Client Portal
+1(514) 937-9445 or Toll-free (Canada & US) +1 (888) 947-9445
  • Forums
  • Immigration to Canada
  • Express Entry / Expression of Interest

Proof of Funds (Express Entry)

N

nc100

Hero Member
Apr 29, 2017
295
32
Hi

I am based in the uk and have the sufficient balance in my account for myself and my dependants over the last 6 months however we are planning to borrow some money from our friend for showing it for visa purposes as we are planning to apply for a tier 4 study visa here in the uk. We will return that money once the visa is secured. I wanted to check for a situation like this will we still need to get a gift deed or any thing similar from our friend or leave it as we have the balance required for EE?
Thanks
 
F

FMT

Star Member
Feb 28, 2018
199
65
mhk16 said:
Is it mandatory to submit my father's bank statement too in case of a gift deed?

All the help is appreciated.
Click to expand...
It isn't mandatory. You can show the means in which the gift deed was transferred to your account. Transaction details
 
F

FMT

Star Member
Feb 28, 2018
199
65
adii4u said:
I have required funds in my account in form of fixed deposits, few fixed deposits matured last month and I have reinvested the amount again in fixed deposits.
I will be getting ITA this month my question is my fixed deposit dates are not 6 month old will it be a concern?
Click to expand...
Your fixed deposit dates not 6 months old is not a problem. Get your bank letter to reflect your past six months balance and your fixed deposit documents
 
F

FMT

Star Member
Feb 28, 2018
199
65
sandhu2012 said:
Oh okay.. even if they check, will they give me a chance to prove that i have sufficient funds?
Click to expand...
That depends on your case officer. Some give you the chance to submit more document while some are swift to refusing.
Hoping you get the good one
 
B

bimale4bipeople

VIP Member
Apr 15, 2018
4,627
1,674
adii4u said:
I have required funds in my account in form of fixed deposits, few fixed deposits matured last month and I have reinvested the amount again in fixed deposits.
I will be getting ITA this month my question is my fixed deposit dates are not 6 month old will it be a concern?
Click to expand...
Hi Adii, the officer needs to see the liquidated cash available within your account. FD does not work.
If you have required cash available and to strengthen your PoF requirements you can add these Info about the FDs, but don’t quote FDs as the only PoF
 
J

Jaywalker

Hero Member
May 8, 2018
637
323
All - I am a NRI and I have a NRE/NRO account and a set of FD's with Citibank in India. I spoke to them and they agreed to provide a letter as per my requirements. However there is a problem - as per them they will only give me a computer generated letter which will have citibank logo but it will not have a signatory name with a sign and stamp. They want me to personally visit India or send someone on my behalf to get this letter from a citibank branch for it to be signed by someone.

Is the computer generated letter with all the details of bank with logo sufficient?
 
A

adii4u

Star Member
May 22, 2016
66
3
bimale4bipeople said:
Hi Adii, the officer needs to see the liquidated cash available within your account. FD does not work.
If you have required cash available and to strengthen your PoF requirements you can add these Info about the FDs, but don’t quote FDs as the only PoF
Click to expand...
I read somewhere that FD are considered best POF therefore I started investing in FD's, request second opinion on my query
 
S

Sidharthsingh

Full Member
Feb 14, 2018
20
10
My CRS score is 472 i will get an invite most probably next month.I have transferred money from my fathers account and got a FD done for 7 lakh ruppees today itself.Am i going to be rejected if i apply.Please tell me what can happen I am really worried.
 
keeratsingh

keeratsingh

Hero Member
Jul 3, 2017
302
106
New Delhi
Jaywalker said:
All - I am a NRI and I have a NRE/NRO account and a set of FD's with Citibank in India. I spoke to them and they agreed to provide a letter as per my requirements. However there is a problem - as per them they will only give me a computer generated letter which will have citibank logo but it will not have a signatory name with a sign and stamp. They want me to personally visit India or send someone on my behalf to get this letter from a citibank branch for it to be signed by someone.

Is the computer generated letter with all the details of bank with logo sufficient?
Click to expand...
No....computer generated are not acceptable....sign and stamp is mandatory...
 
  • Like
Reactions: Jaywalker
M

manish2018

Full Member
Nov 17, 2017
27
2
Hi,

Part of my Proof of Funds money would be gifted by my father. I have the following questions:

A) Is it okay if it's transfered via internet banking as opposed to a cheque? I'm asking this because the gift deed formats I've seen so far mention cheque details only.

B) When should I get the gift deed and affidavit? Before, after or on the day of transfer? Or anytime would work?

C) My father's name, as spelled in his bank account, is different from what it is in my documents — difference of a letter in his first name. Would this be an issue? If yes, how do I remedy this?

Anything else I should know about this?

Thanks.
 
B

blackh0le

Star Member
Oct 30, 2017
72
10
I have 3 bank accounts. one out ove which is a salary account and other too I hardly use mush and just have minimum balance in them. I also have a home loan and the EI gets paid from the salary account. Also hold only one credit card which is 0 balance as of now, nothing due there.

Question:
- Do I have to show 6 month statements for all 3 accounts?
- Do I have to show details of my Home Loan? If yes, what do i need to show
- Does Home loan affects my PoF total? Do I have to show PoF as Home Loan debt amount + the PoF amount?
- Do I have to show Credit Card statement?
- My salary account has 25% of my PoF balance which is from salary saving and the amount might not be 6 months older as there are regular transactions happening, Do I have to show salary sleeps to prove those 25% poF?
- 25% comes from a EPF and Ill get a statement from the pf office. Another - 25% will be a gift deed from father.
- Remaining 25% is coming from selling my car, bike and other stuff like costly hobby equipment etc. What proof can I show for these ? or do i just add it to my father's gift deed ?

Please help, I am more worried about the home loan questions.
 
You must log in or register to reply here.