Duration of maintaining funds in account - Study permit for MBA

[talal.azam]

Hi,
I am an international student joining Queens University in their MBA program next year.

My profile:
6 years of experience in the top oil and gas companies in PAK.
IELTS score of 8.5
Undergraduate in Chemical Engineering from NUST (CGPA 3.1/4.0)

My father is sponsoring my educational expenses and I have also received a partial scholarship from the university. I have some questions related to the financial statement:

Can someone please tell how long did they maintain the required amount in the statement before submitting the study application?
Secondly, how long after taking out the bank statement did they submit it with the visa application?
Thirdly, How much more amount than the required amount is a safe estimate to show in the statement? Is 10,000 CAD more than enough?
Lastly, is it wise to attach a notarized affidavit from father showcasing that the stated amount is maintained for their child's education etc?

Looking forward to someone who's been through the process. Especially from India or Pakistan.

 

[tkhan270]

Hi Talal,

I have recently applied for my visa from Pakistan so here is what most people have said on these forums as well as the CIC website:

Funds: Yours first year tution due + 10,000 CAD
What I would add here is that suppose your fee is 30,000 Dollars for the first year, it means you need to show 40,000 CAD at the minimum, but its good to show that not all of your funds are exhausted. In this example funds around 45000-50000 would be great.
Funds should me mature and consistent (average balance of last 6 months is a good indicator)
if there is a rise then the source should be explained (sale of property etc)
Affidavit is required which acts as a sponsorship letter

Good luck

 

[talal.azam]

Hi @tkhan270
Thank you for writing back and sharing this information.

So my course in total 1 year in length, which means that I will likely have to showcase the entire tuition + $10-15K CAD above that as a safety. That's quite a lot of money lol

Secondly, My father's statement has had some hefty inward/outward transactions, and the amount that covers the whole fee+living for Queens was actually added in big 2-3 transactions just a couple of days back and shall be maintained from now. However, I do not wish to maintain it for like 2-3 months and then apply. That would be a waste of time I guess. I am thinking of maybe just waiting for 2 weeks at most and then submit it along with an affidavit. Any suggestions?