Bank FD after getting ITA

[ashwani.m]

Hi.. I got my ITA in January17. I am in process of collecting documents and funds for POF.

I have received required amount in my account, transferred by father, for POF letter. Total we are maintaining CAD$18000 in account. Can we use, say CAD$8000 in booking FD (Fixed Deposit) for 1 year and leave remaining amount in savings account ? We don't want all 18K in Savings account as savings account interest rate is quite low as compared to FD..

Which means letter from bank will have 10k in our saving account and 8k in form of FD.. Is it like Booking FD after ITA is a problem? Why does it matter when FD is also a form of liquid cash which can be liquidated and turned into cash anytime and which is not locked for fixed duration.

 

[sushsmart15]

FD is very much accepted by IRCC. Quite a lot candidates on this forum have demonstrated POF using FD confirmation certificate/receipt.
You can go ahead with the same. Make sure the start date and maturity date is seen clearly on the FD receipt. Get it stamped and signed from the bank along with 6 months bank statements and bank certificate.

 

[ashwani.m]

Thanks for the quick response. Appreciate it. I totally understand that FD are acceptable. My only concern was creating FD after ITA.. If there is any problem..

 

[sushsmart15]

No problem. However, it would be better if you book it after you obtain your 6 months bank statements and bank certificate - POF documents. I believe it is just a matter of days before you would book your FD.