You need $12,300 or more from time of application till getting PR or as some have brought to notice till you are cleared by landing officer.@BillHyatt
Need your expert advice on this matter please. My avg bank balance for last 6 months is this, starting from latest: $21200, $20900, 18700, 15000, 3500, 8500. Do I need a gift deed or LOE ? I am a single applicant and need to show $13200 funds. Thanks.
You don't need Gift Deed unless CIC ask for it. However, you will be required to submit an affidavit (made on simple MS Word will even work) from a person who provided money solemnly declaring that this money is solely for your settlement in Canada and you can use this money without any restrictions or limitations. It should be signed and contact details (email and phone) must be provided.
If your parents or sibling gifted you amount then just attach their bank Statement (optional) along with Affidavit as stated above and you will be fine.
I haven't seen my friends being questioned on proof of funds for not submitting Gift Deeds. However, if someone other than parents or siblings provide you money then you will have to submit legal documents such as gift deeds and declaration letter.
I hope this will help.