Personal Loan for Canada Express Entry 2021

[megajegapanda]

Hi,

I am applying for my express entry. My WES and IELTS is almost done. And I'll be in the list by end of February 2021. My plan is to take a personal loan to show funds (I am from India). Is it possible? Also how long should I have the funds in my account? and what are the documents that are required?

Thanks in advance.

 

[starlordavuthu]

Hi,

I am applying for my express entry. My WES and IELTS is almost done. And I'll be in the list by end of February 2021. My plan is to take a personal loan to show funds (I am from India). Is it possible? Also how long should I have the funds in my account? and what are the documents that are required?

Thanks in advance.

No, you cannot do that. You cannot take personal loans as POF, money should be yours i.e. you dont owe this money to anyone and you should bring this money to Canada with you if your PR is approved. Required amount should be in your bank account till you move to Canada (You need to show POF to Border agent), you need to show 6 months average balance.