Proof of funds for International students
- Thread starter Surag
- Start date
Hello guys,
For student permit funds I have around CAD 36000 now
Option 1: Although the money is mine but CAD 15000 is not 4 month old so can i pay tuition fee from account that belong to my brother, and later in visa application can i show only my account statement as my account has funds that are 4 month old. GIC from my account.
Option 2: GIC from his account and later tuition fee from my account.
Also iam doing job so it is natural that i will resign from it as soon as i get student permit. So can i include my Provident fund (CAD 7000) in application, and what about my fixed life insurance (minimum CAD 9000 is available anytime i wish to liquidate/ surrender my policy).
Your valuable inputs and experiences will help me avoid mistake in visa application.
For student permit funds I have around CAD 36000 now
Option 1: Although the money is mine but CAD 15000 is not 4 month old so can i pay tuition fee from account that belong to my brother, and later in visa application can i show only my account statement as my account has funds that are 4 month old. GIC from my account.
Option 2: GIC from his account and later tuition fee from my account.
Also iam doing job so it is natural that i will resign from it as soon as i get student permit. So can i include my Provident fund (CAD 7000) in application, and what about my fixed life insurance (minimum CAD 9000 is available anytime i wish to liquidate/ surrender my policy).
Your valuable inputs and experiences will help me avoid mistake in visa application.
If you transfer money from your parents account to your account, you need to get written statement from them they are providing you with this money for your education with proof that they already had it [for example fixed deposit or previous 6 month statement].
Even if it is parent's account, it should be fine provided, that, your parents sign a written statement that they would be sponsoring your education and would be funding your education and living costs while you are in Canada.
So i also have to provide father bank statement in order to proof.
There was a proof like money came from my father account to my account the account number is it ok along with a written letter or more proof requires
1. What you need is a signed declaration from your father that he is gifting you the money for your education and living expenses and you are not liable to pay him back. [This is optional, but recommended]
2. Your 6 months bank statement which has the necessary funds and shows the transfer.
3. Your father's bank statements where it becomes obvious he had the funds. 6-12 months statements should suffice.
can any one please help me in knowing about the currency in which we need to show the proof of funds for study permit, also do i need to share a consolidated sheet for money if i have PFs, and FD and bank statement? should that be approx value in CAD
You need to show the value in the currency in which your PF and FD's are. Bank manager may additionally write the value in CAD, by calculating it and mentioning the date on which it was calculated and provide the multiplying unit from CAD to INR, however, that is optional.
Folks at IRCC, calculate the value on their own, by the conversion unit provided to them by the people who makes decisions.
Also, you can provide a conversion of your POF in your LOE and provide the unit value and date.
My bank letter does not have any conversion. I simple wrote, XYZ INR to ABC CAD, converted via Google on so on so date in my LOE like many other applicants.
thank you for the information,i can include the different statements in case money money is in different banks?also for PF do i need to have it notarized or simply PF statement works?one more information how to get the property evaluation can you give me an idea?does affidavit of proprties to be notarized?
Yes, you will need to include different bank letters from bank managers, if you have multiple accounts with different banks. Not only statements, you need bank letters too!
For PF, you need to get a letter from Employees Provident Fund Organisation
Property evaluation cannot be treated as Proof of Fund.
How much proof of funds I need if I already paid half of the tuition fee 1 year (8k of 16k) ? Is 21k Cad enough?
Hello,
I’m about to apply and my question was The bank statements we need to show as proof..does the first year tuition fee + living expenses need to be in the account every month or THE SUM of the amount in those 4 months should be equal to the expenses and tuition?
I’m about to apply and my question was The bank statements we need to show as proof..does the first year tuition fee + living expenses need to be in the account every month or THE SUM of the amount in those 4 months should be equal to the expenses and tuition?
Do you have any idea what the Notarized letter from the parent should look like? Is it just a normal written message or should it be issued from a bank or something?