Query on Proof of Funds

[subho10]

Hi,

I am planning to apply for the Express entry along with my wife. I wanted to know what are the acceptable assets that can be shown.

Does fixed deposit qualify? Also do jointly held fixed deposits with parents qualify?

Does PPF qualify? If so considering me as the primary applicant and wife as secondary applicant does her
PPF account count towards the proof of funds?

Does Mutual Funds qualify?

Also how many months of statements are required for these holdings?

 

[mr.preetsingh]

Hi,

I am planning to apply for the Express entry along with my wife. I wanted to know what are the acceptable assets that can be shown.

Does fixed deposit qualify? Also do jointly held fixed deposits with parents qualify?

Does PPF qualify? If so considering me as the primary applicant and wife as secondary applicant does her
PPF account count towards the proof of funds?

Does Mutual Funds qualify?

Also how many months of statements are required for these holdings?

FDs are acceptable however should be with your wife only in joint account. Not with parents.

I prefer to have money in cash, lesser documents easy processing.

 

[hope2018]

Hi,

I am planning to apply for the Express entry along with my wife. I wanted to know what are the acceptable assets that can be shown.

Does fixed deposit qualify? Also do jointly held fixed deposits with parents qualify?

Does PPF qualify? If so considering me as the primary applicant and wife as secondary applicant does her
PPF account count towards the proof of funds?

Does Mutual Funds qualify?

Also how many months of statements are required for these holdings?

Fixed deposits yes.
With parents no.
PPF only if you can get in writing that it can be immediately liquidated.
Mutual funds not suggested as it is volatile.

6 months.

 

[cansha]

Hi,

I am planning to apply for the Express entry along with my wife. I wanted to know what are the acceptable assets that can be shown.

Does fixed deposit qualify? Also do jointly held fixed deposits with parents qualify?

Does PPF qualify? If so considering me as the primary applicant and wife as secondary applicant does her
PPF account count towards the proof of funds?

Does Mutual Funds qualify?

Also how many months of statements are required for these holdings?

There are two rules of thumb. One the funds should be "readily" available for you. And you need to have "access" to funds. So based on that yes Fixed deposits are valid. However with fixed deposits shared with other family members you need an affidavit from them that you will have access to those funds. You can have these affidavits on plain paper only.
I don't think PPF qualifies as such as these funds are not readily available. And given that mutual funds are subject to market risk I think they are not a good "proof" of your funds availability. Between now and your application submission that amount can vary a lot and hence use readily available funds to be sure.