Proof of Funds (Express Entry)

[sundar17feb99]

Hi all. I just want to ask if I still need to provide gift deed from my father even after 6 months of transfer in my bank account.

Our CRS score is 426. My partner is the principal applicant. So were just waiting for ITA but not anytime soon based on the current trend of invitations. Last January my father transferred 75% of required POF to my own account. I have 2 joint accounts with my partner but we still lack about 5% which we can complete by March. We are just maintaining the balance until we receive ITA. If we get ITA by July or August, do I still need to provide gift deed? Or just the bank letter should be enough?

If it's get past 6 month, there is no necessity to furnish gift deed.

 

[raxdsouza]

Hi Friends,

My spouse had created a FD (30% of req fund) around 4 months back ... which was gifted to her.

I have 2 option
1) break her FD and ask her to transfer to my account and then get bank letter of amount (100% of req fund) in my account.

2) Show her FD directly as POF and get a plain signed letter tht I have access to ther FD.

Plz suggest wht best can be done in this case.

 

[tanmaisneha]

Hi Guys,

My company would be paying me arnd 25k CAD once I resign from the current job, can I show it as POF for express entry.
I would surely get the letter from the company stating that and other documents from the bank stating no loan is pending.

Thanks in advance for the reply.

Tanmai

 

[devika_praveen]

Hi Everyone,

Has anyone got PoF letter from State Bank of India? (Preferably in Delhi. If so, which branch?)

I have all the required funds there, in my salary and savings account. My local branch is not aware of any provision to issue such letter. They are offering to issue me last 6 months bank statement with official stamp.

1. Is this letter issued by some specialised branch? (since all branches do not deal in Forex)
2. Is it sufficient for the letter to mention the amount in INR or does it also need to mention CAD equivalence at that day's exchange rate?

 

[sundar17feb99]

Hi Friends,

My spouse had created a FD (30% of req fund) around 4 months back ... which was gifted to her.

I have 2 option
1) break her FD and ask her to transfer to my account and then get bank letter of amount (100% of req fund) in my account.

2) Show her FD directly as POF and get a plain signed letter tht I have access to ther FD.

Plz suggest wht best can be done in this case.

You can choose either of the above.
If your spouse is accompanying , it would become fairly simple if you transfer her funds to your account.
You can supplement the claim by composing letter of explanation.

 

[divyashreebajpai]

Hi All,

Please help me in getting clarity for these queries I have:

1. For POF my parents transferred the money into my savings account and I have turned them into multiple FDs. At the time of submission of POF do I need to submit a gift deed or only FD advice is enough as the FDs are in my name?

2. Can I show PF, PPF account balance for POF. I also have a ULIP in my name but it is not yet matured and is currently "in force" status, can it also be used?

3. I have a joint account with my spouse who is not accompanying me to Canada and have not applied for PR. Can I use that account for POF if I get a no-objection certificate from my spouse?

4. I have created my express entry profile from the US and by the time I receive ITA I would be India, will this change of location could create any issues?

Thanks in advance.

 

[UmairS]

Hello
I am a bit afraid of the following:

I submitted my 6 months bank statement for POF, and its first and last page are signed and stamped. 1st page shows opening balance which is around 6k dollars, and last page has closing balance which is 13k dollars. In between there was a gift I received from mother of 4.5k dollars, I have attached all gift deed and relevant documents. rest of the money is all my salary transfers into my account as shown in the pages b/w the 1st and last page. Should I still get these middle pages signed and stamped? and should i raise CSE? Would raising CSE delay my app?

 

[kanu]

I was checking ONIP POF requirments, so can anyone confirm what is an acceptable confirmation for PF and Mutual Funds?

If your bank statements do not demonstrate a personal account standing/final balance that meets or exceeds the Low Income Cost-Offs (LICO), you may include proof of fixed term deposits, stocks, mutual funds, investments, and/or pensions, along with a confirmation that these funds can be immediately liquidated and at what value, and that they are free of debt or financial liability.

 

[kanu]

Hi Everyone,

Has anyone got PoF letter from State Bank of India? (Preferably in Delhi. If so, which branch?)

I have all the required funds there, in my salary and savings account. My local branch is not aware of any provision to issue such letter. They are offering to issue me last 6 months bank statement with official stamp.

1. Is this letter issued by some specialised branch? (since all branches do not deal in Forex)
2. Is it sufficient for the letter to mention the amount in INR or does it also need to mention CAD equivalence at that day's exchange rate?

I had got a letter from SBI in Dwarka, Delhi which stated my account number along with current balance and when they were opened. Though you don't need to convert them to CAD so any branch should be able to provide you the same with INR amount only. Just speak to the manager of the bank and explain your situation.

 

[si.si]

Anyone here from Brazil has used their private pension as a proof of funds? Had any problems?
--
Alguém aqui do Brasil usou a previdência privada como prova de fundos? Teve algum problema?

 

[Balasubramani28]

I am currently working in Canada and creating Express entry profile for PR. Though I don't have to show proof of funds, how much money should I mention in the EE profile? Can I specify Zero dollars or 19100CAD for 3 members?
Also, I don't have 19100 now on my bank account. please suggest.

 

[DelPiero07]

I am currently working in Canada and creating Express entry profile for PR. Though I don't have to show proof of funds, how much money should I mention in the EE profile? Can I specify Zero dollars or 19100CAD for 3 members?
Also, I don't have 19100 now on my bank account. please suggest.

You don't have to show POF as long as you're a CEC applicant or if you have a valid job offer. You can state "0" if that's the case but once you receive an ITA you should upload a letter stating why you're not required to provide POF.

 

[Balasubramani28]

I am applying FSW since I didn't complete 1 yr in Canada. still specifying Zero is OK.

 

[DelPiero07]

I am applying FSW since I didn't complete 1 yr in Canada. still specifying Zero is OK.

It's not OK.

 

[Balasubramani28]

Thanks.
So shall I mention 19100 CAD for 3 people and for POF, I will provide the Paystubs, Job offer, experience letter.