“FUNDS & Supporting Documents”**URGENT***TIGER & Other Expert Pls help***

[Abhishek9]

Hi All,

Please help me with “FUNDS & Supporting Documents”...as I have decided to submit my VISA application in “GENERAL/GENERIC” category. Tuition Fee (1st Yr): $ 10,650. Course duration: 2 years.

Details of father financial status (All amount in INR):
Education Loan: 7.5 Lacs
GPF: 7.5 Lacs (savings- General Provident Fund, withdrawal upto 90% of the available balance is permitted)
Saving Bank A/c Balance: 1 Lacs
Salary (annually): 7 Lacs
Inherited Property (at native place i.e. U.P.): worth 40 Lacs

Supporting Documents: Loan Sanction Letter+ GPF statement+ 6 Months Banks statement+ 3 Months latest Pay slip+ 3 Years Form 16/ITR+ Inherited Property paper or if required valuation certificate from CA.

Is it enough to proof financial soundness to Visa Officer? Also,
Is it good idea to submit Valuation Certificate (for net worth of person) from CA to make case stronger?

Scenario- II: If I will deposit 1st Semester Fee of $ 6250 from my own saving/ cash, then, Shall I apply under SPP? Which is the best Bet to get VISA?

Abhishek
New Delhi, India

[R]

Hi All,

Please help me with “FUNDS & Supporting Documents”...as I have decided to submit my VISA application in “GENERAL/GENERIC” category. Tuition Fee (1st Yr): $ 10,650. Course duration: 2 years.

Details of father financial status (All amount in INR):
Education Loan: 7.5 Lacs
GPF: 7.5 Lacs (savings- General Provident Fund, withdrawal upto 90% of the available balance is permitted)
Saving Bank A/c Balance: 1 Lacs
Salary (annually): 7 Lacs
Inherited Property (at native place i.e. U.P.): worth 40 Lacs

Supporting Documents: Loan Sanction Letter+ GPF statement+ 6 Months Banks statement+ 3 Months latest Pay slip+ 3 Years Form 16/ITR+ Inherited Property paper or if required valuation certificate from CA.

Is it enough to proof financial soundness to Visa Officer? Also,
Is it good idea to submit Valuation Certificate (for net worth of person) from CA to make case stronger?

Scenario- II: If I will deposit 1st Semester Fee of $ 6250 from my own saving/ cash, then, Shall I apply under SPP? Which is the best Bet to get VISA?

Abhishek
New Delhi, India

In one line.....it's not enough. You will have to show Rs. 10 lacs loan for a 2 year course because you have to show living expenses as well.

[tiger007]

Hi All,

Please help me with “FUNDS & Supporting Documents”...as I have decided to submit my VISA application in “GENERAL/GENERIC” category. Tuition Fee (1st Yr): $ 10,650. Course duration: 2 years.

Details of father financial status (All amount in INR):
Education Loan: 7.5 Lacs
GPF: 7.5 Lacs (savings- General Provident Fund, withdrawal upto 90% of the available balance is permitted)
Saving Bank A/c Balance: 1 Lacs
Salary (annually): 7 Lacs
Inherited Property (at native place i.e. U.P.): worth 40 Lacs

Supporting Documents: Loan Sanction Letter+ GPF statement+ 6 Months Banks statement+ 3 Months latest Pay slip+ 3 Years Form 16/ITR+ Inherited Property paper or if required valuation certificate from CA.

Is it enough to proof financial soundness to Visa Officer? Also,
Is it good idea to submit Valuation Certificate (for net worth of person) from CA to make case stronger?

Scenario- II: If I will deposit 1st Semester Fee of $ 6250 from my own saving/ cash, then, Shall I apply under SPP? Which is the best Bet to get VISA?

Abhishek
New Delhi, India

Hi,

If you are applying for the first time... and that too to one of the colleges/Universities listed under SPP..it is highly reccomended that you apply under SPP..because simply put..you need far lesser documents and hence less bothersome and lesser things to show..and much faster processing of visa.

