Regarding POF after ITA

[matrixreloded]

Hello,
So i dont have the $12,960 for POF. My sister or father will be taking a loan and then giving me the amount as gift deed.
The loan will be taken after I receive ITA. Is that ok or do we need to have the $12960 ready in my account on the day of PR account creation?

 

[primaprime]

You only need to document your funds once you have an ITA, but a loan is not acceptable as proof of funds. They want to see a consistent savings balance in the 6 months prior to your application. The idea is for the money to be used to support your settlement in Canada, not to be repaid to the lender. You should wait until you meet all of the requirements (including having actual proof of funds) to apply.

 

[matrixreloded]

You only need to document your funds once you have an ITA, but a loan is not acceptable as proof of funds. They want to see a consistent savings balance in the 6 months prior to your application. The idea is for the money to be used to support your settlement in Canada, not to be repaid to the lender. You should wait until you meet all of the requirements (including having actual proof of funds) to apply.

but if my sibling or father is taking a loan and giving me a gift deed then still its not allowed?
The loan is not on my name, nor do I have to return it.

 

[primaprime]

A large deposit into your account at the time of your application is still not good enough because it inherently raises questions about where the money is from and if it will still be there when you actually land in Canada. They want to see a consistent balance for several months prior, establishing that you are responsible with money and genuinely meet the financial requirements.