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dauntless84

Hero Member
Sep 25, 2017
244
38
Hi all,

Currently, I have two Bank accounts. In one of the Bank Accounts, I have a personal loan, however when summed up savings amounts from both the Banks, the requirements for IRCC shows as expected when I take out the difference from the Personal Loan.

Do I need to explain this with the calculations to make it easy for the Officer?

Would that be accepted to have a Personal Loan in the Account?

Any response would help.


Dan
 
Having personal loan or credit card with negative balance is normal.. You should anyways have enough balance and flow of cash to prove that you'll have funds even after you payoff dues and have consistent flow of cash.. Or you can give account details which doesn't have loan attached to it (I am not sure if that's misrepresentation).. Better safe than sorry..
 
Hi all,

Currently, I have two Bank accounts. In one of the Bank Accounts, I have a personal loan, however when summed up savings amounts from both the Banks, the requirements for IRCC shows as expected when I take out the difference from the Personal Loan.

Do I need to explain this with the calculations to make it easy for the Officer?

Would that be accepted to have a Personal Loan in the Account?

Any response would help.


Dan

No need to explain calculations. Provide 6 months statements to prove to the officer that you have sufficient funds and that you didn't take out a personal loan to fulfill the settlement funds requirement.
 
I took a loan for a personal purpose and not for bumping up the IRCC requirements, should I explain that I took the loan for personal reasons from Bank 1 and explain them with calculations after taking the loan amount, the amount left in Bank 1 is XXX and Bank 2 is XXX which sums to the requirements?

Thanks for your response!


Dan
 
I took a loan for a personal purpose and not for bumping up the IRCC requirements, should I explain that I took the loan for personal reasons from Bank 1 and explain them with calculations after taking the loan amount, the amount left in Bank 1 is XXX and Bank 2 is XXX which sums to the requirements?

Thanks for your response!


Dan

NO. Provide 6 months statements to prove to the officer that you have sufficient funds.
 
The reason why I ask is that Bank 1 shows both Savings Account as well as Personal Account and I thought explaining the Officer can help them be guided to understand the Bank Statements.

Thank you.