Thanks a lot“Funds must be readily available to you. For example, you can't use equity on real property as proof of settlement funds.”
Funds should be either in Savings/Current account or should be convertible to savings/current account balance almost instantaneously. That would generally leave the following options:
- Savings/Current account balance
- FD/RD balances. You can attach an explanation letter stating that these investments can be liquidated immediately.
- Provident Fund. Please note that you should use only EPF balances and not the PPF balance as PPF balance can’t be liquidated in entirety. For EPF, you can attach an explanation stating that you will be leaving your current job before moving to Canada and EPF can be withdrawn after you quit your job.
Check out the attached link for procedure to get a PF balance certificate: Procedure to get PF Balance Certificate and A/C statement from PF OFFICE-INDIA.
Employer’s contribution is as good as your own contribution for the purpose of “Proof of Funds”- Equity/Mutual Funds/Liquid Funds. Though the value changes on a daily basis, you can value these investments at the lowest traded rate over the last 6 months and attach an explanation letter for the same.
***** as your funds are in the savings account you can show the same I feel, but at the same time you need to prove that although they are fixed for a period of 5 years you can liquidate them whenever you want. If you can do this then you are good to go.*****
All the best.