Chances of visa..ultimately depends on your overall profile, finances... and proper course selection.

If you apply under SPP... the ONLY document which you need to show (and it's compulsory) your strong financial position..is a loan approval letter from a recognized bank (listed by them) of an amount covering minimum 80% of your overall expenses of 1st academic year.
If you see this official SPP checklist:
http://www.vfs-canada.co.in/pdf/Student_Partners_Program_(SPP)_in_india_190412.pdf
It is clearly mentioned that you MUST have: Copy of an Educational Loan from an Indian Chartered Bank equivalent to at least 80% of tuition +living + travel expenses for one academic year (normally, first year's tuition, unless already paid, plus $8000).

Under General category..you will need to submit many more documents.
http://www.vfs-canada.co.in/pdf/study_permit_17-05-2012.pdf
But..even here it is mentioned..that it is strongly reccomended that: AS A PREFERRED OPTION for proof of funds: A copy of an Educational Loan from an Indian Chartered Bank equivalent to at least 80% of tuition +living + travel expenses for one academic year (normally, first year's tuition, unless already paid, plus $8000). See information on the next page for the list of acceptable banks.
Also..you will need to submit ITR returns of you/your dad orwhoever is sponsoring you.

So..in all... an educational loan from an accepted bank is the MOST important document to prove your financial strength. So..it is usually reccomended to take 80% of loan amount of 1st year tuition fees+10,000C$ (to show you have enough for living expenses..and won't be a burden..or look for work..and only concentrate on your studies) + atleast 2000C$ (for travel expenses). So..that's 10,650+10,000+2000= 22,650C$. 80% of this is 18,120C$ or 9.6 lacs (considering current exchange rate of 53INR-1c$). SO, round that off to 10 Lacs.

Hence..if you have an educational loan of MINIMUM 10 LACS Rs, from an accepted bank..that is the ONLY thing you need to show under SPP...and is also 1 of the most important document under general category too. So..don't make this all unnecessarily complicated... and just take a 10lacs rs loan(from an accepted bank) and apply under SPP(if your college is listed under SPP approved educational institutes).

Best of Luck.

***All info provided, are to the best of my knowledge and you should consult other sources too.

[sareen]

Hello every body.

If my brother is sponcering me from USA(He is citizan of USA) weather following documents will be sufficient/not

Sponcership Latter
Tax Returns
Bank Statement (20,000US$)

My Fee for ist year is 14000US$
Its mention on offer latter that I will obtaine schlorship from University of 2700C$


Thanks

[Abhishek9]

Thanks Tiger and R for your inputs...

This is first time I am applying for student VISA. The loan is from UCO bank which is approved by CHC.

The Loan amount cannot be increased from Rs. 7.5 Lacs in my case as I don't have anything for collateral in Delhi. Please suggest what best I should do considering the above mentioned situation.

[R]

Thanks Tiger and R for your inputs...

This is first time I am applying for student VISA. The loan is from UCO bank which is approved by CHC.

The Loan amount cannot be increased from Rs. 7.5 Lacs in my case as I don't have anything for collateral in Delhi. Please suggest what best I should do considering the above mentioned situation.

Again I will answer in one line (unlike this pussy tiger)........Pay your first term fees from saving and show Rs. 7.5 lacs in loan. And show all saving, investment papers.

[soberdeepak]

Sareen I'm afraid u shud even try for Visa coz ur English is simply out of this world !!! whats ur IELTS score if I may ask ?

[Family_Guy]

Tiger and R,

Does the loan have to be an "Educational Loan"? Can the situation of "full fees paid for the 1st year" + personal loan of 10 lacs work?
My situation is different. We are unable to get student loan due to difficulty in addressing in co-applicant needs?

