SINP Proof of Funds - Recurring Deposit

[averma]

Hi Guys,

I have a recurring deposit with a Private Sector Bank in India. I filed for SINP on 18th May 2016 and as per SINP POF policy funds has to be maintained in my account starting 18th Feb 2016.

As per the bank statement of Feb2016 I have INR XXXX in my Recurring Deposit. This amount consists of paid instalments only. Interest will be paid out at the time of RD maturity only. Obviously by May2016 there have been 3 more instalments and the amount in the RD has increased.

Bank has issued me a balance confirmation certificate stating the amount I have in the Savings Balance account, Recurring Deposit and Fixed Deposits. This letter is issued on 18th July for as of date. However they have not mentioned that this amount is withdrawable any time. Do I need to get this statement included in the letter? Is there a need to get this mentioned for Recurring Deposit on the certificate? In other words is it required to prove that premature withdrawal is allowed in case of Recurring Deposit.

On the website of bank under their products section for Recurring Deposits they have mentioned that premature withdrawal is allowed. Can I write a LOE stating that premature withdrawal is allowed and copy the link where this information is mentioned. Please advice guys.

 

[SoniaChhabra123]

Hi, I also have 2 recurring deposit account but not sure whether they could be part of Proof of funds for SINP. Please let me know if RD are alowed then what is the procedure to get the certificate from respective bank.
Thanks
Sonia

 

[ashuindian]

Hi, I also have 2 recurring deposit account but not sure whether they could be part of Proof of funds for SINP. Please let me know if RD are alowed then what is the procedure to get the certificate from respective bank.
Thanks
Sonia

How old is this? Should be in favor of you or Spouse. There should be 3 months old fund. Take the Certificate from the Manager on Bank Letter-head that the such and such fund of 3 months ago is still deposited. Mentioning your Name, Account number, etc.

 

[SoniaChhabra123]

Hi,
Thank u so much for your quick revert. I will take it soon and do they accept 5years FD.

Also I have proof of funds bifurcated in joint account, EPF and RDs.. Is it required to provide consolidated self attested letter to SINP or just providing the certificates along with statements are sufficient.

Thanks
Sonia

 

[ashuindian]

Hi,
Thank u so much for your quick revert. I will take it soon and do they accept 5years FD.

Also I have proof of funds bifurcated in joint account, EPF and RDs.. Is it required to provide consolidated self attested letter to SINP or just providing the certificates along with statements are sufficient.

Thanks
Sonia

Providing too much proof is beneficial.