It's better to put additional funds in the GIC?

[Mnt]

Hello all,

I'm going to apply through SDS along with my partner for a work permit. My course is 16 months and in Québec, so my POF is going to be around CAD 21,468 as said by IRCC
My intention was going to put 10k on GIC as required, and the rest of the funds would be shown on my bank drafts, but my total funds are going to be very close to the limit of 21,468. We are also going to use my father-in-law's bank drafts to help but we already got our visas refused once due to lack of POF (we applied only with my partner and father-in-law accounts), so we don't want to take any risks.
Now, I'm thinking that putting more money than the 10k required for the GIC would be seen better by the VO, as I'm applying from Brazil and having more money already on Canada would strengthen our profile.
So basically instead of just 10k on GIC + partner costs on BR account, we would put like 15k on GIC (or more?) and the rest on BR account.

What do you guys think, does that makes sense? My POF would be better that way or doesn't really matter?

 

[Simba112]

Hello all,

I'm going to apply through SDS along with my partner for a work permit. My course is 16 months and in Québec, so my POF is going to be around CAD 21,468 as said by IRCC
My intention was going to put 10k on GIC as required, and the rest of the funds would be shown on my bank drafts, but my total funds are going to be very close to the limit of 21,468. We are also going to use my father-in-law's bank drafts to help but we already got our visas refused once due to lack of POF (we applied only with my partner and father-in-law accounts), so we don't want to take any risks.
Now, I'm thinking that putting more money than the 10k required for the GIC would be seen better by the VO, as I'm applying from Brazil and having more money already on Canada would strengthen our profile.
So basically instead of just 10k on GIC + partner costs on BR account, we would put like 15k on GIC (or more?) and the rest on BR account.

What do you guys think, does that makes sense? My POF would be better that way or doesn't really matter?

That wont be enough as POF. I don't know how much is your tuition fee, but if you add housing cost, additional fund for your partner you are not close to that

 

[Mnt]

That wont be enough as POF. I don't know how much is your tuition fee, but if you add housing cost, additional fund for your partner you are not close to that

My tuition is already paid in full, this is just for our living costs. It should be enough, although we are close to the limit.

 

[Simba112]

My tuition is already paid in full, this is just for our living costs. It should be enough, although we are close to the limit.

You should be fine then, with $10k on GIC account, that makes total of 31,468 ( $21,468 + $10,000 GIC) tuition fee fully paid

 

[Mnt]

You should be fine then, with $10k on GIC account, that makes total of 31,468 ( $21,468 + $10,000 GIC) tuition fee fully paid

No that's not the case.
I have tuition paid in full but the overall that I have to show is $21,468, so my POF would be $10,000 GIC + $11,468 on bank account/drafts + father-in-law account just as extra.
My question is, if putting more money on GIC would show that I'm more committed in going to study in Canada, so my POF would be like $15,000 GIC + 16,468 on bank, totaling the $21,468.
Does that change anything?

 

[Simba112]

No that's not the case.
I have tuition paid in full but the overall that I have to show is $21,468, so my POF would be $10,000 GIC + $11,468 on bank account/drafts + father-in-law account just as extra.
My question is, if putting more money on GIC would show that I'm more committed in going to study in Canada, so my POF would be like $15,000 GIC + 16,468 on bank, totaling the $21,468.
Does that change anything?

I had the impression i was wrong on my assumption they way you put your comment and good that you clarified. I dont think toping up GIC will have different outcome but there’s no harm doing so
Now with $11,468 less $4,000 your partner’s cost of living as accompanying member
=$7,168
Then Less housing cost+utilities. It will give you indication if you meet POF requirement

 

[Mnt]

I had the impression i was wrong on my assumption they way you put your comment and good that you clarified. I dont think toping up GIC will have different outcome but there’s no harm doing so
Now with $11,468 less $4,000 your partner’s cost of living as accompanying member
=$7,168
Then Less housing cost+utilities. It will give you indication if you meet POF requirement

Sorry i don't understand why you are considering less $4.000 for partner costs. I think that any amount of money that I put on GIC will count as POF, I'm only changing the source of the money: Instead of being in a bank in Brazil, it'd be already in Canada, so it'd look stronger in VO eyes. Don't you think that makes sense?

 

[Simba112]

Sorry i don't understand why you are considering less $4.000 for partner costs. I think that any amount of money that I put on GIC will count as POF, I'm only changing the source of the money: Instead of being in a bank in Brazil, it'd be already in Canada, so it'd look stronger in VO eyes. Don't you think that makes sense?

The idea to have $10,000 into GIC account that will be transferred to your Canadian account once you arrive is to show you meet minimum living expenses/cost of living as an applicant. However in your case, you have accompanying partner and you are under impression it covers for both. Lets say, someone with spouse and 3 children, will $10,000 into GIC be enough to meet POF requirement?

Please read below link and may be it will shed some light

https://www.canada.ca/en/immigratio.../study-canada/study-permit/get-documents.html

 

[Mnt]

The idea to have $10,000 into GIC account that will be transferred to your Canadian account once you arrive is to show you meet minimum living expenses/cost of living as an applicant. However in your case, you have accompanying partner and you are under impression it covers for both. Lets say, someone with spouse and 3 children, will $10,000 into GIC be enough to meet POF requirement?

Please read below link and may be it will shed some light

https://www.canada.ca/en/immigratio.../study-canada/study-permit/get-documents.html

Yes that's exactly my point, $10,000 won't be enough. I'm applying to Quebec for a total of 16 months so it's going to be $21,468. ($11.000 + 4x $917 + $5.100 + 4x $425).
I have $21,468 in the bank and I'm getting a GIC to qualify for SDS. So POF will be $10,000 GIC + $11,468 bank.
My question is simply having more money in the GIC instead of my bank account in Brazil will make a difference in VO eyes or it'll just confuse him?