Proof of Funds (Express Entry)

[Anishcool]

Dear All,

I received my ITA during last draw.

I am in the process of procuring proof of funds leter from the bank. Assuming I would get an ITA, I had deposited around 12300 CAD as a Fixed Deposit than during November 2017. Unfortunately, due to the rapid plummeting of INR against global currencies, the funds I hold VS CAD do not meet the CIC funds requirements.

Therefore, I am planning to infuse more funds into my account - source, my parents.

now my questions are:

1. What is the best way to show that the additional funds infused into bank account to mitigate currency value fluctuations are legit?
2. My current situation is like - 90% percent of funds are more than 6 months old and 10% is fresh. Should I mention about this bank letter and explain the same in a Letter of Explanation?
3 I possess almost the 90% of the required funds through Fixed Deposits. I am not sure if there is a way to project an average six month balance for a Fixed deposit account. Should I get the bank to state something on the lines that, average balance could not be stated given the nature of an FD account? How do I overcome this phenomenon?

It is highly appreciable if I get a response/suggestion/solution for my concerns outlined above, before this Friday where I will be approaching the bank for the letter process

(Getting paranoid already)

Somebody please advise.

 

[Kim_kabayan]

hi,

My bank certificate doesn't mention the current balance amount, so i have requested a 6mos bank statement which reached about 60 pages
this is my active account and almost using my debit card everyday.

file compressed size is in 12mb.

silly question: can i just cut the middle pages and submit the first few pages and last page instead + loe?

 

[navinball]

hi,

My bank certificate doesn't mention the current balance amount, so i have requested a 6mos bank statement which reached about 60 pages
this is my active account and almost using my debit card everyday.

file compressed size is in 12mb.

silly question: can i just cut the middle pages and submit the first few pages and last page instead + loe?

if the ending balance for each statement of those 6 months is consistent and no huge jump then i guess its fine.

 

[Kim_kabayan]

if the ending balance for each statement of those 6 months is consistent and no huge jump then i guess its fine.

Thanks for the reply.
..not really consistent, but i can say the amount is still SAFE and more than the required amount

 

[rishirajsing]

Guys,
I am showing Bank letterhead and 6 months bank statement. The issue is my 6 months average is less than the required amount. But the current balance is above the required amount.

Will that be a problem ?

 

[letsgo_canada]

Need urgent help. Im married but spouse is non accompanying. Almost 50% of my pof is coming from my father in law.

What's my best course of action to show show the money from father in law as pof?
1. Direct gift deed to me?
2. Gift deed to wife in a joint account and a letter from her that i can use that money?

Hi ,
Did you get any response for this?
Thanks

 

[letsgo_canada]

Guys,
I am showing Bank letterhead and 6 months bank statement. The issue is my 6 months average is less than the required amount. But the current balance is above the required amount.

Will that be a problem ?

Experts..could you please advice?

 

[tobs]

Somebody please advise.

You can get a gift deed from your parents that says they are gifting you xxxx amount

 

[tobs]

Experts..could you please advice?

I didn't show the 6 months average as my bank doesn't give that info. There are many people with banks who refused to provide a 6 months average as well. So I believe you can submit your bank letter with the current balance as at (insert particular date) as well as your bank statements.

 

[tobs]

Hi ,
Did you get any response for this?
Thanks

I'll suggest that you get your FIL to send the money to one of your parents and have your parent write you a gift deed.

 

[tobs]

Guys,
I am showing Bank letterhead and 6 months bank statement. The issue is my 6 months average is less than the required amount. But the current balance is above the required amount.

Will that be a problem ?

No. Just show the current balance in the bank letter. My Bank letter showed my current balance instead of a 6 months average because my bank doesn't provide that info.

 

[tobs]

If I am receiving POF funds from my father, do I need to produce 6 months statement or 1 month statement with the POF transaction is enough ? (with Gift deed, affidavit and LOE)

6 months statement

 

[Gibacho]

I am selling my stocks for the funds requirement. So there is a sudden increase in my savings account.
Do I need to explain that i sold my stocks for the fund requirement? Will they accept the same? I can show all the proofs of ownership of stocks in my Demat

 

[vincyluthra]

Need help for my friend.
He is an Indian National, presently living and working in India.
Applied for EE (Main Applicant i.e. Himself + wife + 1 kid) so he needs around 19k CAD as POF.

His AOR Date was 15 June 2018.

At that time 1 CAD was equivalent to INR (Indian National Rupee) 52 therefore to show POF, He managed funds in a form of FD(Fixed Deposit) (11 Lakhs INR).

As of today, 1 CAD is equivalent to INR 57.

1. Do we need to add more funds? (Yes/No)
2. If yes, do we need to get an updated letter from Bank? (Yes/No)
3. If Yes, then what's the process to upload the info on CIC?

 

[bimale4bipeople]

Need help for my friend.
He is an Indian National, presently living and working in India.
Applied for EE (Main Applicant i.e. Himself + wife + 1 kid) so he needs around 19k CAD as POF.

His AOR Date was 15 June 2018.

At that time 1 CAD was equivalent to INR (Indian National Rupee) 52 therefore to show POF, He managed funds in a form of FD(Fixed Deposit) (11 Lakhs INR).

As of today, 1 CAD is equivalent to INR 57.

1. Do we need to add more funds? (Yes/No)
2. If yes, do we need to get an updated letter from Bank? (Yes/No)
3. If Yes, then what's the process to upload the info on CIC?

No need since they should consider the exchange rate at date of submission