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Proof of funds requirements - Explained

kanu

Hero Member
Feb 26, 2015
366
263
Category........
FSW
NOC Code......
2281
hi, did u use mutual funds as POF for your application?
No i did not but did mentioned then as additional funds. My MF are tax Savings so they are locked for 3 years. Hence I was not able to liquidate them and show it.
If you want to show MF then beat way is to liquidate them and show the funds.
 
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vemuri

Member
Jan 3, 2018
19
2
One more input will be to arrange a 6 month bank statement and attach it along with the letter that you will eventually submit.
This is not a must, but it kind of provides a good insight to the case officer reviewing your application about your funds.
Hi bimale4bipeople,

I have collected below letters from my bank.

1. Bank Letter which states available funds and account opened details (Dated to 7th June 2018)
2. Single Bank statement which shows last 12 months transactions (This is taken this week)
3. Another bank letter from manager confirming money is transferred from my parents account to my account (dated 7th June 2018)
4. Finally an affidavit from my mother (Dated 25th June 2018)

when i am verifying documents i have noticed Bank Letters are ONE month old. I am thinking to submit my documents by end of JULY Month.

Do you think this documentation will be accepted, even if the bank letters are more than one month OLD ?
 

bimale4bipeople

VIP Member
Apr 15, 2018
4,627
1,674
Hi bimale4bipeople,

I have collected below letters from my bank.

1. Bank Letter which states available funds and account opened details (Dated to 7th June 2018) - If you are submitting by end of this month, I would suggest to go for an updated bank letter, close to the submission date.
2. Single Bank statement which shows last 12 months transactions (This is taken this week) - If you are submitting by end of this month, I would suggest to go for an updated bank statement(just go for 6 months), close to the submission date.
3. Another bank letter from manager confirming money is transferred from my parents account to my account (dated 7th June 2018) - This one is fine...
4. Finally an affidavit from my mother (Dated 25th June 2018) - This one is fine...

when i am verifying documents i have noticed Bank Letters are ONE month old. I am thinking to submit my documents by end of JULY Month.

Do you think this documentation will be accepted, even if the bank letters are more than one month OLD ?
Please see my embedded comments in blue...
 

Eli31

Hero Member
Mar 26, 2018
418
130
37
NOC Code......
1311
Hi, I've got a doubt with POF
My parents will transfer the CAD 12475 to my account but I am waiting to receive ITA to proceed as yield in my parents account is greater than mine
As my POF will be a gift from parents, is it required to show the six month balance? or showing that balance for 2 months and notarized affidavit would be fine ? Thank you for your feedback and insights
 

oidieploidie

Newbie
Jun 27, 2018
6
1
But I hear it is next to impossible to get a job offer in Canada unless there on site? Also, how would they know if the money came off a bank loan?...
 

ishangodbole

Hero Member
Feb 26, 2018
453
259
Hi, I've got a doubt with POF
My parents will transfer the CAD 12475 to my account but I am waiting to receive ITA to proceed as yield in my parents account is greater than mine
As my POF will be a gift from parents, is it required to show the six month balance? or showing that balance for 2 months and notarized affidavit would be fine ? Thank you for your feedback and insights
Not an expert but yeah, you'll need affidavit and six months balance just to be on safe side and you can explain that in LOE.
 
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viki1805

Hero Member
Jun 13, 2018
472
209
Category........
FSW
NOC Code......
2132
App. Filed.......
12-06-2018
will the proof of showing around the minimum amount of 12300 suffice ? I plan on showing about 13200 CAD. does the currency exchange rate fluctuations affect their evaluation as well ?
 

atxvm08

Newbie
Aug 1, 2018
2
0
I have a question with respect to the POF. My bank account does not have an average of 12475 CAD over the last 6 months, but for the last 2 months out of 6 months, the average is above 12475 CAD. Is that sufficient proof of funds for a single applicant ?

Alternatively, I can add gift deed from my parents to my current balance satisfy this requirement, but by adding in gift deed, will it satisfy the requirement for average balance of 6 months to be above 12475 CAD?
 

Ruchir_Pandya

Newbie
Dec 26, 2017
2
0
Thank you Shibuya for the information.

Chatfriend,

You have indicated in your post that you have shown stocks as POF and it was considered.

On the same note : could you confirm, if life insurance premiums are also considred as POF



shreya99
Thank you for sharig the info you received from the CHC.

-Matlal
Hello

need advice on following questions.

1) Is it advisable to shown NSDL Consolidated Statement as a proof of fund (100 % Stocks) which issue by NSDL(National Security Depository Limited). Kindly note that document is Monthly Consolidated statement for last 8 months. will it work in CIC process?

2) In order to support above question if bank will provide the official letter on letter head (with contact information) regarding all details of investment in stocks and its current value. Will it work?

Kindly advice.
 

mansham.bhargava

Star Member
Apr 30, 2017
59
10
few queries
1. can i take the money from my brother and attach a gift deed along?
2. If my spouse is the secondary applicant, can we both add our funds in respective saving accounts and show POF
3. Provident Fund amount can be showcased as proof of fund?
 

Immortal111088

Full Member
Aug 2, 2018
22
2
If anyone could please solve my query, I shall be more than thankful. I didn't have the required money to show as a proof of funds in my account. However I had cash.
I told my father and mother to transfer the money to their savings account and then transfer to mine. They did so and I created FDs. The problems is that these FDs are relatively new and I have my ITA. What should I do? Are they eligible as they are in my name. Is this ok and will it cause any suspicion or doubts.


Please please please help me out
 

RedCherry

Full Member
Apr 26, 2018
30
3
Hi All,

I need some guidance.
I have maintained minimum balance in my account in past 5 months of around 10.5 L INR as needed for family of three.However I have made some withdrawals and deposits as this is my salary account.The transactions do not exceed 50000 INR over and above the minimum balance,but if I am submitting bank statement they will show.Will an explanantion be needed for this?I do not want to disclose my bank statements as I do not want to land in different banks again to show that those accounts belong to me from where i have done some deposits to my salary account.Nothing more than 50k though.