Bank Account vs Fixed Deposit for Visitors Visa

[sreyanats]

Hi Everyone, I am a PhD student + permanent resident in Canada and I am applying for visitor visa for my parents from India.

My parents have more than sufficient funds in fixed deposits of 20-30K CAD each.

However their current bank accounts have a much lower balance of less than 1K each?
Are fixed deposits (that can be closed at any time) allowed as proof of funds or they need to transfer the balance to a current account before applying?

 

[CanGoldDigger]

FDs are okay if they are not very recent. Bank accounts are better though, they are more liquid.

I would also consider super visa. They won't need it at all.

 

[sreyanats]

FDs are okay if they are not very recent. Bank accounts are better though, they are more liquid.

I would also consider super visa. They won't need it at all.

Thanks for your response. I am not eligible for a super visa, as my income is lower than the threshold as a PhD student.

 

[canuck78]

Hi Everyone, I am a PhD student + permanent resident in Canada and I am applying for visitor visa for my parents from India.

My parents have more than sufficient funds in fixed deposits of 20-30K CAD each.

However their current bank accounts have a much lower balance of less than 1K each?
Are fixed deposits (that can be closed at any time) allowed as proof of funds or they need to transfer the balance to a current account before applying?

The whole point is being able to show you have the savings to cover the cost of your travel and any emergencies that may occur in Canada also any travel medical insurance to hopefully cover any large unexpected medical emergencies. You can try but 2k in accessible cash isn’t even probably enough for a return flight for their visit to Canada on many airlines.

 

[bestofluck]

Hi Everyone, I am a PhD student + permanent resident in Canada and I am applying for visitor visa for my parents from India.

My parents have more than sufficient funds in fixed deposits of 20-30K CAD each.

However their current bank accounts have a much lower balance of less than 1K each?
Are fixed deposits (that can be closed at any time) allowed as proof of funds or they need to transfer the balance to a current account before applying?

Bank Fixed deposits are cashable funds and as good as cash in bank. you just need to show FD receipt more then 3 months.old. so please dont break FD and put in bank. Both are same

 

[sreyanats]

Bank Fixed deposits are cashable funds and as good as cash in bank. you just need to show FD receipt more then 3 months.old. so please dont break FD and put in bank. Both are same

Thanks! Thats great

 

[sreyanats]

The whole point is being able to show you have the savings to cover the cost of your travel and any emergencies that may occur in Canada also any travel medical insurance to hopefully cover any large unexpected medical emergencies. You can try but 2k in accessible cash isn’t even probably enough for a return flight for their visit to Canada on many airlines.

The funds are present, the FD can be transferred online within hours, to the current account (it is just a savings/investment account) with interest.

 

[Naturgrl]

Thanks! Thats great

Show strong ties to return too - job letters with approved leave, business, income property, children under 22 etc. Include their travel history if they have been to the US, UK, NZ or AUS.

 

[canuck78]

The funds are present, the FD can be transferred online within hours, to the current account (it is just a savings/investment account) with interest.

Most are very reluctant to cash FDs which is why they are not considered as cash.