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Can Visa be rejected under SDS category on behalf of financial insufficiency?

rsengar3

Newbie
Jul 17, 2020
7
0
Hi,
I want to know even if we pay first year fees and GIC, Can my visa still be rejected because of financial insufficiency? I have not shown any proof of funds neither my father's income on SOP as it is 5 lakhs year only.
 

lolcocks

Hero Member
Jul 23, 2020
287
80
I actually have a similar question.

I am not sure if I should show proof of funds for SDS. While I can get a upfront GIC and meet all the requirements, showing high levels of liquid assets might not be possible for me
 

Dreamer$04

Member
Sep 23, 2020
14
0
Hi,
I want to know even if we pay first year fees and GIC, Can my visa still be rejected because of financial insufficiency? I have not shown any proof of funds neither my father's income on SOP as it is 5 lakhs year only.
I actually have the same questions.
 

jigzyy

VIP Member
Jul 1, 2010
3,840
789
Canada
Category........
FSW
Visa Office......
London
NOC Code......
2174
App. Filed.......
04-05-2013
AOR Received.
09-07-2013
File Transfer...
22-07-2013
Med's Request
02-04-2014
Med's Done....
15-04-2014
Interview........
21-01-2014
Passport Req..
01-07-2014
VISA ISSUED...
14-07-2014
LANDED..........
22-09-2014
Absolutely. It can be refused for financial insufficiency under SDS as well. Like someone else mentioned here, for students that are in India, it's easy for them to get educational loan and apply using that. It acts as two things, 1- Financial sufficiency + 2- As a strong home tie because the loan has been issued against something. Instead of depleting all savings, its better to go with the loan + show savings as back up source of financial support which will then act as a stream of money for future years.
 

Nottanyaverma

Hero Member
Oct 28, 2019
213
31
I took a loan, paid for the first year. Paid for GIC from savings. Showed these two payments and for the second year, I showed thrice the amount that is required by attaching liquid assets' statements. Applied for the visa yesterday. Let's see how it goes.
 

Kadimi

Newbie
Dec 23, 2020
3
0
I took a loan, paid for the first year. Paid for GIC from savings. Showed these two payments and for the second year, I showed thrice the amount that is required by attaching liquid assets' statements. Applied for the visa yesterday. Let's see how it goes.
Did you get it?
 

Atchu

Star Member
Jan 27, 2020
129
8
Absolutely. It can be refused for financial insufficiency under SDS as well. Like someone else mentioned here, for students that are in India, it's easy for them to get educational loan and apply using that. It acts as two things, 1- Financial sufficiency + 2- As a strong home tie because the loan has been issued against something. Instead of depleting all savings, its better to go with the loan + show savings as back up source of financial support which will then act as a stream of money for future years.
@jigzyy gic and full tuition fee will be suffice if the course duration is 1 year ?
2. Also, showing Savings account with regular deposits under student name with around 7k cad as additional fund.

Share your input on this.
 

Ironclad

Champion Member
Aug 17, 2020
1,255
495
Canada
@Kadimi

Taking loans may weaken your application, it will only benefit if you counteract it by showing savings on your name (4 to 6 month bank statement), not on anyone else's to make it count as a tie. Bank statements represented by immediate family only counts when there is no loan sanctioned.
 
Last edited:

Atchu

Star Member
Jan 27, 2020
129
8
@Kadimi

Taking loans may weaken your application, it will only benefit if you counteract it by showing savings on your name (4 to 6 month bank statement), not on anyone else's to make it count as a tie. Bank statements represented by immediate family only counts when there is no loan sanctioned.
The bank statement with funds mentioned in local currency is fine or I need to submit it in terms of CAD equivalency ?
 

Ironclad

Champion Member
Aug 17, 2020
1,255
495
Canada
The bank statement with funds mentioned in local currency is fine or I need to submit it in terms of CAD equivalency ?
Obviously local currency related to the nationality, the type of currency doesn't matter anyway. Doing something unusual may raise eyebrows of the VO hence it's suggested to go with the local currency.
 
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