Proof of funds, issue with 6 month average balance

[tarun1110]

Hi,

I currently have 4000 CAD in my savings bank account, including Fixed Deposits. I have 3000 CAD in equity that I would liquidate in 15-20 days. So, I have close to 7000 CAD in my name. Also, I have close to 8000 CAD in joint Fixed Deposits, that I share with my mother and I am the secondary holder. I can liquidate those FDs and get the amount in my own bank account and the total account balance will then be sufficient for me, as I am single. But, the issue is that by liquidating those joint FDs, I would not be able to show sufficient 6 month average balance. Will that be a problem?

If I show that I have received a gift amount from my parents, will I still need to show sufficient 6 month average balance? I am expecting an ITA in 2 months as I'll create my EE profile next month after getting the ECA report from WES. CRS 470.

Thanks and Regards.

 

[DelPiero07]

The 6 month average balance is simply a tool to determine as to whether there's been any suspicious lump sum amounts deposited into your bank account.

As long as you can prove where the money is coming from the 6 month average balance is irrelevant.

 

[tarun1110]

The 6 month average balance is simply a tool to determine as to whether there's been any suspicious lump sum amounts deposited into your bank account.

As long as you can prove where the money is coming from the 6 month average balance is irrelevant.

Thanks, I think my job is done then. I'll get a notarized gift deed and would create my profile next month.
I really appreciate your help and support, from the bottom of my heart. Thanks, for all the guidance.