Personal Loans and Home Loan EMI entries in Bank statement

[varun22]

Hi

I'm having couple of personal loans from past two years with closing date in November 2017.

My bank statement clearly shows EMI's being deducted every month from my account.
I need to show 15k CAD as POF and I have around 28k CAD in form of FDs.

Do you think I need to explain about these loans in LOE?

Candidates with similar situation, Please help.

Thanks,
Varun

 

[Asivad Anac]

You don't need to disclose these loans to CIC. Nothing to be explained here.

 

[frankiefun]

Really @Asivad?

I have been avoiding showing POF with my salary account cos the direct debits every month for my outstanding loan are clearly visible and might raise questions from the VO. (Plan to clear the personal loan up in March, i took it earlier in the year for a project!

Regards

 

[PiyushAgrawal06121985]

You would not need to declare it since it is reflecting in your statements and are still able to maintain the minimum funds required.

 

[Asivad Anac]

Really @Asivad?

I have been avoiding showing POF with my salary account cos the direct debits every month for my outstanding loan are clearly visible and might raise questions from the VO. (Plan to clear the personal loan up in March, i took it earlier in the year for a project!

Regards

Yes.

If you can conclusively prove that you haven't taken any loan for POF purposes, the officer wouldn't care about other periodic debits corresponding to other loans.

 

[frankiefun]

Thanks again!

This is totally unrelated but how do i add the updates at the bottom like you have 'canadian permanent resident'

 

[Asivad Anac]

Thanks again!

This is totally unrelated but how do i add the updates at the bottom like you have 'canadian permanent resident'

After you've posted 20 times, a series of options open up. Check 'Profile' for more after 20 posts.

 

[narayanf1]

Hi

I'm having couple of personal loans from past two years with closing date in November 2017.

My bank statement clearly shows EMI's being deducted every month from my account.
I need to show 15k CAD as POF and I have around 28k CAD in form of FDs.

Do you think I need to explain about these loans in LOE?

Candidates with similar situation, Please help.

Thanks,
Varun

I have a similar situation. The tricky part in my case is that loan disbursement by the bank were credited as recently as in the last 2-3 months. And I made fixed deposit today from my salary. I am hopeful that the loan credit and the amount for FD I have been gathering don't clash.

BTW, I find it wise to not provide any LOE for loans in my case.

 

[amala1611]

I have a similar situation. The tricky part in my case is that loan disbursement by the bank were credited as recently as in the last 2-3 months. And I made fixed deposit today from my salary. I am hopeful that the loan credit and the amount for FD I have been gathering don't clash.

BTW, I find it wise to not provide any LOE for loans in my case.

Did you disclose LOE for the loans?