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Query on Proof of funds

L

link.sj

Newbie
Feb 2, 2017
3
0
Hi, though a lot has been discussed in this forum about proof of funds however, I feel there are still some questions which have been left unanswered.

1. For a family of 3 the average funds required are 18825 CAD, do I have to maintain these funds for 6 months prior to receiving an ITA.
2. You get a 90 day limit to accept the invitation and submit your application, assuming i am short of the minimum average balance and If i receive funds closer to the last day as a gift from my family will the amount be counted?
3.There is a mention of a term average balance for six months what does this mean and how does it impact my application?

I have received an ITA on January 25, 2017 and immediate response will be much appreciated.

Thanks in Advance
Saurav
 
link.sj said:
Hi, though a lot has been discussed in this forum about proof of funds however, I feel there are still some questions which have been left unanswered.

1. For a family of 3 the average funds required are 18825 CAD, do I have to maintain these funds for 6 months prior to receiving an ITA.
2. You get a 90 day limit to accept the invitation and submit your application, assuming i am short of the minimum average balance and If i receive funds closer to the last day as a gift from my family will the amount be counted?
3.There is a mention of a term average balance for six months what does this mean and how does it impact my application?

I have received an ITA on January 25, 2017 and immediate response will be much appreciated.

Thanks in Advance
Saurav
Click to expand...

1 - No.
2 - That's fine as long as you get a gift deed letter and proof of transfer.
3 - This average is for the officer to see if there are any red flags regarding the current amount and the average balance of the past 6 months. I.e - if your balance is 2k and your current balance is 18k, such difference would cause suspicion.
 
Hi,

Regarding POF, i need the below details:

We r three family members.(Me,my wife,3 year old daughter)
How much fund do i need to show?
Do i need to keep the said funds for six months and then apply?
At this moment, i have CAD 5096.

Since when and till when fund should be kept in bank?
 
miks said:
Hi,

Regarding POF, i need the below details:

We r three family members.(Me,my wife,3 year old daughter)
How much fund do i need to show?
Do i need to keep the said funds for six months and then apply?
At this moment, i have CAD 5096.

Since when and till when fund should be kept in bank?
Click to expand...

http://www.cic.gc.ca/english/immigrate/skilled/funds.asp
 
DelPiero07 said:
1 - No.
2 - That's fine as long as you get a gift deed letter and proof of transfer.
3 - This average is for the officer to see if there are any red flags regarding the current amount and the average balance of the past 6 months. I.e - if your balance is 2k and your current balance is 18k, such difference would cause suspicion.
Click to expand...
Does it matter if i am little short of the pof at the time of ita but have the amount by the time of submission??
 
Wolverine17 said:
Does it matter if i am little short of the pof at the time of ita but have the amount by the time of submission??
Click to expand...

Not at all.
 
DelPiero07 said:
1 - No.
2 - That's fine as long as you get a gift deed letter and proof of transfer.
3 - This average is for the officer to see if there are any red flags regarding the current amount and the average balance of the past 6 months. I.e - if your balance is 2k and your current balance is 18k, such difference would cause suspicion.
Click to expand...

Appreciate your prompt response, thank you.
 
Hi,

Further query: How does an existing loan impact my application?

I have a housing loan and education loan

Thanks in advance for your suggestions
 
ani8886 said:
Hi,

Further query: How does an existing loan impact my application?

I have a housing loan and education loan

Thanks in advance for your suggestions
Click to expand...
I think they wont affect you as far as you show proper pof
 
Wolverine17 said:
I think they wont affect you as far as you show proper pof
Click to expand...
I hope they dont ask for funds, which are over and above my monthly installment for loan repayment.
 
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