Fixed Deposit as Proof of Funds

[kingofpsg]

I have shown all the funds in the form of FD's. Now most of those FD's got matured and now I have again put that amount (amount got on maturing) in new FD's for another few months. Do I need to share the new FD details with them again?

Hi I'm in the same situation. I have a fixed deposit which will mature in April 2018. By that time my fixed deposit will already be 7 months old. I'm planning to re invest this money to another fixed deposit . So if I submit my application in May 2018, is it fine if I submit both my fixed deposit letters or how else must I proceed.

Kindly advise friends

 

[kingofpsg]

^^^ Any advise on the above query is much appreciated friends... Please...

 

[mravi06]

Fixed deposits are accepted by CIC. I shown just one FD for INR 10 lacs along with bank letter for that FD

Hi hitesh0414,

I am planning to show an FD as POF which was opened recently do I need to provide details of where that funds came from?

 

[sudeep1201]

Hi hitesh0414,

I am planning to show an FD as POF which was opened recently do I need to provide details of where that funds came from?

I did the same and no one asked for POF. Just ensure you show some liquid cash in your account and attach the FD bond paper too. If possible try to show around 20% more funds than your requirement.

 

[mravi06]

I did the same and no one asked for POF. Just ensure you show some liquid cash in your account and attach the FD bond paper too. If possible try to show around 20% more funds than your requirement.

Thanks for the reply how to show liquid cash in my account like a recent bank statement?

 

[sudeep1201]

Thanks for the reply how to show liquid cash in my account like a recent bank statement?

Yes! you should do the following:
1. Take copies of your last six months statements - get them stamped by the bank - scan and upload them
2. Also, take the balance certificate from bank on their letter head - scan and upload it

You should do both the steps to avoid any sort of future hassle. This is what I did, the more clarity you provide them in terms of your funds, the better it is for you.

 

[Akhil_cic]

Yes! you should do the following:
1. Take copies of your last six months statements - get them stamped by the bank - scan and upload them
2. Also, take the balance certificate from bank on their letter head - scan and upload it

You should do both the steps to avoid any sort of future hassle. This is what I did, the more clarity you provide them in terms of your funds, the better it is for you.

Yes! you should do the following:
1. Take copies of your last six months statements - get them stamped by the bank - scan and upload them
2. Also, take the balance certificate from bank on their letter head - scan and upload it

You should do both the steps to avoid any sort of future hassle. This is what I did, the more clarity you provide them in terms of your funds, the better it is for you.

 

[Akhil_cic]

Hello,

In my case my spouse is not accompanying but we have a joint account and the joint account is only 4 Month old. Will this be caccepacce to CIC as POF

 

[pk46]

No need to get six months statement stamped. Just download them and attach. I got my PR.

 

[Akhil_cic]

Hello, And what what about the account being joint account with non accompanying spouse. Will be helpful if you could give a clarity on that.

Will CIC accept it

 

[Akhil_cic]

@pk46 thanks for the quick reply. I have one question. How many days before submitting your pr application did you take bank certificates.?

 

[navyasri99]

Hi,do tax saving FDs also count as proof of funds? since they have a 5 year lock in period?

 

[RPS92]

Hello seniors,

Thanks for helping us out! I have a query, I was in the UK for over an year and made some savings over the last period of year. I invested this saving in Mutual Fund in my Father's name in the last six months. Now my bank a/c statement has a gap where the funds have decreased from around 15 Lakhs to 15 thousand and then subsequently increased to the same amount as my father returned me the sum.

1. Will a gift deed from my father stating that he gave me the sum work alongwith the bank statement and bank letter of past 8-10 months showing influx and outflux of funds both work?

2. I am submitting my paystubs for past 12 months and India and UK tax return both. Should I need to submit anything more?

I would deeply appreciate your help. Thank you!!

 

[Kirk317686]

Hi,

I am in a bit of a situation and any advice would be highly appreciated. I got my ITA and my deadline is Aug 22, 2018. I am showing FD of 700,000 inr which was created jan 25, 2018. The FD would be 6 months old July 25, 2018. The concern here is that my dad gave me the money which he took a personal loan of, which I don't have to pay him back. Since the FD would be more then 6 months old if I submit after July 25th. Do I need to get a gift deed from my father? I am concerned since it was from a personal loan and not from his savings the profile would be rejected.

What can I do here, and advise would be greatly helpful

Thank you.

 

[navinball]

Hi,

I am in a bit of a situation and any advice would be highly appreciated. I got my ITA and my deadline is Aug 22, 2018. I am showing FD of 700,000 inr which was created jan 25, 2018. The FD would be 6 months old July 25, 2018. The concern here is that my dad gave me the money which he took a personal loan of, which I don't have to pay him back. Since the FD would be more then 6 months old if I submit after July 25th. Do I need to get a gift deed from my father? I am concerned since it was from a personal loan and not from his savings the profile would be rejected.

What can I do here, and advise would be greatly helpful

Thank you.

not needed if its more than 6 months. but since its just borderline 6 months get the gift deed just in case. it does not matter if its from a personal loan or savings. they dont need proof of source of source.