Recent Fixed Deposits as a proof of funds?

[arch_e]

Hey guys ,
I'm applying under EE FSW. I'm currently working in Canada but i don't have enough funds for my application in my canadian bank account. . Can i go for making an encashable fixed deposit and getting a certificate from my bank in india. I'm planning to get my father put money into my account over there and then make an encashable FD out of it. I will maintain that FD thorough out the application process. Does that work? Any suggestions or word of advice?

 

[arch_e]

Cm'on fellas ..I've seen people with all sorts of circumstances and knowledge here.. comment please !!

 

[Ordinary]

Cm'on fellas ..I've seen people with all sorts of circumstances and knowledge here.. comment please !!

Please note that fixed deposit is not acceptable as a POF. Its not something that readily available. Some banks dont allow you to withdraw funds before expiry. Dont take chances.

 

[kishoresmec]

FD is acceptable. Don't worry, I am also in the same situation. But I am not sure whether how CIC ask the source of fund if it is deposited in the last minute!

 

[arch_e]

I was talking about encashable FDs that do not have any restrictions on their liquification or encashing. FDs are absolutely acceptable according to the information on cic's website

 

[Ordinary]

I was talking about encashable FDs that do not have any restrictions on their liquification or encashing. FDs are absolutely acceptable according to the information on cic's website

Here it it...where it is mentioned FD? Please note that CIC is very specific and any small mistake can result into rejection. I have confirmed with call center guys.

These funds could be in the form of:

cash
documents that show property or capital payable to you (such as stocks, bonds, debentures, treasury bills, etc.) or
documents that guarantee payment of a set amount of money, which are payable to you (such as bankers’ drafts, cheques, travellers’ cheques or money orders).

 

[kishoresmec]

Hey Ordinary,

It's the way how you bring it to Canada after u get PR

How much money should you bring?

It is a good idea to research how much it costs to live in the place where you plan to settle in Canada.

Bring as much money as you can to make moving and finding a home in Canada easier. Note, however, that Canadian customs regulations require you to declare if you are bringing more than C$10,000 into Canada. If you do not tell them, you may be fined or put in prison. These funds could be in the form of:

cash
documents that show property or capital payable to you (such as stocks, bonds, debentures, treasury bills, etc.) or
documents that guarantee payment of a set amount of money, which are payable to you (such as bankers' drafts, cheques, travellers' cheques or money orders).


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

Few of my friends kept only FD as their POF

 

[kishoresmec]

Please see in section '15'

http://www.cic.gc.ca/english/pdf/kits/forms/IMM5612E.pdf

You can have fixed Deposit as POF

 

[doobie.doobie]

Hey guys ,
I'm applying under EE FSW. I'm currently working in Canada but i don't have enough funds for my application in my canadian bank account. . Can i go for making an encashable fixed deposit and getting a certificate from my bank in india. I'm planning to get my father put money into my account over there and then make an encashable FD out of it. I will maintain that FD thorough out the application process. Does that work? Any suggestions or word of advice?

They need 6 months source. So you can use a combination of funds, some here in canada and rest in India.
now get a fd done in india, and obtain a letter from the branch manager saying that your account in india has this much balance and is available as and when required. Make sure the letter says your name, not fathers.
Try waiting for 4-5 before you submit your application.
If you have a good score, be patient and submit a solid application rather than getting rejected or banned.
A letter should be fine, and also in the meantime show some funds in Canada, and pay off debts, if any.

 

[niravk]

Here it it...where it is mentioned FD? Please note that CIC is very specific and any small mistake can result into rejection. I have confirmed with call center guys.

These funds could be in the form of:

cash
documents that show property or capital payable to you (such as stocks, bonds, debentures, treasury bills, etc.) or
documents that guarantee payment of a set amount of money, which are payable to you (such as bankers' drafts, cheques, travellers' cheques or money orders).

FD will be classified as a debt. There should be treated as a valid pof since they are highly liquid. Seniors please clarify

 

[doobie.doobie]

FD will be classified as a debt. There should be treated as a valid pof since they are highly liquid. Seniors please clarify

Fixed Deposits is like GIC in Canada. They are locked in but also you can cancel and get your money back, if not interest.
Yes, they are not liquid, and that's why I mentioned earlier. If you had FD then get it converted into liquid cash and its a vaild proof. So you should be okay.

 

[arch_e]

Thanks for sharing your comments guys. I'm gonna consult an attorney too just to make the right choice. I appreciate all the help .

 

[susana]

Hey guys ,
I'm applying under EE FSW. I'm currently working in Canada but i don't have enough funds for my application in my canadian bank account. . Can i go for making an encashable fixed deposit and getting a certificate from my bank in india. I'm planning to get my father put money into my account over there and then make an encashable FD out of it. I will maintain that FD thorough out the application process. Does that work? Any suggestions or word of advice?

Do you have a valid job offer ? ( currently working with an employer named in your work permit based in a LMO/lMIA ? )

Regards

 

[arch_e]

No I'm on a post graduation work permit ..so its an open permit