Fund, General catagrory / NON SDS account

[FSumayah]

Hi everyone.
I have applied for a 2 year POST graduate Dip PROGRAM. in my country we don't have SDS option. So i have to apply through General / NON SDS catagrory.


I have paid my first semester fees, palnning to pay my second sem fees as well. ( 1 year fees 14000 CAD)

Still I am struggling with this fund, And I have made an FD worth around 33000 CAD mine is 20000 CAD + My brother gave 13000 CAD) . but my Brother took a Third party cash back loan around 12500 CAD from that FD. ( He made that FD as a security to his loan, if he didn't pay the bank will deduct from that FD).

I am worried, many ppl are saying that high commission will call the bank and cross check my account. So I am scared and upset. Trying to get this visa from 2019. Still struggling with this fund. Please share you opinions about the bank cross check.

And How much money I need to Show in my account to get the visa. I am going for co op program. Here in my country ppl are showing 50000 CAD. But i cant afford that much

Please reply

 

[Geet7]

@FSumayah you should show at least the amount required by IRCC (the equivalent to the fees of your first year of studies + CAD 10.000) but if you have more, better. It's not necessary to show up to CAD 50.000 so don't worry about that. In terms of the bank cross checking the origin of your funds, I have no idea if they do that but I'm sure if they are suspicious, they will either ask you for additional supporting documents or straight reject your application. Make sure you sent all the supporting documents required to make sure there is nothing suspicious about your funds (it's acceptable that they come from a loan) and make any clarification necessary in your letter of intent. If you already applied but feel you need to clarify something, send it through a webform.

Good luck!

 

[FSumayah]

Hi
I will pay my first year fees, so do I need to show 2nd year fees + 10000 CAD?

In my FD, My saving is 20000 CAD, rest is got it from family business ( scanned the recieved cheque as a proof) but I am worried about the 3rd party cash back loan which taken by my brother, he took that for his business purpose

 

[yesWeCanada]

Hi
I will pay my first year fees, so do I need to show 2nd year fees + 10000 CAD?

In my FD, My saving is 20000 CAD, rest is got it from family business ( scanned the recieved cheque as a proof) but I am worried about the 3rd party cash back loan which taken by my brother, he took that for his business purpose

Yes, you need to show proof that you have funds for second year as well. Also, show some extra funds(5k more, if possible) just to be safe.

 

[Geet7]

Yes, you need to show proof that you have funds for second year as well. Also, show some extra funds(5k more, if possible) just to be safe.

Actually, I believe that is not correct. If you read the IMM5483E Form which is a document checklist, you will find under the "Proof of Financial Support" section the following text:

"If the duration of your studies in Canada will be more than one year, proof of financial support for the first year of your studies in Canada".

 

[yesWeCanada]

Actually, I believe that is not correct. If you read the IMM5483E Form which is a document checklist, you will find under the "Proof of Financial Support" section the following text:

"If the duration of your studies in Canada will be more than one year, proof of financial support for the first year of your studies in Canada".

Agreed, but why you want to risk the application? Why not be safe and have that as well. We dont have to spend it but its better to have it. I think its needed. But agreed its not mandatory.

 

[Geet7]

Agreed, but why you want to risk the application? Why not be safe and have that as well. We dont have to spend it but its better to have it. I think its needed. But agreed its not mandatory.

I mean, the more funds, the better... that's for sure! But if someone is waiting to come up with the funds for the 2 years of tuition + living expenses to apply, I'm not sure that's a good approach. I would much ratter to apply with only one year of tuition + living expenses + a couple of thousand CAD more than keep waiting and lose time, specially now with IRCC having so much delay with their processing times.

 

[Rafaelhag43]

Agreed, but why you want to risk the application? Why not be safe and have that as well. We dont have to spend it but its better to have it. I think its needed. But agreed its not mandatory.

Yes, having funds for 2 years is a good thing. However, that might be unrealistic for a lot of students. 1 year of tuition + 10k is the minimum. I believe OP has more than the requirement. OP should be fine.

 

[yesWeCanada]

I mean, the more funds, the better... that's for sure! But if someone is waiting to come up with the funds for the 2 years of tuition + living expenses to apply, I'm not sure that's a good approach. I would much ratter to apply with only one year of tuition + living expenses + a couple of thousand CAD more than keep waiting and lose time, specially now with IRCC having so much delay with their processing times.

Yes, having funds for 2 years is a good thing. However, that might be unrealistic for a lot of students. 1 year of tuition + 10k is the minimum. I believe OP has more than the requirement. OP should be fine.

I disagree that its not a good approach. Its good approach but if person cannot afford to do it then totally agreed that its not needed. Point is to make sure as much as possible to make app strong. Time is ultimate currency, so we need to buy time and not waste it in reapplication, we dont have to spend it, we just have to show it. Return on investment in Canada will be much better in my opinion. The sooner you reach there the better it is.