Proof of Funds & Letter of Explanation

[skiffyz]

Hello

I want to apply for Canada migration and seek your help regarding a few stuff. I am a single applicant and require to show around BDT 8.5 lacs as funds for Canada PR. I have an FDR worth BDT 8 lacs under my name. I have got the money from my father. I have already got an Affidavit done where it is stated that he has given me the money as gift.

The problem is with an extra BDT 1 lac which I have deposited in my account very recently. The extra BDT 1 lac is my saving from my salary. I used to withdraw a small sum of money every month from the bank (where my salary is transferred) and keep at home. Only recently I have deposited around BDT 1 lac at the bank where I have my FDR. In this instance, how can I show the source of the BDT 1 lac?

I have downloaded the bank statement and highlighted all the withdrawals from my bank over the last 1 year. The amount is exactly 1 lac. Will it be sufficient if I highlight those transactions in the bank statement and attach with my eAPR? Should I also attach a Letter of Explanation to explain this?

I look forward to your help.

 

[superspecial90]

Hello

I want to apply for Canada migration and seek your help regarding a few stuff. I am a single applicant and require to show around BDT 8.5 lacs as funds for Canada PR. I have an FDR worth BDT 8 lacs under my name. I have got the money from my father. I have already got an Affidavit done where it is stated that he has given me the money as gift.

The problem is with an extra BDT 1 lac which I have deposited in my account very recently. The extra BDT 1 lac is my saving from my salary. I used to withdraw a small sum of money every month from the bank (where my salary is transferred) and keep at home. Only recently I have deposited around BDT 1 lac at the bank where I have my FDR. In this instance, how can I show the source of the BDT 1 lac?

I have downloaded the bank statement and highlighted all the withdrawals from my bank over the last 1 year. The amount is exactly 1 lac. Will it be sufficient if I highlight those transactions in the bank statement and attach with my eAPR? Should I also attach a Letter of Explanation to explain this?

I look forward to your help.

Hello!
Your FDR will be perfect as proof of funds. You do not need to write an explanation for this. FDR statements are most commonly used POF's and CIC accept them very well. My brother used an FDR statement as his POF.

The rest of the fund in your savings account will be fine too. Do not include any explanation or include any supporting documentation for that yet. Since you have all the proof, simply keep them handy. CIC will probably never ask for those, but just in case! By the time CIC looks/checks your POF, it will be more than 4 months and they will not bother about the origin of the fund.

You will need to submit bank account statement from the 'bank', not one that you printed yourself. It has to be stamped and signed by your bank manager.

Also, If I was you, I would put all of the money in one FDR and submit one statement as POF. This will simplify things. Do not worry about the age of the fund. CIC does not bother when the fund was deposited. As long as it is there when they check (only if they check!), you will be fine.
But that's just me!

You can do as you wish. You are covered!

Good luck!

 

[skiffyz]

Hello!
Your FDR will be perfect as proof of funds. You do not need to write an explanation for this. FDR statements are most commonly used POF's and CIC accept them very well. My brother used an FDR statement as his POF.

The rest of the fund in your savings account will be fine too. Do not include any explanation or include any supporting documentation for that yet. Since you have all the proof, simply keep them handy. CIC will probably never ask for those, but just in case! By the time CIC looks/checks your POF, it will be more than 4 months and they will not bother about the origin of the fund.

You will need to submit bank account statement from the 'bank', not one that you printed yourself. It has to be stamped and signed by your bank manager

Also, If I was you, I would put all of the money in one FDR and submit one statement as POF. This will simplify things. Do not worry about the age of the fund. CIC does not bother when the fund was deposited. As long as it is there when they check (only if they check!), you will be fine.
But that's just me!

You can do as you wish. You are covered!

Good luck!

Thank you for your reply. However, if I want to include the remaining amount in the FDR now, I will have to start over. Will it be a problem if I show partially as FDR and partially as Savings? 94% of the balance required is covered by FDR. Only the remaining balance, which I am having to show for exchange rate difference, is in my current a/c. Kindly advice!

 

[ishq74]

Thank you for your reply. However, if I want to include the remaining amount in the FDR now, I will have to start over. Will it be a problem if I show partially as FDR and partially as Savings? 94% of the balance required is covered by FDR. Only the remaining balance, which I am having to show for exchange rate difference, is in my current a/c. Kindly advice!

No need to break the old FDR, it is completely OK if you show them two separate accounts. Regarding the proof of fund, you only need to show this if your average balance for the past six months are not similar. In your case, by the time you submit the eAPR if your FDR is already six months old then no need to show the gift deed, other wise you should include it. Your personal 100,000 savings will not raise any question as it is coming from your salary. However, You must write a Letter of Explanation (formally known as LoE) to explain all your proof of fund.
Hope it helps, Good Luck!

 

[gautam1]

Hello!
Your FDR will be perfect as proof of funds. You do not need to write an explanation for this. FDR statements are most commonly used POF's and CIC accept them very well. My brother used an FDR statement as his POF.

The rest of the fund in your savings account will be fine too. Do not include any explanation or include any supporting documentation for that yet. Since you have all the proof, simply keep them handy. CIC will probably never ask for those, but just in case! By the time CIC looks/checks your POF, it will be more than 4 months and they will not bother about the origin of the fund.

You will need to submit bank account statement from the 'bank', not one that you printed yourself. It has to be stamped and signed by your bank manager.

Also, If I was you, I would put all of the money in one FDR and submit one statement as POF. This will simplify things. Do not worry about the age of the fund. CIC does not bother when the fund was deposited. As long as it is there when they check (only if they check!), you will be fine.
But that's just me!

You can do as you wish. You are covered!

Good luck!

Do u need to upload FDR reciepts or just the letter from bank mentioning the details along with opening date?
I have uploaded only the letter and not copy of fdr. Is it going to be a problem?