i just wanted to know how much funds are required through Express entry PR and PNP and also how much month they are requiring for bank statement. i am bit confusing about it. My agent told me that you need to keep the sufficent balance atleast 6 month. is it true or not. Please help me out in this.
Inquire about proof of funds for PR and PNP Entry
- Thread starter Jalimsingh
- Start date
JamesRodriguez
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- Mar 8, 2019
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- January 2020
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- January 2020
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- February 2020
Well, it depends on what PNP stream you applied under. In Ontario, the Human Capital Priorities stream is one of only two Express Entry PNP streams. They draw you from the EE pool (you don't apply directly).
Getting a PNP from any of the other streams usually means you're no longer applying through Express Entry, which means you're not applying through the EE. In that case, your proof of funds is typically your job offer (OINP nominees do not need an LMIA job offer to qualify, a regular one is fine).
Regarding your bank balance , it is suggested to have it for 6 months ,but if have injected a big amount 2 or 3 months before ita ,then you can explain it in an explanation letter.
IRCC asks for average balance,which means they want to check that you have that money maintained through out or money keeps on adding to meet the requirement rather than being deducted from your amount for your paying your debts.
They have nowhere mentioned that one must have that money for 6 months.
Conclusion- even if you didnt have enough balance that time and injected money in your account in last 2-3 months , you must explain that in LOE and if possible attach proof of that credit too.
Getting a PNP from any of the other streams usually means you're no longer applying through Express Entry, which means you're not applying through the EE. In that case, your proof of funds is typically your job offer (OINP nominees do not need an LMIA job offer to qualify, a regular one is fine).
Regarding your bank balance , it is suggested to have it for 6 months ,but if have injected a big amount 2 or 3 months before ita ,then you can explain it in an explanation letter.
IRCC asks for average balance,which means they want to check that you have that money maintained through out or money keeps on adding to meet the requirement rather than being deducted from your amount for your paying your debts.
They have nowhere mentioned that one must have that money for 6 months.
Conclusion- even if you didnt have enough balance that time and injected money in your account in last 2-3 months , you must explain that in LOE and if possible attach proof of that credit too.
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