Proof of Funds!!

[venki4560]

Hi ,

I want to know, how much amount I need to show for POF???

i know it is CAD$ 12000/-, but what if I have a home loan, Credit card and all stuff?

I planned to show the POF as House on my name and having Home loan on that and FD i will deposit some 3 weeks prior and will keep it for 3 -4 months. will it work?

 

[venki4560]

Bump!! Can someone help me with this..

 

[mr.Hope]

http://www.cic.gc.ca/english/immigrate/skilled/funds.asp

you can show the funds in the form of FD's. make sure you maintain the funds till the end !

good luck !

 

[mbprajapati]

FDs with 5 years locking period are considered as proof of funds?

 

[venki4560]

but what about the liabilities? will they verify the loans on my name?? or if I show the FD with 12000 CAD is it fine?

 

[mr.Hope]

but what about the liabilities? will they verify the loans on my name?? or if I show the FD with 12000 CAD is it fine?

FD is fine. prepare a letter from your bank, mentioning the equivalent in CAD.

 

[mbprajapati]

FDs with 5 years locking period are considered as proof of funds?

FD is fine. prepare a letter from your bank, mentioning the equivalent in CAD.

 

[venki4560]

FD is fine. prepare a letter from your bank, mentioning the equivalent in CAD.

Thanks for the info, i can convert to CAD equivalent and show. but r u sure, they will not check my loans and all that stuff?

 

[xsabhishek]

i m also in the same situation.
I have outstanding loan on my flat.

I have made a FD and rest as investment in stocks.
Also i m giving different bank account in proof of funds.
My loan is getting charged on my salary account. (so haven't used this account for FD)

I m not sure how they track the funds but i guess if you show them that you have sufficient funds at the time of applying and whenever they ask for it must be fine.

 

[mr.Hope]

i m also in the same situation.
I have outstanding loan on my flat.

I have made a FD and rest as investment in stocks.
Also i m giving different bank account in proof of funds.
My loan is getting charged on my salary account. (so haven't used this account for FD)

I m not sure how they track the funds but i guess if you show them that you have sufficient funds at the time of applying and whenever they ask for it must be fine.

IT won't matter, if you have a loan.
Make sure you have sufficient funds maintained throughout the process time.

 

[GMS]

Guys, pls follow discussion given on below link.. i gave example of my case and got very detailed reply from one gentlemen (Profile name - future_canadian)..

http://www.canadavisa.com/canada-immigration-discussion-board/fsw-2014-applicants-timeline-lets-network-here-t199004.21525.html

 

[xsabhishek]

IT won't matter, if you have a loan.
Make sure you have sufficient funds maintained throughout the process time.

I have one doubt tough..

should i write my outstanding loan amount in liabilities ??
or should i just put it as 0...confused.

if i am not including my house in assets its no point to consider its liabilities...
what u guys did in your case