicant supposed to have all the funds or is the primary applicant and spouse's fund considered as one?

you can utilize spouse's funds. You need to get a declaration that he/she allows you to utilize the funds for immigration and will be accompanying the primary applicant.

 

[admodi86]

Honestly I am not sure if banks issue such letter. Do they? My account is in SBI and I have fund required. Should I just give bank statements of 6 months with stamp of bank on it? Will it suffice? Also, I have a car loan on my name. I can get it transferred if needed, but first I want to know if it will be an issue?

 

[bluewaters87]

If i have an offer letter from canadian Employer with position and salary .

Is that suffice instead of showing finance documents ?

 

[DelPiero07]

If i have an offer letter from canadian Employer with position and salary .

Is that suffice instead of showing finance documents ?

If you have a valid job offer for which you're claiming 50/200 points then you are not required to provide POF.

 

[ay238]

Honestly I am not sure if banks issue such letter. Do they? My account is in SBI and I have fund required. Should I just give bank statements of 6 months with stamp of bank on it? Will it suffice? Also, I have a car loan on my name. I can get it transferred if needed, but first I want to know if it will be an issue?

Actually I have this question too. I have a house loan of 10 Lakh, which is more than the money I have in both our accounts. So when calculating financials, is this taken into account?

 

[vishalg]

Honestly I am not sure if banks issue such letter. Do they? My account is in SBI and I have fund required. Should I just give bank statements of 6 months with stamp of bank on it? Will it suffice? Also, I have a car loan on my name. I can get it transferred if needed, but first I want to know if it will be an issue?

Indian banks issue such letters
Car loan isn't a problem

Actually I have this question too. I have a house loan of 10 Lakh, which is more than the money I have in both our accounts. So when calculating financials, is this taken into account?

no issues with home loan. Explain in an LOE.

 

[ay238]

you can utilize spouse's funds. You need to get a declaration that he/she allows you to utilize the funds for immigration and will be accompanying the primary applicant.

Is there a format for such a letter?