I have few queries regarding POF.
I have all my savings, which is more than required for POF, invested in the bank in the form of Term Deposits (More than six months old). I do not keep more than a certain amount of money in my savings account as it doesn't return interest similar to term deposits.
So, I was curious to know whether I need to provide six months bank statement for my savings account?
I am planning to get a certificate from the bank mentioning all my term deposits details (Issue date, amount, maturity amount etc... )and submit it with the colored scanned copies of term deposits. Should I proceed with it?
Also, half of my term deposits are maturing in few days and If I choose to renew them, it will have a new issue date. However, the A/C no. for them would be the same. So, should I scan the current copies of term deposits and submit along with other POF docs to show their source? Also, should I attach an LOE for that?
Officially, I haven't been working since last year and a half, and I am gone mention that period as unemployed in personal history. However, I have sufficient savings from my previous earnings. Will it raise a flag if I mention my status as unemployed when it comes showing POF?
What other things do I need to keep in mind for POF?
N.B.: I won't be making the mistake of reposting the same query now...
Thanks a lot in advance.
Dr. Amit Triivedi
I have all my savings, which is more than required for POF, invested in the bank in the form of Term Deposits (More than six months old). I do not keep more than a certain amount of money in my savings account as it doesn't return interest similar to term deposits.
So, I was curious to know whether I need to provide six months bank statement for my savings account?
I am planning to get a certificate from the bank mentioning all my term deposits details (Issue date, amount, maturity amount etc... )and submit it with the colored scanned copies of term deposits. Should I proceed with it?
Also, half of my term deposits are maturing in few days and If I choose to renew them, it will have a new issue date. However, the A/C no. for them would be the same. So, should I scan the current copies of term deposits and submit along with other POF docs to show their source? Also, should I attach an LOE for that?
Officially, I haven't been working since last year and a half, and I am gone mention that period as unemployed in personal history. However, I have sufficient savings from my previous earnings. Will it raise a flag if I mention my status as unemployed when it comes showing POF?
What other things do I need to keep in mind for POF?
N.B.: I won't be making the mistake of reposting the same query now...
Thanks a lot in advance.
Dr. Amit Triivedi