POF for an unmarried principal applicant with no dependents

[xibalban]

Hello forum,

What are the minimum funds required in Canadian Dollars (or equivalent) for an unmarried principal applicant with no dependents for FSW EE?
Also, can the funds be in the form of fixed deposit?

Thanks in advance.

 

[xpressentry]

$12,300. FDs can be used.

 

[xibalban]

Thanks a lot, that helped. I haven't even created my profile for EE yet. I'm planning to mortgage my property and create a FD with it. Should I do it now, or shall I wait?

 

[xpressentry]

Depends on you.

 

[xibalban]

To be explicit, my question was: how old must my FD be, while submitting my POF? Can it be a fresh one, like a week old?

 

[xpressentry]

If there is a sudden transfer of a large amount, you need to explain the source of the funds. If you are remortgaging your house, you can do it whenever you want and you can show proof of remortgage as the source of funds.

 

[Pipis Husband]

To be explicit, my question was: how old must my FD be, while submitting my POF? Can it be a fresh one, like a week old?

For federal EE, funds must be in place 6 months prior to application. For newer funds, evidence of origin of the funds in FD must be obtained and made available for review if requested.