Proof of Funds - Having Personal Loan

[musab127]

Hello ,

I am planning to apply for a PR and have scheduled an IELTS exam. While I was going through the requirement for Proof of funds. I am required to maintain around 20,000$. Though I have the required amount with MUTUAL FUNDS 10000$, PROVIDENT FUND 6000$, SAVINGS ACCOUNT 4000$.

However i have a personal loan of 14000$. But i have used up only 1500$ of the personal loan and i have the remaining amount with me.

My question is can i show the compensation of deficit of Personal loan in my SAVINGS account by depositing the remaining amount that i have into my savings account?
Like i deposit 12500 into my SAVINGS. So total of 16500 will be in my SAVINGS account and then add an explanation that 12500$ accounts for the PERSONAL LOAN?

 

[dotslash227]

As POF of funds you need to submit a bank letter, which tells the following : Your current amount, 6 month average and if there are any loans associated with that bank and/or account.

The funds that you show as POF, should not be encumbered by a loan.

Also, you need to check whether you can use Mutual funds as POF or not, as they have a lock-in period, you would either need to liquidate them or get a letter that says that they are encashable anytime.