query on proof of funds

[Incredibles]

Hi everyone

What items are considered as proof of funds?
I'm thinking of the following:
1. Cash at bank
2. Mutual funds
3. Savings certificates
4. Stocks/shares in my name

Are they all or there can b some more that I'm not thinking of?

 

[CanadaWeCome]

Hi everyone

What items are considered as proof of funds?
I'm thinking of the following:
1. Cash at bank
2. Mutual funds
3. Savings certificates
4. Stocks/shares in my name

Are they all or there can b some more that I'm not thinking of?

Anything (including the above that you mentioned) that can be liquidated soon enough e.g. FDs & RDs etc. but does not include immovable property like land, house etc...

 

[rajanvnv]

Hi everyone

What items are considered as proof of funds?
I'm thinking of the following:
1. Cash at bank
2. Mutual funds
3. Savings certificates
4. Stocks/shares in my name

Are they all or there can b some more that I'm not thinking of?

Risky asset classes like stocks/shares cannot be shown as POF as their value can drop or rise depending on market conditions and other various other factors. If I were you, I would in fact not include Mutual funds as well for POF as their underlying investment is also equities to some extent. I would ensure cash and savings certificate make up for the requirement of POF and additionally include the other items to show that I have other fall back options as well

 

[EST123]

Hello All,

Has anybody used mutual funds as POF and been successful? I have roughly $60,000 tied up in mutual funds, however Asivad has suggested that these are not suitable.

I really do not want to cash in these investments as I would be losing quite a bit of money. I only have 6 days remaining to submit my application, so I couldn't sell the funds and be in receipt of the cash in that timescale in any case.

I am really worried, this is my third attempt at submitting a PR application and I know that this could be an issue.

Any information would be gratefully received.

Thanks,

EST123