Query on Proof of funds

[link.sj]

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

 

[ani8886]

http://www.canadavisa.com/canada-immigration-discussion-board/proof-of-funds-express-entry-t263315.0.html

I think you may follow this thread. I too have similar query, put on the above thread.

 

[DelPiero07]

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

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.

 

[miks]

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?

 

[DelPiero07]

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?

http://www.cic.gc.ca/english/immigrate/skilled/funds.asp

 

[Wolverine17]

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.

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??

 

[DelPiero07]

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??

Not at all.

 

[link.sj]

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.

Appreciate your prompt response, thank you.

 

[ani8886]

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

 

[Wolverine17]

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

I think they wont affect you as far as you show proper pof

 

[ani8886]

I think they wont affect you as far as you show proper pof

I hope they dont ask for funds, which are over and above my monthly installment for loan repayment.