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I don’t have enough money in Bank A/c

ssaansari

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Jul 15, 2008
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I am from Pakistan and soon apply for FSW Under NOC ‘0213’

I don’t have enough money in Bank A/c but my wife have Saving Certificates in her name almost equal to $13,500.

My question is:
Can I present these Saving Certificates as funds?
 

ja77

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Mar 24, 2009
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Re: I don't have enough money in Bank A/c

you should consult the checklist for CHC islamabad on the official website for citizenship and immigration canada which says that you can show proof of funds either as bank letters, or proof of savings history, or fixed or time deposit statements. this logically means if you are submitting fixed deposits, then you are actaully following the checklist and not doing something which is against the checklist. but in practice, every visa office has its own trends. looking at the experience of different members on this forum, looks like CHC Islamabad doesn't much like savings certificate or fixed deposit statements. but you can take your chance if you want to and submit them. if they say they want to see the proof of funds in the form of savings account statement, you always have a choice to encash your savings certificates. ALTERNATIVELY, you can encash your certificates at this time so that you could submit a savings account statement for say around 3 months at the time of submitting your full application. depends on you and how safe you want to play.
 

S.K

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May 29, 2009
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Re: I don't have enough money in Bank A/c

ssaansari said:
I am from Pakistan and soon apply for FSW Under NOC ‘0213'

I don't have enough money in Bank A/c but my wife have Saving Certificates in her name almost equal to $13,500.

My question is:
Can I present these Saving Certificates as funds?
YES
 

ja77

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Mar 24, 2009
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Re: I don't have enough money in Bank A/c

SK, how's it mate? any news from CHC about your file? Saskatchewan is waiting for you :)
 

jojobaba

Star Member
Jun 22, 2009
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Re: I don't have enough money in Bank A/c


Dear Ansari

Play safe incash your certificates deposit the proceeds in ur bank account and get the bank statement.
 

domingo

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Jan 20, 2009
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Re: I don't have enough money in Bank A/c

jojobaba said:
Dear Ansari

Play safe incash your certificates deposit the proceeds in ur bank account and get the bank statement.
Yes, play safe. Encash and deposti in your account, and please do not touch these funds until you get the Visa stamped.
 

alice_chained

Star Member
Jan 20, 2009
182
2
Re: I don't have enough money in Bank A/c

instead of encashing them why don't you get a loan from the bank against the saving certificates.

Instead of encashing the coupons early and forgoing the interest for the remaining coupons, just get a loan for the principal amount.
 

ssaansari

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Jul 15, 2008
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Re: I don't have enough money in Bank A/c

Thanks to all...

but one thing more can't they check Credit history ?
 

SSKHAN

Full Member
Jul 21, 2009
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Re: I don't have enough money in Bank A/c

A related question: Is a bank statement sufficient or do they also require a letter from the bank manager (in addition to the bank statement)?
 

Ra00

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May 29, 2009
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Re: I don't have enough money in Bank A/c

i sent both
SSKHAN said:
A related question: Is a bank statement sufficient or do they also require a letter from the bank manager (in addition to the bank statement)?
 

alice_chained

Star Member
Jan 20, 2009
182
2
Re: I don't have enough money in Bank A/c

They can't check credit history, but since the loan will be backed by the saving certificates, your good. It's an asset backed loan. You can mention this to CHC as well, That instead of foregoing the intrest you took out a loan against the principal amount and the saving certificates are being held as security for the principal amount being borrowed.

Check out the options.

You can pre encash them and forego the Interest, it just maybe that the interest being charged by the PL is a lot more that the coupon rate, but there is no harm in checking.