Hi Experts,
I have some query related to POF.
I've secured a document from banks which they call 'Balance Certificate', which is a standard document showing the info as required by CICs 'Proof of Funds'. This document, however, does not reflect 'Average balance' of past 6 months. Bank officials tried their best to accommodate my request but according to them they cannot edit the format of the letter. I have now secured sign-stamped Bank Account Statement to fulfill requirement of 'average balance'.
Question 1: Will bank account statement fulfill the prime requirement of having 'average' balance on the balance certificate?
Question 2: Around 2 months back I received amount ranging upto 1lac from a friend of mine who owed me this amount. Will I need to explain the source of this fund? If yes, can a Letter of Explanation suffice?
Regards,
Ankit
I have some query related to POF.
I've secured a document from banks which they call 'Balance Certificate', which is a standard document showing the info as required by CICs 'Proof of Funds'. This document, however, does not reflect 'Average balance' of past 6 months. Bank officials tried their best to accommodate my request but according to them they cannot edit the format of the letter. I have now secured sign-stamped Bank Account Statement to fulfill requirement of 'average balance'.
Question 1: Will bank account statement fulfill the prime requirement of having 'average' balance on the balance certificate?
Question 2: Around 2 months back I received amount ranging upto 1lac from a friend of mine who owed me this amount. Will I need to explain the source of this fund? If yes, can a Letter of Explanation suffice?
Regards,
Ankit