Hi Experts,
Please help me with the query on proof of funds. Although i have checked threads but still have some serious doubts.
Detail 1:
My wife and I plan to apply for EE. Principal Applicant will depend on IELTS score (IELTS scheduled for next month). If all goes well, we wish to create a profile in November Inshallah. My salary account currently does not have 15000 CAD nor does my wife's salary account have it. However, by November, both our accounts should have that much money individually in respective accounts
Questions:
> What does CIC exactly ask for when they say show proof of funds?
> What does 6 months average mean?
> Considering my case, do you think we are safe with the approach to indovidually maintain the minimum balance by the time we apply, or get ITA?
> Can we give details of both our accounts to show proof of funds?
> Can we create a new join account and transfer some amount to it from this month so that by November (or by the time of ITA), we have 15000+ CAD in the joint account? Will CIC ask source of money into joint account? If yes, what should we show?
Detail 2:
> I have a car loan of 5000CAD against my salary account to be paid over the next year. My bank statements show loan recovery debit every month
Questions:
> Will this car loan have an adverse impact on the proof of funds?
Detail 3:
> My wife plans to buy a car in the meantime which will burden her with a loan of atleast 10,000CAD over the next 2 years
Questions:
> Do you think it is advisable for her to go ahead with this, considering she too could be a primary applicant. Will a tag of car loan on her account go against her chances?
Thanks a lot for patience in going through the above. Please answer soon.
Good Day !