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Proof Of Fund query

chennai22canada

Full Member
Apr 8, 2015
24
0
Hi,

I need some clarification regarding 'Proof Of Funds'.My dad is willing to give me $ 21,000 as a gift. I do not have any obligation to return the money back to him. I plan to put it into a Fixed Deposit under my name.

1.Will this be considered as ''borrowed'' money ? Will I have to produce any document stating that this is a gift and not a loan ?

2.Will a Fixed Deposit be considered as a proof of fund?

Thank you.
 

niravk

Hero Member
Jul 16, 2011
631
13
Job Offer........
Pre-Assessed..
This will be treated as borrowed money...and most likely CIC will disapprove this.

The amount is too high to raise a flag.
 

chennai22canada

Full Member
Apr 8, 2015
24
0
Thanks for your reply niravak. Would it be accepted if I choose to keep the cash in my account for six months and then create a EE profile ? Would it still be considered as cheating the system.
 

Jkal

Hero Member
Jul 26, 2014
553
28
Category........
Visa Office......
NDVO
NOC Code......
2174
Job Offer........
Pre-Assessed..
App. Filed.......
EE
IELTS Request
R9 L8 S7 W6.5
Passport Req..
20-04-2016
1.Will this be considered as ''borrowed'' money ? Will I have to produce any document stating that this is a gift and not a loan ?

I have read many posts on it and conclude that it should be fine. Get a letter from ur dad that its a gift from him.

2.Will a Fixed Deposit be considered as a proof of fund?
This works for sure.
 

niravk

Hero Member
Jul 16, 2011
631
13
Job Offer........
Pre-Assessed..
Jkal said:
1.Will this be considered as ''borrowed'' money ? Will I have to produce any document stating that this is a gift and not a loan ?

I have read many posts on it and conclude that it should be fine. Get a letter from ur dad that its a gift from him.

2.Will a Fixed Deposit be considered as a proof of fund?
This works for sure.
Should this letter from either of the parents written on a stamp paper? Or even a normal A4 size document is fine enough.
 

Jkal

Hero Member
Jul 26, 2014
553
28
Category........
Visa Office......
NDVO
NOC Code......
2174
Job Offer........
Pre-Assessed..
App. Filed.......
EE
IELTS Request
R9 L8 S7 W6.5
Passport Req..
20-04-2016
niravk said:
Should this letter from either of the parents written on a stamp paper? Or even a normal A4 size document is fine enough.
I have mostly seen it quoted as "on normal A4 paper" only.
 

Jkal

Hero Member
Jul 26, 2014
553
28
Category........
Visa Office......
NDVO
NOC Code......
2174
Job Offer........
Pre-Assessed..
App. Filed.......
EE
IELTS Request
R9 L8 S7 W6.5
Passport Req..
20-04-2016
Only if your PPF is 15 years old. ;D
In general, PPF is not cash-able immediately and hence not considered for Pof
 

fbdtotnt

Full Member
Feb 3, 2015
20
2
Ottawa, Canada
Category........
PNP
Visa Office......
Ottawa
NOC Code......
2174
My bank account also has a monthly debit for the home loan installment, if I have to show the funds from this bank account for POF, will having a long term home loan reflect as a liability on my account? Does CIC take the housing loan into consideration?
 

Jkal

Hero Member
Jul 26, 2014
553
28
Category........
Visa Office......
NDVO
NOC Code......
2174
Job Offer........
Pre-Assessed..
App. Filed.......
EE
IELTS Request
R9 L8 S7 W6.5
Passport Req..
20-04-2016
fbdtotnt said:
My bank account also has a monthly debit for the home loan installment, if I have to show the funds from this bank account for POF, will having a long term home loan reflect as a liability on my account? Does CIC take the housing loan into consideration?
I have a similar situation and i believe at least half of folks here would be having some sort of loan/emi going on.
I am too not sure about it. Probably, we need to check with folks who have got ITA.
 

chakri8385

Full Member
Aug 8, 2014
44
0
Category........
Visa Office......
New Delhi
NOC Code......
2171
Job Offer........
Pre-Assessed..
App. Filed.......
16-Oct-2014
How about Post Office recurring deposit account? Can that be shown as POF?
It is more than 2 years old and is encashable at any time now.

If yes, what kind of documents would I have to prepare?
 

Neel0526

Hero Member
Jan 13, 2014
283
4
Kolkata
NOC Code......
2171
Nomination.....
07-11-2016
AOR Received.
03-12-2016
File Transfer...
20-01-2017
Passport Req..
05-05-2017
VISA ISSUED...
05-11-2017
LANDED..........
05-07-2017
Hi Expert,

Below POF will be accepted by CIC?

Jan- $2100
Feb- $5000
Mar-$8000
April - $11000
May - $ 14000
June - $ 16000

Thanks in advance.
 

Intocanada

Hero Member
Mar 18, 2014
830
50
Neel0526 said:
Hi Expert,

Below POF will be accepted by CIC?

Jan- $2100
Feb- $5000
Mar-$8000
April - $11000
May - $ 14000
June - $ 16000

Thanks in advance.
Are you filing the application under CEC? If that is the case, it isn't necessary to show minimum funds.

HTH
 

Neel0526

Hero Member
Jan 13, 2014
283
4
Kolkata
NOC Code......
2171
Nomination.....
07-11-2016
AOR Received.
03-12-2016
File Transfer...
20-01-2017
Passport Req..
05-05-2017
VISA ISSUED...
05-11-2017
LANDED..........
05-07-2017
I am filling under CEC, but now not in Canada. My employer contract ended, so I returned back to my home country.

Few of my friends taken money from me during my tenure in Canada and they have started depositing $s into my Canadian Account.