Proof of Funds

[aishuprawin]

Hi,

Under the proof of fund section: what all should we show? do we also declare the loans if we have? please guide..

 

[mr.preetsingh]

Hi,

Under the proof of fund section: what all should we show? do we also declare the loans if we have? please guide..

If its from another bank account, you can hide.

 

[aishuprawin]

If its from another bank account, you can hide.

Ok. But what exactly do we show in Proof of Funds?

 

[mr.preetsingh]

Ok. But what exactly do we show in Proof of Funds?

Savings Bank Account, FDs, Mutual Funds, PF (last resort)

 

[fmk8890]

If its from another bank account, you can hide.

Congrats on your PPR - just saw your signature!!

 

[mr.preetsingh]

Congrats on your PPR - just saw your signature!!

Thanks...

 

[aishuprawin]

Savings Bank Account, FDs, Mutual Funds, PF (last resort)

Ok, so, do we just get the statement of the last 6 months and FD receipts from Bank? And how do I show the mutual funds?

Could you please let me know if there is any format in which I can show the proof of funds??

 

[mr.preetsingh]

Ok, so, do we just get the statement of the last 6 months and FD receipts from Bank? And how do I show the mutual funds?

Could you please let me know if there is any format in which I can show the proof of funds??

Its clearly mentioned on CIC website

Proof of funds
Purpose
To confirm whether the applicant meets the low-income cut-off (LICO), assessed by the amount of money they hold compared to the number of people in their family

Document requirements

• The applicant should provide an official letter(s) from one or more financial institutions that lists all current bank and investment accounts as well as outstanding debts, such as credit card debts and loans.
  • o The letter(s) must be printed on the letterhead of the financial institution and must include the applicant’s name, the contact information of the financial institution (address, telephone number and email address), the account numbers, the date each account was opened and the current balance of each account as well as the average balance for the past six months.
• Other documents may also be requested, as necessary.

 

[aishuprawin]

Its clearly mentioned on CIC website

Proof of funds
Purpose
To confirm whether the applicant meets the low-income cut-off (LICO), assessed by the amount of money they hold compared to the number of people in their family

Document requirements

• The applicant should provide an official letter(s) from one or more financial institutions that lists all current bank and investment accounts as well as outstanding debts, such as credit card debts and loans.
  • o The letter(s) must be printed on the letterhead of the financial institution and must include the applicant’s name, the contact information of the financial institution (address, telephone number and email address), the account numbers, the date each account was opened and the current balance of each account as well as the average balance for the past six months.
• Other documents may also be requested, as necessary.

Yes, I know that.. But, I am asking abt the mutual funds, etc..

 

[mr.preetsingh]

Yes, I know that.. But, I am asking abt the mutual funds, etc..

Mutual funds are usually tagged with Banks, so that Bank can provide you a certificate about the funds which you can withdraw any given day. That certificate will be enough. Should be on bank letter head, signed and stamped.

 

[aishuprawin]

Mutual funds are usually tagged with Banks, so that Bank can provide you a certificate about the funds which you can withdraw any given day. That certificate will be enough. Should be on bank letter head, signed and stamped.

Great, Thank you...

 

[aishuprawin]

Also, could you let me know what will happen after we accept the ITA?

 

[navinball]

Also, could you let me know what will happen after we accept the ITA?

Your system will overheat and begin to melt, then you will become one of us - a status update zombie.

 

[aishuprawin]

Your system will overheat and begin to melt, then you will become one of us - a status update zombie.

Sorry, I quite dint understand.

 

[_Harry_]

Sorry, I quite dint understand.

He means after ITA you will be buried into the prep of documents and combing the threads of this forum finding soln to your problems. For next 60 days post ITA, you will be doing nothing else but documents prep.