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Student Visa Proof of Funds. HELP!

muhammad.rumais

muhammad.rumais

Full Member
May 15, 2018
26
0
Everything's almost clear now. You mentioned GIC. What is it? I googled it but I am unable to understand. I am going for my undergraduate studies at Memorial university by the way. So do I need it for a study permit?

Moreover, can I show bank statements from 2 banks? 1 from Saudi Arabia and another from Pakistan? Both bank accounts are my fathers. I am asking because the friends who are lending us money are in Pakistan and its easier to transfer locally instead of internationally.

I will also take a loan here in Saudi Arabia so I have a decent amount overall. Here, bank loans can be issued in 3 days to 1 week. Should I get it now or in October/November? Near to when I will be sending my visa application.
 
M

Manohar Rathod

Hero Member
Aug 28, 2017
310
53
muhammad.rumais said:
Everything's almost clear now. You mentioned GIC. What is it? I googled it but I am unable to understand. I am going for my undergraduate studies at Memorial university by the way. So do I need it for a study permit?

Moreover, can I show bank statements from 2 banks? 1 from Saudi Arabia and another from Pakistan? Both bank accounts are my fathers. I am asking because the friends who are lending us money are in Pakistan and its easier to transfer locally instead of internationally.

I will also take a loan here in Saudi Arabia so I have a decent amount overall. Here, bank loans can be issued in 3 days to 1 week. Should I get it now or in October/November? Near to when I will be sending my visa application.
Click to expand...
Muhammad bhai...
You can show statements of both the accounts not an issue as your father is your sponsor but still I insist you to research more on this. I don’t think there would be any issue.
For Jan intake file visa before 3-4 months of your intake & accordingly plan when would you be availing loan. Make sure the loan amount should reflect in your account atleast for 4 months if it’s personal loan and if it’s .edu loan then you can attach the sanction letter along with your visa application.
GIC is a guaranteed investment certificate & is for your one year living expenses. You need to do a wire transfer from your account from bank branch to ICICI or Nova Scotia Bank in Canada.
Amount is 10,000 CAD plus their charges.
Upon reaching Canada you can active your ICICI or Nova Scotia bank account and bank will refund you your money on a monthly basis for your living expenses. Initially they would refund 2000 CAD and approx 670CAD for the rest of the months.
 
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muhammad.rumais

muhammad.rumais

Full Member
May 15, 2018
26
0
Manohar Rathod said:
Muhammad bhai...
You can show statements of both the accounts not an issue as your father is your sponsor but still I insist you to research more on this. I don’t think there would be any issue.
For Jan intake file visa before 3-4 months of your intake & accordingly plan when would you be availing loan. Make sure the loan amount should reflect in your account atleast for 4 months if it’s personal loan and if it’s .edu loan then you can attach the sanction letter along with your visa application.
GIC is a guaranteed investment certificate & is for your one year living expenses. You need to do a wire transfer from your account from bank branch to ICICI or Nova Scotia Bank in Canada.
Amount is 10,000 CAD plus their charges.
Upon reaching Canada you can active your ICICI or Nova Scotia bank account and bank will refund you your money on a monthly basis for your living expenses. Initially they would refund 2000 CAD and approx 670CAD for the rest of the months.
Click to expand...

Thanks! I think that sums it up. I will be updating this post about my progress and if anything new comes up.

You can now work in peace Mr. Manohar. :D

Thanks again!
 
muhammad.rumais

muhammad.rumais

Full Member
May 15, 2018
26
0
Manohar Rathod said:
Muhammad bhai...
You can show statements of both the accounts not an issue as your father is your sponsor but still I insist you to research more on this. I don’t think there would be any issue.
For Jan intake file visa before 3-4 months of your intake & accordingly plan when would you be availing loan. Make sure the loan amount should reflect in your account atleast for 4 months if it’s personal loan and if it’s .edu loan then you can attach the sanction letter along with your visa application.
GIC is a guaranteed investment certificate & is for your one year living expenses. You need to do a wire transfer from your account from bank branch to ICICI or Nova Scotia Bank in Canada.
Amount is 10,000 CAD plus their charges.
Upon reaching Canada you can active your ICICI or Nova Scotia bank account and bank will refund you your money on a monthly basis for your living expenses. Initially they would refund 2000 CAD and approx 670CAD for the rest of the months.
Click to expand...

Sir,
Sorry to disturb you again. But I promise this is the last question. Should I attach the document stating I took a personal loan in my application? To justify the monthly payments going to the bank from my account.

Please reply. Thanks!
 
M

Manohar Rathod

Hero Member
Aug 28, 2017
310
53
muhammad.rumais said:
Sir,
Sorry to disturb you again. But I promise this is the last question. Should I attach the document stating I took a personal loan in my application? To justify the monthly payments going to the bank from my account.

Please reply. Thanks!
Click to expand...
Don’t attach. Only if you taking education loan then only you have to attach the sanction letter . And don’t even mention about it in your SOP too.
Btw it’s ok if you have any questions and I can help you in anyway with what I know :)
 
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