Thanks and regards

[champ1388]

Tiger and R,

Does the loan have to be an "Educational Loan"? Can the situation of "full fees paid for the 1st year" + personal loan of 10 lacs work?
My situation is different. We are unable to get student loan due to difficulty in addressing in co-applicant needs?

Thanks and regards

It has to be educational loan

[Family_Guy]

It has to be educational loan

Thanks again!

[tiger007]

Thanks Tiger and R for your inputs...

This is first time I am applying for student VISA. The loan is from UCO bank which is approved by CHC.

The Loan amount cannot be increased from Rs. 7.5 Lacs in my case as I don't have anything for collateral in Delhi. Please suggest what best I should do considering the above mentioned situation.

Again I will answer in one line (unlike this pussy tiger)........Pay your first term fees from saving and show Rs. 7.5 lacs in loan. And show all saving, investment papers.

   @    Abhishek9...

Hi,

I try to reply in detail..so the things should be as clear as possible. If you could take a loan of just 10lacs and apply under SPP...then you would not need any other documents.

But since..you cannot take a loan of more than 7.5 lacs, so take the loan... pay the 1st term fees from your pocket...attach the paid receipts and loan approval letter of 7.5 lacs.... and then APPLY UNDER SPP (If you are applying to a college listed on SPP list). This should do. Under SPP... you do not need to show any other extra documents.
If u see the official checklist:http://www.vfs-canada.co.in/pdf/Student_Partners_Program_(SPP)_in_india_190412.pdf
Copy of an Educational Loan from an Indian Chartered Bank equivalent to at least 80% of tuition +living + travel expenses for one academic year (normally, first year's tuition, unless already paid, plus $8000).

So..under SPP loan approval letter of 7.5lacs +1st sem fees paid is ENOUGH...and unlike "R" who is asking you to show all savings and investment papers.... I strongly reccomend you to apply under SPP and do not add and extra documents. Follow the official checklist.

Also, keep in mind..if you are an Indian citizen applying for a Canadian study visa for the 1st time... that too to a Canadian educational institute listed under SPP, then if you miss the once in a lifetime opportunity to apply under SPP...(you can apply only once..and if you have any previous Canadian study visa rejection in any other category like SPP, General (Univ) or General..) you can never apply under SPP. The benifit of applying under SPP..is least documentation..much much faster proceesing time ...anywhere between 3-15 days.. and thus swift decesion is taken in your case file.

To check if the Canadian educational institute you are applying to..falls under SPP... see:
http://www.cic.gc.ca/english/department/media/backgrounders/2010/2010-01-28.asp

Now..incase..your institute is NOT listed under SPP... or you are just stuck on applying under General category...then you will need to show other documents mainly ITR returns of you/your sponsor's ITR etc. and probably savings too.
If you see the general category checklist:
http://www.vfs-canada.co.in/pdf/study_permit_17-05-2012.pdf

It is clearly mentioned..that it is strongly reccomended that you show:

AS A PREFERRED OPTION for proof of funds: A copy of an Educational Loan from an Indian Chartered Bank equivalent to at least 80% of tuition +living + travel expenses for one academic year (normally, first year's tuition, unless already paid, plus $8000). See information on the next page for the list of acceptable banks.

Copy of receipts for payment provided by the University (pre-payment of first term is strongly recommended)

Form 16 for salaried employees or income tax return document.

Reference letter from the individual(s) providing you financial assistance for your program. The letter must indicate their occupation and relationship to you, the number of dependents they have and their full contact details. You should also provide a letter from the employer of the individual(s) providing you financial assistance for your program, clearly indicating employer contact details and full street address of business location.

Even if you are unable to secure a loan amount equivalent to 80% of total expenses.. still.. under General you will need to show the loan approval letter of 7.5lacs+ 1st sem fees paid receipt+ ITR returns+ reference letter as to who is your sponsor (if any) +savings (I THINK... it's optional in your case...as you will be covering the financial requiremnts with loan+1st sem fees paid... as ONLY those who have not secured any kind of loan form an approved bank..will need to show all savings/investment papers etc etc. You should confirm this elsewhere too.)

