Post ITA :: Fixed Deposit as PoF

[CanadaItIs]

Hello All,

I will be submitting copies of Fixed Deposit (from India) as Proof of Finance. Is there minimum time required before which the FDs should have been created?
My Fixed Deposits were created around 2 months back.. Will it be allowed as Proof of Funds?

Thanks,

 

[sushsmart15]

I think it should be fine.
As long as the funds are available to withdraw and accessible to you at any point of time, it should be fine.

 

[Yoda24]

Hello All,

I will be submitting copies of Fixed Deposit (from India) as Proof of Finance. Is there minimum time required before which the FDs should have been created?
My Fixed Deposits were created around 2 months back.. Will it be allowed as Proof of Funds?

Thanks,

I read it some where on CIC website, do not recollect, the funds should be with you since last 6 months. Even if your FD was created 2 months back, if you can provide an explanation and back it up with proof (bank statement) that you had funds since last 6 months and recently it got converted into FD, I recon you should be good.

 

[CanadaItIs]

Thank you friends for the information.

Do you think it might help if I liquidate the Fixed Deposits and show cash balance in my Savings Account. Is there any time requirement for Cash Balance in Savings Account. For example, the sufficient balance should have been maintained for atleast x months or something on similar lines?

Thanks in advance!!

 

[chiron]

This thread might be helpful;
http://www.canadavisa.com/canada-immigration-discussion-board/a-complete-way-to-nail-source-of-fund-dilemma-t349224.0.html

 

[Asivad Anac]

Thank you friends for the information.

Do you think it might help if I liquidate the Fixed Deposits and show cash balance in my Savings Account. Is there any time requirement for Cash Balance in Savings Account. For example, the sufficient balance should have been maintained for atleast x months or something on similar lines?

Thanks in advance!!

No such requirement. The only requirements are that the funds must be exclusively available to you and they must not be borrowed.

One way of ensuring this is by having the funds in an account in your name for at least 6 months. If they are less than 6 months old, you'll need to show source of funds.