Proof of Funds (Express Entry)

[Sarrita 1991]

Hi, i need your help. I have to present a POF for the OINP application. They need the last 3 months bank statements that i have to submit in 45 days
As of right now i don't have the fund in my account. Half will be gifted to me by my father, so i will need a deed of gift.
The other half i saved outside my bank account by cashing out my pay every month. So, i will need a LOE . Will it be enough or should i present my banking history with the pay deposit and withdrawal for the last year which will amount to more than half the funds.
Will they accept it as proof or should i just make one big deposit (all the funds) and explain it with the deed of gift. Even if it's my own money?

 

[Eshank]

People need urgent guidance...
I got my ita (me and my spouse ) on 9th Jan 2020...I am falling short of funds for both by around CAD 2000...I have more than CAD 3000 in my employee provident fund ...also separately have more than CAD - 2000 in sip...
I want to know ...t
1.should i break my sip and make an FD of that amount or
2. Show sip and employmee provident fund as POF
3. Make a gift deed and ask money from parents..
4.make an FD and show it as a wedding gift as I got married in Dec 2019.

Awaiting suggestions

 

[uppperkut]

People need urgent guidance...
I got my ita (me and my spouse ) on 9th Jan 2020...I am falling short of funds for both by around CAD 2000...I have more than CAD 3000 in my employee provident fund ...also separately have more than CAD - 2000 in sip...
I want to know ...t
1.should i break my sip and make an FD of that amount or
2. Show sip and employmee provident fund as POF
3. Make a gift deed and ask money from parents..
4.make an FD and show it as a wedding gift as I got married in Dec 2019.

Awaiting suggestions

A gift deed is probably the least complicated choice. Others have tried it and it worked for them.

 

[Jazz30]

Hello nbt11,

Thank you so much for your clarification.
It means, if my dad is gifting me that amount then no need to submit his source of funds(like his bank statement) and these funds must be in cash also, am i correct? . what i need to get is, a gift deed and an affidavit(?)
thanks again

Hi there.
Just want to know if your appliction became successful after submission?
Especially for the proof of fund. I also have a gift deed from my father which became my source of fund. I also prepared a gift deed letter and affidavit. Im just worried if this will not be accepted in SINP. Hoping for your response..thank you.

 

[Jazz30]

A gift deed is probably the least complicated choice. Others have tried it and it worked for them.

We almost got the same date in receiving ITA. maybe your deadline of submission will be on march also?
As for me i prepared a gift deed letter, affidavit, and letter of explanation for my source of fund..this was also a late wedding gift from my father.
But still im doubting if it will be accepted in SINP.. lets just hope for a positive results afterwards.

 

[uppperkut]

We almost got the same date in receiving ITA. maybe your deadline of submission will be on march also?
As for me i prepared a gift deed letter, affidavit, and letter of explanation for my source of fund..this was also a late wedding gift from my father.
But still im doubting if it will be accepted in SINP.. lets just hope for a positive results afterwards.

I'm a PR since September 2017

 

[Jazz30]

I'm a PR since September 2017

Congrats.
Im still ongoing on online application submission.

Hoping for a postive result even though i have some issues on my proof of funds.

 

[Jazz30]

Congrats.
Im still ongoing on online application submission.

Hoping for a postive result even though i have some issues on my proof of funds.

Are you also under SINP before you get PR?

 

[alimohammad]

I received Nomination from SINP on December 13, 2019. Subsequently, I have been invited to apply for Permanent Residence on February 05, 2020. I had been maintaining a Fixed Deposit Account since June 27, 2019, but I had to liquidate this account on January 8, 2020. As a result, one of my Fixed Deposit Accounts which was opened on October 21, 2019, is just 3.7 months old as of today. However, the average balance is well above the required settlement fund (CAD $ 19,836) as I have CAD $ 21,058 as an average balance, and the current balance is now CAD $ 23,373.95. In these circumstances, I would like to know-

1. Whether the current mix of proof of funds will put me into trouble?
2. Should I apply for PR now as I have all the required documents? Or
3. Should I wait till the very end of the deadline for submission of the eAPR to meet the 6 months average balance requirement as much as possible?
4. Should I decline the ITA and wait for the account to clear the mark of 6 months?

I earnestly request your kind suggestions. Thanks in Advance to All.

 

[cansha]

I received Nomination from SINP on December 13, 2019. Subsequently, I have been invited to apply for Permanent Residence on February 05, 2020. I had been maintaining a Fixed Deposit Account since June 27, 2019, but I had to liquidate this account on January 8, 2020. As a result, one of my Fixed Deposit Accounts which was opened on October 21, 2019, is just 3.7 months old as of today. However, the average balance is well above the required settlement fund (CAD $ 19,836) as I have CAD $ 21,058 as an average balance, and the current balance is now CAD $ 23,373.95. In these circumstances, I would like to know-

1. Whether the current mix of proof of funds will put me into trouble?
2. Should I apply for PR now as I have all the required documents? Or
3. Should I wait till the very end of the deadline for submission of the eAPR to meet the 6 months average balance requirement as much as possible?
4. Should I decline the ITA and wait for the account to clear the mark of 6 months?

I earnestly request your kind suggestions. Thanks in Advance to All.

There is no need to decline the ITA.

 

[Sourav Saha]

Hello Team,

Need your guidance.

I am currently work in Canada with valid Work permit.
I am having account in Canada also having account in India. I have fund in both the accounts.

While showing the Proof of Funds can I use both the account from India and Canada and show the funds required?

Thanks

 

[Andiliu]

Need your help.

I am currently working in Canada with valid work permit.

I have over 15K in my bank account. But $10K in TFSA Questrade investment account for 3 months, and 5K in chequing for 6+ month

I wonder if Questrade statement for 10K and 5K from bank account would work? or they would only accept statement from a bank?

 

[Ali08]

Hi

Anyone here has applied for Canadian PR through express-entry from Australia? If yes, how did you manage to get an official bank statement considering the fact that Australian banks don’t issue customized statement and one can only get statement via their bank’s website!

P.s. how old a bank statement can be when we submit our application?

Hi I am facing the same problem with comm bank now. Can you tell me how did it go with you and what documents did you end up submitting?

 

[mr.preetsingh]

Hi I am facing the same problem with comm bank now. Can you tell me how did it go with you and what documents did you end up submitting?

You just need a regular balance certificate from bank. No customization required.

 

[Ali08]

You just need a regular balance certificate from bank. No customization required.

Thank buddy for the reply. Is it the one you can download from your online account?