Bank loans

[kaushalyap]

Hi,

Is it required to settle any bank loans we've taken prior to landing in canada?

 

[jackdawn]

No not required

 

[rajnsk]

Not required.
But remember, India has an Extradition Treaty with Canada

 

[kaushalyap]

But I'm not from India. I heard that in order to get CAD or a bank draft, any outstanding loans need to be cleared. And also a clearance from the central bank is required.

 

[jackdawn]

There is no such regulation. More over if ur loans r secured like home and Car it doesn't matter. Loans ul be paying from future income.

 

[kaushalyap]

There is no such regulation. More over if ur loans r secured like home and Car it doesn't matter. Loans ul be paying from future income.

I'm concerned on personal loans.

 

[nerd]

I'm concerned on personal loans.

not sure if your country has any specific rules for this.
In india there are no such rules.
you better check with someone from your nationality.

 

[samuelrajsrinivasan]

There is no such regulation. More over if ur loans r secured like home and Car it doesn't matter. Loans ul be paying from future income.

do i have to disclose to CIC when submitting the e-APR that I have an existing car loan how ever small it might be or is it wise to change the the car in my mom/father name?

 

[jackdawn]

do i have to disclose to CIC when submitting the e-APR that I have an existing car loan how ever small it might be or is it wise to change the the car in my mom/father name?

u dont have to disclose anything. Ur POF if available in a bank account, get a balance certificate along with 6 months statement. If there are any considerably large deposits support them with some evidence