My son has an account in Axis Bank maintained for more than 5 years. However the balance maintained in this SB account for the past 2-3 years is minimum. As he intends to immigrate to Canada on PR and wants to apply for Express Entry. As a father I have fixed deposits of ₹10 lakh kept in two banks. I want to transfer the amount of these FDs to his SB account with Axis Bank. What documents do I need to give to my son so that there will not be any problem for him to get PR of Canada? Should I need to give these documents before transferring the amount of ₹10 lakh to his SB account or just before he faces Visa interview?
Alternatively instead of breaking FDs and loosing heavily the amount of interest on the same will it be okay if I simply give an affidavit stating that my son has a free access to my FDs or is it better to transfer the proceeds after breaking FDs to my son's SB account with a gift deed?
Alternatively instead of breaking FDs and loosing heavily the amount of interest on the same will it be okay if I simply give an affidavit stating that my son has a free access to my FDs or is it better to transfer the proceeds after breaking FDs to my son's SB account with a gift deed?