PPF Account as Proof of Funds

[KP786]

Hello Friends,

I am Kaustubh and currently work in the USA. Originally from India. I have received my ITA and in the process of getting documents ready. I have been doing some research on showing PPF account as proof of funds. I wanted to understand the following. Thankful if experienced people out here could advice.

1.) I have a PPF account in INDIA in my name. Is that acceptable with a bank statement with past 2 years entries (PPF has only 2 entries per yr; Interest and Credit) and bank letter stating XX amount withdrawal upon request. I understand that this amount should be greater than 14000(CAD) for single entry.

2.) Do I give the bank statement of my USA checking account and also the credit card statements? I am showing more than required funds through PPF account.

Any advice is appreciated. Also, if someone could direct me to the sample letter for PPF account.

Many thanks,
Kaustubh

 

[mr.preetsingh]

Hello Friends,

I am Kaustubh and currently work in the USA. Originally from India. I have received my ITA and in the process of getting documents ready. I have been doing some research on showing PPF account as proof of funds. I wanted to understand the following. Thankful if experienced people out here could advice.

1.) I have a PPF account in INDIA in my name. Is that acceptable with a bank statement with past 2 years entries (PPF has only 2 entries per yr; Interest and Credit) and bank letter stating XX amount withdrawal upon request. I understand that this amount should be greater than 14000(CAD) for single entry.

2.) Do I give the bank statement of my USA checking account and also the credit card statements? I am showing more than required funds through PPF account.

Any advice is appreciated. Also, if someone could direct me to the sample letter for PPF account.

Many thanks,
Kaustubh

1. If your PPF amount is easily withdraw-able, then you can use it as a POF document.
2. Since you are working in USA, you should provide your US bank account statement. Credit card statement can be ignored.

Balance certificate from PPF department should contain following:
Account number, Account type, Amount, Date opened.

 

[KP786]

1. If your PPF amount is easily withdraw-able, then you can use it as a POF document.
2. Since you are working in USA, you should provide your US bank account statement. Credit card statement can be ignored.

Balance certificate from PPF department should contain following:
Account number, Account type, Amount, Date opened.

Thank you for your prompt response Mr. Preet. I will ensure that the bank letter has all the required information mentioned by you and in the CIC website. Thanks again!

 

[KP786]

Hello Mr. Preet, I had another quick query. I am showing withdrawal amount more than CAD$14000 for myself from my PPF account. Is it OK if my US bank account does not have as much as CAD$14000 in balance?

Thanks,
Kaustubh