Proof of Funds

[sushantkanchan]

Hello everyone,

The Proof of Funds needs to be at-least 6-months prior to the ITA?

And can it be a Fixed Deposit?

 

[sam3218]

From what I've understood by spending dozens of hours on this and other forums, it's not necessary that those funds need to be in your account in the preceding six months . Six months balances are required to assess if you had taken any loan to satisfy the POF requirement for example, a large credit in your account just one month before applying. In other words, they want to ensure that this money is yours.

I can't comment much about FD though as I haven't done much research on it.

 

[rakeshmohan07]

Hello everyone,

The Proof of Funds needs to be at-least 6-months prior to the ITA?

And can it be a Fixed Deposit?

Hello,

FD surely works. And having a 6 months statement is the best possible document to ascertain that your financial situation is good and meet the IRCC requirements.

BR,

Rakesh

 

[sushantkanchan]

Hello,

FD surely works. And having a 6 months statement is the best possible document to ascertain that your financial situation is good and meet the IRCC requirements.

BR,

Rakesh

Thank-you.

 

[sushantkanchan]

From what I've understood by spending dozens of hours on this and other forums, it's not necessary that those funds need to be in your account in the preceding six months . Six months balances are required to assess if you had taken any loan to satisfy the POF requirement for example, a large credit in your account just one month before applying. In other words, they want to ensure that this money is yours.

I can't comment much about FD though as I haven't done much research on it.

Thank-you.