ezhilan81 said:Dear Seniors, I got my ITA in this draw (451), but I have problem with my finances. Request somebody to clarify this doubt for me.
I spoke to my bank to provide me a loan for 7 lacs and I will in turn deposit as FD in the same bank. I can provide a letter to CIC from the bank stating that I hold an FD here. I can issue the letter after 10 days as the FD needs to be there for minimum 10 days.
Will this be ok?
Or do I need to show how I got that 7 lacs in 1st place? But since it's an FD will that question arise as its more like a secure deposit and the bank will also pay interest on it
Thanks
Borrowed funds CANNOT be used as POF. You will be questioned about the source of funds and CIC will refuse the application when they know you have taken a loan from your bank.