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Funds required for OINP

I

ibk

Star Member
Aug 1, 2015
110
1
How much amount of bank balance I need to show before applying for OINP?
Do I need to keep the required amount since 6 months before applying for OINP?
 
It depends on rhe number of dependants you have. It's posted on CIC's site.

I've read that the fund need to be under your name for at least 90 days, but also have read that it needs to be six months. I'm not sure
 
IMTS said:
It depends on rhe number of dependants you have. It's posted on CIC's site.

I've read that the fund need to be under your name for at least 90 days, but also have read that it needs to be six months. I'm not sure
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they ask for 6 months bank statement, only to see if you have taken loan or not
even if you have required funds for 7 days or so, its enough... provided you give them explanation as to how you got the funds... like house sale, gold sale, car sale, garage sale (LOL) whatever.

and like you mentioned - depends on how many dependants you have... for 1 it starts from $13k, 2 is $16k, rest i cant remember.. its there on their site
 
thestunner316 said:
they ask for 6 months bank statement, only to see if you have taken loan or not
even if you have required funds for 7 days or so, its enough... provided you give them explanation as to how you got the funds... like house sale, gold sale, car sale, garage sale (LOL) whatever.
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What if my funds are in a deposit certificate and not an account?
 
IMTS said:
What if my funds are in a deposit certificate and not an account?
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Fixed deposits are fine as long as they can be withdrawn anytime. The key here is unencumbered funds, which means money that is readily available (fixed deposits, shares, savings etc.). Properties such as houses and cars cannot be used as they cannot be readily translated into cash.
 
MalaysianEngineer said:
Fixed deposits are fine as long as they can be withdrawn anytime. The key here is unencumbered funds, which means money that is readily available (fixed deposits, shares, savings etc.). Properties such as houses and cars cannot be used as they cannot be readily translated into cash.
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Thanks a lot
 
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