Proof of Funds - FSW

[SameerAtre]

Hello,

I have a query about how the CIC will respond to my application when I submit the POF documents in the following situation -

1. I have a substantial outstanding education loan
2. For POF, I will show a joint FD worth 14000 CAD with me as the primary nominee and my father as the secondary nominee. No gift deed.
3. My last 6 month account statements where the current savings amount and the average is much less than 14000 cad

Do let me know any potential problems that I might face according to your understanding. And, whether CIC will grant me a PR based on the above mentioned situation.

Thanks in advance for your reply.

 

[DelPiero07]

Well my question would be, how did you get the money all of the sudden?

It can be a problem as they usually do not want to see one huge lump sum amount to fill the POF requirements. That's why they ask for the average balance in the past 6 months.

Cheers

 

[kryt0n]

See, I've been ignoring my student loan. Please show me any Canadian under 30 with a degree WITHOUT a loan?!

I can't even pay mine back early as they FINE you! I have no choice but to pay it off £50 a month for the next 16 years.

Are student loans really declared by everyone??

 

[DelPiero07]

See, I've been ignoring my student loan. Please show me any Canadian under 30 with a degree WITHOUT a loan?!

I can't even pay mine back early as they FINE you! I have no choice but to pay it off £50 a month for the next 16 years.

Are student loans really declared by everyone??

I don't think so. People in this forum would argue that all they care about is that you have the sufficient funds.

Cheers

 

[SameerAtre]

@DelPiero07

Maybe it was not clear from my question but, what I meant was that my parents will be fronting the required money for me in the form of the FD.

 

[kryt0n]

@DelPiero07

Maybe it was not clear from my question but, what I meant was that my parents will be fronting the required money for me in the form of the FD.

Get a gift certificate.

 

[DelPiero07]

If they are putting the funds for you, you need to make sure that it is declared that they are not expecting those funds back (gift deed)

If they do that, then it doesn't matter if you're average balance was low in the previous months.

Cheers

 

[SameerAtre]

Get a gift certificate.

And the part about declaring the substantial education loan amount? Is it really necessary?

 

[kryt0n]

No idea here.

See, my loan is pre tax, so it's direct directly out my salary and is dependant on my salary. If I don't earn enough, I don't pay it. I also can't pay it off sooner.

So I will actually submit a financial letter and 6 months of statements which shows my liquid funds. My uK payslips will show my loan. I doubt I'll explicitly state them.

 

[NaijaBigMond]

Subject: PROOF OF FUND

Hello Seniors!.......Satnlee, SINP-Katmandu, Raj, Asivad, Bestofluck, FKL, DigitalDestiny, Maged, Prashant, etc etc etc -----Help ooooooh!

"May God bless you all and meet your needs before you even need them" for taking time out to help others! IJN. Amen

I've gathered all documentations and am about applying/expressing interest for some PNPs (especially SINP-EE, NBPNP-EE, NSPNP-EE, PEIPNP-EE, etc), but now my fear/challenge is that all my expected POF money is not up to the required three 3 Months in the bank and my wife is urging me to apply for PNPs right away. Will it be accepted or rejected? Your suggestions, thought & take, please!!!


I have been keeping about ~1/3 of this amount for a family of five in an FD based on a joint account named on my wife & I, for a long time. Now another ~1/3 is coming from my wife's office cooperative savings scheme into her salary account before she will forward it to our joint Acct. While another remaining ~1/3 part is coming from my office Cooperative Saving scheme account into my own personal salary account before I'll forward it into the main Joint account. Now, If a 3 mths Bank statement is printed, both of this two ~2/3 transfers or deposits will show just less a month duration in the account. None is borrowed or loan money but truly our matured & withdrawn savings. And am also accompanying this main joint acct statements with another 3mths each from both my wife and I salary accounts to show the source,

How do the PNPs officers (especially SINP-EE international) and the VOs after ITA see this. What's the risk....I just can't wait for the next three month maturity now that I've been able to raise the dow!, please advice!!!!!!!!!..

Thanks in advance

 

[kryt0n]

Subject: PROOF OF FUND

Hello Seniors!.......Satnlee, SINP-Katmandu, Raj, Asivad, Bestofluck, FKL, DigitalDestiny, Maged, Prashant, etc etc etc -----Help ooooooh!

"May God bless you all and meet your needs before you even need them" for taking time out to help others! IJN. Amen

I've gathered all documentations and am about applying/expressing interest for some PNPs (especially SINP-EE, NBPNP-EE, NSPNP-EE, PEIPNP-EE, etc), but now my fear/challenge is that all my expected POF money is not up to the required three 3 Months in the bank and my wife is urging me to apply for PNPs right away. Will it be accepted or rejected? Your suggestions, thought & take, please!!!


I have been keeping about ~1/3 of this amount for a family of five in an FD based on a joint account named on my wife & I, for a long time. Now another ~1/3 is coming from my wife's office cooperative savings scheme into her salary account before she will forward it to our joint Acct. While another remaining ~1/3 part is coming from my office Cooperative Saving scheme account into my own personal salary account before I'll forward it into the main Joint account. Now, If a 3 mths Bank statement is printed, both of this two ~2/3 transfers or deposits will show just less a month duration in the account. None is borrowed or loan money but truly our matured & withdrawn savings. And am also accompanying this main joint acct statements with another 3mths each from both my wife and I salary accounts to show the source,

How do the PNPs officers (especially SINP-EE international) and the VOs after ITA see this. What's the risk....I just can't wait for the next three month maturity now that I've been able to raise the dow!, please advice!!!!!!!!!..

Thanks in advance

I've just looked at your profile, you've posted this question 13 TIMES!!!

 

[syedarsalan]

Hello,

I have a query about how the CIC will respond to my application when I submit the POF documents in the following situation -

1. I have a substantial outstanding education loan
2. For POF, I will show a joint FD worth 14000 CAD with me as the primary nominee and my father as the secondary nominee. No gift deed.
3. My last 6 month account statements where the current savings amount and the average is much less than 14000 cad

Do let me know any potential problems that I might face according to your understanding. And, whether CIC will grant me a PR based on the above mentioned situation.

Thanks in advance for your reply.

Joint FD won't work. IT as to be solely under your name and FD should not be joined with any other person than your spouse (who is going to come with you to Canada)

BReak FD, or remove your father's name from it. Then you can present it.