Proof of Funds

[afrosa]

Hello guys,

Urgent Matter!

I'm about to submit my study permit and I want to do it as speedy as possible. However, I've heard about how meticulous they can be on processing our documents and I have a practical constrain which is about the "Proof of financial support".

I've managed to get a loan from a Bank in my country (Portugal). I know that soon enough I'll have my loan aprooved with an official document, but in practical terms, the money per se won't be handed to me until a couple of weeks. As I would like to submit a bank draft but I'm short on time...

So may I submit my study permit application prooving my financial sustainability with my "loan approval official document"? Will it work as a "proof of a student/education loan from a financial institution"? Or do you think that I'll need an extra apart from that document from my bank?

Cheers all,

André

Please if someone have goone through this let me know and share some thoughts.

 

[Regina]

You need a bank statement with money on it. My guess.

 

[afrosa]

Regina,

Thank you for your reply. Let us see:

Acoording to the CIC Canada website, I must prove that I can support myself while I am in Canada.

I can prove that I have sufficient funds to support myself in Canada by showing some of the following:


1)proof of a Canadian bank account in your name if money has been transferred to Canada;

2)proof of a student/education loan from a financial institution;

3)your bank statements for the past four months;

4)a bank draft in convertible currency;

5)proof of payment of tuition and accommodation fees;

6)a letter from the person or institution providing you with money; and

7)proof of funding paid from within Canada if you have a scholarship or are in a Canadian-funded educational program.


When they refer to 2nd method of does evidences are they talking about actual money or the document I referred on my previous post is enough?

So my doubt is about this method of showing my financial capacity. I would like to show them my bank balance acount (bank draft) but since I'm short on time, I was thinking about aiming to that "proof of a student/education loan from a financial institution" by using my loan confirmation final acceptance.

Hence, do you still think I'll have to "show the money"?

Merci

 

[henrypuckhett]

1)proof of a Canadian bank account in your name if money has been transferred to Canada;

2)proof of a student/education loan from a financial institution;

Bonjour!

Is it possible to make a student bank account from outside Canada? (I don't think so)
If you show the proof of loan, this makes the VO think that you won't return after your course and will work there to pay the loan.
So I suggest you to handle this situation carefully. Prepare a personal statement and show the complete financial details in a table.

ce qui concerne

 

[Regina]

you show the proof of loan

From VO point of view nothing is wrong with gettin loan from the bank at homecountry. Some banks in some countries have special loans for studends who wihes to study abroad.

 

[afrosa]

Bonjour mes amis and Regina Yeah I do agree with you.

Come on henrypuckhett, imagine that we had to get the loan from within Canada.... It would be very complicated... So even if I'm allways stressing out, I wont even bother with my homeland loan... I think there's no reason to raise any concearns about it.

But I do keep my previous post for you Regina. Anyways, I've took it upon myself to wait for my bankdraft and I will submit also a bank statement describing the student loan. I think the maximum documents you sent the best!

Another question mes amis:

I'm from Portugal so I'm gona opt for the Online method. The office that is gonna acess my file is the Paris one.

It says that the average processing time is 4 weeks for the Paris Office. I want to submit my app next week so I'll have like 7 weeks ahead of me. I know I know I know I know that we have to do it as sson as possible but what do you think? Will I have time to do it? If everything will be in order wll I have my ok before May?

Please shre your experiences.

Merci

 

[henrypuckhett]

The average processing time is 4 to 6 weeks but don't calculate Saturdays, Sundays and other public holidays. If your course starting in May they will try to speed up your process. But make sure all the documents are submitted clearly. Close every chances of getting your visa refused. Make a list showing the details mentioned below and proceed according to that. These are the common reason for the refusal of visa

Financial Support (hold the loan amount for at least 1 month and show the statement, other incomes, sponsor details, if there)
Current Immigration status and employment situation( if you are employed, get an NOC from your employer)
Travel History (mention your previous travels, attach a copy of immigration stamps from your passport)
Show strong ties in your country of citizenship.( proof of fixed assets, spouse, parents, you can even show your parent's assets. Note: get all the proof attested from a Notary Public)
Purpose of visit ( if you are planning to do a course which is not related to your previous studies, then explain why you're selecting that course)
Limited employment prospects in your country of residence( doing a course which has no value in your country)
If possible, show a police clearance certificate.

Tous les meilleurs

Merci