Fixed Deposit as Proof of Funds

[Kirk317686]

not needed if its more than 6 months. but since its just borderline 6 months get the gift deed just in case. it does not matter if its from a personal loan or savings. they dont need proof of source of source.

Ya but in the gift deed format my dad has to mention it was from his savings right which is not the case.

 

[chhabra.dkc]

Hi All,

I have some questions about POF, hopefuly some members can help me understand this better.
I have X amount in my wife's account which I want to use as a POF being a primary application under EE.
I am thinking to get that amount in my account and get a gift deed signed by wife.

In addition, my mother has transfered majority of the funds in my account about a month back and I am planning to get a gift deed for that as well.

Will this option work okay?
What else do I need to attach if this option is okay? Do I need to attach my wife's 6 month back statement as well.

Looking forward to hear from you.

Best,
Deepak

 

[garfieldm89]

I did the same and no one asked for POF. Just ensure you show some liquid cash in your account and attach the FD bond paper too. If possible try to show around 20% more funds than your requirement.

Hi, I am also planning to show FD as POF completely. but the amount will be first sent to my account by my father. How should I show bank statements in that case or liquid cash, because it will show a big transaction less than 6 months old.

 

[sadhak]

Hello,

Can anyone please answer my question. I live in US and have a bank account in US but I do not have a bank account in India and am taking a FD from a XYZ bank in India and also will get a gift deed for the source of the money. Is that fine?

Please let me know.

Thanks in advance

 

[kayshapvivekk]

I just showed my FD receipts which has maturity of 2015-2020 along with bank statemet of 6 months. just 2 papers and all was fine.

HI I am planning to submit a bank certificate where I have my FD along with the FD receipt and my salary slips along with bank statement of 6 months as supporting documents, will that be OK? I created the FD with SBI in Feb so by Aug it will be 6 months. And my salary bank is Citi.

Please advice

 

[rocketman0101]

Yes, i got PR and already landed. For FD, I just submitted the color scanned copies of bank letter and original FD.

Was your FD 6 months old at that time? I understand that the bank statements need to be for at least 6 months, but is it the same case for fixed deposit as well?

 

[viki1805]

not needed if its more than 6 months. but since its just borderline 6 months get the gift deed just in case. it does not matter if its from a personal loan or savings. they dont need proof of source of source.

part of my POF is a deposit that I invested in Sept 2015 and it will mature in Sept 2018. This is part of my POF letter. will this be accepted ? or it shouldn't be in the form of fixed deposits at all and the entire amount should be ready to use liquid cash ?

 

[hope2018]

part of my POF is a deposit that I invested in Sept 2015 and it will mature in Sept 2018. This is part of my POF letter. will this be accepted ? or it shouldn't be in the form of fixed deposits at all and the entire amount should be ready to use liquid cash ?

Acceptable but get written from bank on letter that these funds can be liquidated anytime.

 

[viki1805]

Acceptable but get written from bank on letter that these funds can be liquidated anytime.

awesome. thanks @hope2018

 

[viki1805]

Acceptable but get written from bank on letter that these funds can be liquidated anytime.

@hope2018 on my POF letter, it has been stated that those fixed deposits may be liquidated on Sept 1 2018. do you think that would work ? my deadline to submit the application is Sep 12. I was planning on submitting my application immediately after my meds this week.

 

[hope2018]

@hope2018 on my POF letter, it has been stated that those fixed deposits may be liquidated on Sept 1 2018. do you think that would work ? my deadline to submit the application is Sep 12. I was planning on submitting my application immediately after my meds this week.

Yes even that is fine.

 

[kanada07]

If the FD was created more than 6 months ago, nothing needed. If it was created within the last 6 months, you'll need to show source of funds.

Hi Asivad,
Can I show the FD in my Salary account?

Also, if the FD is made in a private bank like ICICI or HDFC, does it matter?

I will create my EOI profile this week. Also, I may get the whole required amount from my parents and create FD soon. If I get my ITA in the coming months, will they see my current balance or last six months of balance?

Also, should I create a new account and get the money transferred to that account? Or should it be an old account?

 

[kirankb]

Any funds older than 6 months at the time of submitting post ITA application doesn't require you to validate or provide source of funds. Fixed deposits do not expire - they do mature. Instruct your bank to extend the fixed deposit for another year whenever it matures.

Can I show the FD certificate from bank, which I'm maintaining in bank for over 6 months, at the Port of Entry... in canada

 

[kirankb]

Fixed deposits are accepted by CIC. I shown just one FD for INR 10 lacs along with bank letter for that FD

can the same be shown at the Port of Entry as well

 

[kirankb]

Yes, i got PR and already landed. For FD, I just submitted the color scanned copies of bank letter and original FD.

Then what did you show at the Port of Entry as proof of funds