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Proof of Fund Clarification for Canadian Study Permit

S

StudyPermitHelp

Newbie
May 17, 2019
6
0
Hello everyone. I want to ask a quick question. If I want to use the latest 4 months of banks statement as the proof of fund, does each monthly balance need to exceed the amount asked by CIC? Or is it fine if only the latest one month exceeds the amount asked by CIC? Note that although there is an influx in the latest month, the source is clear and no money is borrowed. Also, I still have some fixed deposits and some assets as well.



Thank you for your help!
 
selvakk

selvakk

Champion Member
Nov 28, 2018
2,414
529
StudyPermitHelp said:
Hello everyone. I want to ask a quick question. If I want to use the latest 4 months of banks statement as the proof of fund, does each monthly balance need to exceed the amount asked by CIC? Or is it fine if only the latest one month exceeds the amount asked by CIC? Note that although there is an influx in the latest month, the source is clear and no money is borrowed. Also, I still have some fixed deposits and some assets as well.



Thank you for your help!
Click to expand...
As l long as the source of the money is clear, then it should not be a problem.
 
S

StudyPermitHelp

Newbie
May 17, 2019
6
0
So there is no need for the balance throughout the first 3 months to exceed the amount required by CIC, right? I am really worried about this.

Also, fyi, the first 3 months balance are roughly stable. My tuition fee is around 56k CAD while the first 3 months stay around 40k CAD. Will this be a problem?

Thanks!
 
selvakk

selvakk

Champion Member
Nov 28, 2018
2,414
529
StudyPermitHelp said:
So there is no need for the balance throughout the first 3 months to exceed the amount required by CIC, right? I am really worried about this.

Also, fyi, the first 3 months balance are roughly stable. My tuition fee is around 56k CAD while the first 3 months stay around 40k CAD. Will this be a problem?

Thanks!
Click to expand...
No, it will not be a problem. The last month should have the amount of money required.
 
S

StudyPermitHelp

Newbie
May 17, 2019
6
0
selvakk said:
No, it will not be a problem. The last month should have the amount of money required.
Click to expand...
Thank you very much for clearing up my doubts. Just out of curiosity, have you ever had/seen any cases just like mine? I just want to know if somebody with a similar situation ever succeeds.

Thanks again!
 
selvakk

selvakk

Champion Member
Nov 28, 2018
2,414
529
StudyPermitHelp said:
Thank you very much for clearing up my doubts. Just out of curiosity, have you ever had/seen any cases just like mine? I just want to know if somebody with a similar situation ever succeeds.

Thanks again!
Click to expand...
There have been cases, I don't remember the outcome. Many people get gift certificates from parents and other sponsors. By nature those will be big, one time payments. So, if that's OK, then yours will be ok.
 
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