So..it's upto you to apply under General or SPP.

Best of Luck.

***All info provided is to the best of my knowledge, and you should consult other sources too.



   @   R

Rather than calling names..and acting like 1 tough know-it-all smarty... kindly contribute more (in a meaningful way) on this forum. We all are here for a reason...for to share ideas and knowledge about this topic(Canadian visa).. and it would be appreciated if you could do so...without calling names or mocking others. As you see..many of us here do mistakes..ask stupid questions..or are plainly confused..we look here for help..not to get mocked or insulted. Hope you get my point.
Have a good day.

  

[sareen]

Deepak My chan ji M asking about documentation not about my English Language evaluation from you,

[soberdeepak]

IELTS is a part of docs !!!

[Ankit.26]

Hi,

If you are applying for the first time... and that too to one of the colleges/Universities listed under SPP..it is highly reccomended that you apply under SPP..because simply put..you need far lesser documents and hence less bothersome and lesser things to show..and much faster processing of visa.

Chances of visa..ultimately depends on your overall profile, finances... and proper course selection.

If you apply under SPP... the ONLY document which you need to show (and it's compulsory) your strong financial position..is a loan approval letter from a recognized bank (listed by them) of an amount covering minimum 80% of your overall expenses of 1st academic year.
If you see this official SPP checklist:
http://www.vfs-canada.co.in/pdf/Student_Partners_Program_(SPP)_in_india_190412.pdf
It is clearly mentioned that you MUST have: Copy of an Educational Loan from an Indian Chartered Bank equivalent to at least 80% of tuition +living + travel expenses for one academic year (normally, first year's tuition, unless already paid, plus $8000).

Under General category..you will need to submit many more documents.
http://www.vfs-canada.co.in/pdf/study_permit_17-05-2012.pdf
But..even here it is mentioned..that it is strongly reccomended that: AS A PREFERRED OPTION for proof of funds: A copy of an Educational Loan from an Indian Chartered Bank equivalent to at least 80% of tuition +living + travel expenses for one academic year (normally, first year's tuition, unless already paid, plus $8000). See information on the next page for the list of acceptable banks.
Also..you will need to submit ITR returns of you/your dad orwhoever is sponsoring you.

So..in all... an educational loan from an accepted bank is the MOST important document to prove your financial strength. So..it is usually reccomended to take 80% of loan amount of 1st year tuition fees+10,000C$ (to show you have enough for living expenses..and won't be a burden..or look for work..and only concentrate on your studies) + atleast 2000C$ (for travel expenses). So..that's 10,650+10,000+2000= 22,650C$. 80% of this is 18,120C$ or 9.6 lacs (considering current exchange rate of 53INR-1c$). SO, round that off to 10 Lacs.

Hence..if you have an educational loan of MINIMUM 10 LACS Rs, from an accepted bank..that is the ONLY thing you need to show under SPP...and is also 1 of the most important document under general category too. So..don't make this all unnecessarily complicated... and just take a 10lacs rs loan(from an accepted bank) and apply under SPP(if your college is listed under SPP approved educational institutes).

Best of Luck.

***All info provided, are to the best of my knowledge and you should consult other sources too.
hi enfield
i wanted a fair advice from you that i applied for canadian student visa under spp category every other thing was clean from my side...but my visa got rejected reason stated that loan is not 80% of remaining expenses for studies in canada(living and tuition expenses)...i am again applying under genric category wat r my chances....i only have 2yrs of ITR and around 2 lakh rupees in bank deposit in my parents account....my fees is arnd 147000 INR AT CURRENT EXCHANGE rate out of which i have already send 8365 dollar against my 1st semester fees out of my own funds...rest i have taken a loan of 9 lakh rupees..will i be getting under genric category or is it still difficult...does ITR and bank deposit play a important role in getting a visa if we have already arranged for the fees already ...Thanks
Ankit