Query regarding POF

[nitingoescanada]

Hi Guys,

this is my first post and I need your expert help in my application which I submitted yesterday itself.

I am holding around 13500 CAD as of now in my salary SB account and EMI of my car loan is has been deducting from the same account from last 1.5 years. Yesterday my consultant asked me to make an FD from SB account as EMI deduction will be visible in account statement if I show SB balance as POF. Now I created FD as per his advice but I am confused as FD would be only 2-3 months old if i receive ITA in next 1-2 draws (CRS score 449).

1. Is it fine if my FD creation date is with in 2 months of submitting all docs after ITA ? what additional proofs they can ask?

2. Is it ok if I submit Spouse SB account too as POF along with declaration from her that this fund is available to me for use? Spouse accompanying with me.

3. Can visa officer ask for bank statement too as FD is less than 2 months ?

4. Do the loan EMI deduction entry in bank statement will impact my POF amount? Would they calculate the amount after deducting the leftover loan amount. However FD and loan are in different banks so I am not planning to submit loan bank statements.

Thanks a lot for your support.

regards,
nitin

 

[nitingoescanada]

Any help pls. M nervous and early suggestions will help me to work on solutions ASAP.

 

[aahaanbajaj]

As per my understanding you need to show assets and liabilities in your POF. And about your concern of EMI being withdrawn from your SBA, I am sure if you maintain a balance of 13500 CAD, there would not be any issue. They are not asking to freeze your money until you land Canada. Its just that liquid money has to be there.

 

[aahaanbajaj]

Hi Guys,

this is my first post and I need your expert help in my application which I submitted yesterday itself.

I am holding around 13500 CAD as of now in my salary SB account and EMI of my car loan is has been deducting from the same account from last 1.5 years. Yesterday my consultant asked me to make an FD from SB account as EMI deduction will be visible in account statement if I show SB balance as POF. Now I created FD as per his advice but I am confused as FD would be only 2-3 months old if i receive ITA in next 1-2 draws (CRS score 449).

Money in your SBA was fine, however its okay in FD as well. You may clarify in the LOE that FD have better rate of Interest, so you have put your savings there recently, and FDs are as liquid as SBA

1. Is it fine if my FD creation date is with in 2 months of submitting all docs after ITA ? what additional proofs they can ask? Same answer

2. Is it ok if I submit Spouse SB account too as POF along with declaration from her that this fund is available to me for use? Spouse accompanying with me.

That would be okay too

3. Can visa officer ask for bank statement too as FD is less than 2 months ? Yes, I suggest you put some money in bank account and some in FD

4. Do the loan EMI deduction entry in bank statement will impact my POF amount? Would they calculate the amount after deducting the leftover loan amount. However FD and loan are in different banks so I am not planning to submit loan bank statement.

You must declare all your assets and liabilities. Maybe check with some expert before hiding loan details
Thanks a lot for your support.

regards,
nitin

 

[nitingoescanada]

thanks @aahaanbajaj .. Actually I have not been maintaining average balance of 13500 CAD. As its my salary account, by the day of paper submission post ITA, I'll accumulate required balance from my salary only.
Hope thats fine.