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Proof of funds duration

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msapra85

Full Member
Jan 20, 2016
26
1
Hi All,

I've got ITA in October 4 2017 draw. I haven't accepted ITA yet and before proceeding further I have a few questions which I need to know. Kindly provide your valuable guidance on the following questions :

Q1) I have majority of my savings in PPF and withdraw able limit is nil. As PPF is has a lock in period, will it be considered as a part of total funds required ?
Q2) For how long the funds must be present in my account before I submit my ITA ? Can I add required funds a day before submitting my ITA also ?
Q3) If I decline this current ITA, I'll be eligible for next draw. Would there be any negative impression in this case ?
Q4) If I proceed with savings that has PPF in it, and it gets rejected (hopefully not *touchwood*), will I be able to apply again or not ?
Q5) What is the time limit before which one has to accept ITA ?

I really need help on this quickly...
Thanks in advance for your valuable time.

Regards,
Sapra
 
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2 - There isn't a set amount of days so as long as you can prove where the money is coming from you can add funds before submitting your eAPR.
3 - No negative effect.
5 - No such thing as accepting ITA, you have 90 days to submit your eAPR after receiving an ITA.

I'll refrain from talking about PPF.
 
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DelPiero07 said:
2 - There isn't a set amount of days so as long as you can prove where the money is coming from you can add funds before submitting your eAPR.
Click to expand...

In above scenario, if money is coming from family members (blood relation), is it considered a valid one ?

DelPiero07 said:
3 - No negative effect.
5 - No such thing as accepting ITA, you have 90 days to submit your eAPR after receiving an ITA.

I'll refrain from talking about PPF.
Click to expand...
 
You would need a gift deed - that is a document that states that the money is not a loan but a gift and that they do not expect to get the money back.
 
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