Proof of Funds: Format of Gift Deed, Affidavit and LOE
- Thread starter hsinxh
- Start date
The money doesn't have to be in your account for a month. You can submit your application as soon as you get the money, with all the supporting documents.
PS: A gift deed is not a borrowed money. You can't borrow money from your mother and call it a gift deed.
Hi frnds.. i received ITA on 9th dec 2020. I made a FD of around 3465 CAD on Nov'20 and remaining 15454 CAD will process on last week of Dec'20 as a gift deed from my dad. My query is
1. Will it create some suspicion as 90% amount is a gift deed?
2. My agent is telling me to keep 15454 CAD in FD for a year but I want to keep some money from it as liquidity. Can I do it?
1. Will it create some suspicion as 90% amount is a gift deed?
2. My agent is telling me to keep 15454 CAD in FD for a year but I want to keep some money from it as liquidity. Can I do it?
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Hello
1) Showing 100% funds as FD from gift deed is no problem. If u show as gift deed FD, u jest need 1 week bank statement. For FD made from ur own money, u need to show its source.
I showed all 100% funds as gift deed from my parents joint account.
2) Better to keep 100% as FD for 1 year. If u keep some money in bank account, u will need 6 months statement with that amount in ur account for 6 months.
Hlo evryone
I have a query regarding proof of funds.
How does the currency fluctuations affect the pof amount?
What if the dollar rate increases post AOR and ur pof falls below the required amount ? Will it lead to rejection? If not then what are the ways in which such situation can be avoided.
Thanks
I have a query regarding proof of funds.
How does the currency fluctuations affect the pof amount?
What if the dollar rate increases post AOR and ur pof falls below the required amount ? Will it lead to rejection? If not then what are the ways in which such situation can be avoided.
Thanks
I asked my consultant the same question. they asked me to keep little extra money in POF in such cases. And small variations will be over looked.
The same thing ws told to me by my consultant as well but i read in somewhere that they sometimes ask for updated pof when they evaluate ur file and sometimes they dont
Hi,
I received my ITA on 9th December, for proof of funds where I have to show CAD 13k, I have INR 2 lakhs in my salary/savings account with about INR 1 lakh as last 6 months average and I intend to show INR 8lakhs as an FD made from a gift deed amount transferred from my parents joint account. I have 2 questions here.
1) I have a home loan from a bank different than the one with my salary account, for which I pay a monthly EMI of 21k(my salary is 61k) from my salary account, this will be reflected in my last 6 month statement. Will this cause any issues?
2) Since I am getting the gift deed from my parents joint account, should the deed state the name of both of them or just the primary account holder.
1) I too hav a loan with monthly 15K as deduction from my main salary account. My agent said its best to show as FD as that will not need elaborated bank statement. I had to show only the transaction where my parent's money had come in my account.. abt 1 week b4 making FD. My EMI date was after i made FD, so did not reflect in loan account. I would advice u to somehow trasfer that 1K or 2k to ur dad and ask him to send all 10K or required money as FD.
U will need only 1 week statement and FD acc statement and another balance statement from bank. I showed only 1 week statement of Dad to be safe. FD with gift deed is less complicated.
2) My parents had joint acount. Both names shud reflect. U can email me sneha.7290@gmail.com if u need sample affidavit
I(along with spouse and minor child) am planning to apply to come for my one year+ higher studies and I understand my total POF required would be 50K CAD (27K for fees + 17K living expenses for family of 3 + 6K return flight fare) and below is what I can show, kindly let me know how to prepare the POF docs needed for my student visa along with dependent visa for spouse and child:-
1) Self name :-40K CAD as PPF + 25K CAD as PF =40K CAD
2) saved in spouse's name as PPF and FD= 50K CAD
3) in minor child's name(so associated with my bank account) as PPF and other savings= 15K CAD
4) mother's name(I am joint account holder of this savings account) as FD= 30K CAD.
1) Self name :-40K CAD as PPF + 25K CAD as PF =40K CAD
2) saved in spouse's name as PPF and FD= 50K CAD
3) in minor child's name(so associated with my bank account) as PPF and other savings= 15K CAD
4) mother's name(I am joint account holder of this savings account) as FD= 30K CAD.