Term deposit as Proof Of Fund ??? London Visa office

[canada_future]

Hi,

When i applied initially to CIO i sent a bank certificate stating that i have XXX amount in my bank account and i have been a customer of that bank since XXX.
Right now my ECAS status is received by visa office since 5th April 2011 and i am a post 26/6 applicant. My visa office is London and i am Pakistani resident. I wanted to invest my money in a term deposit for a year (as i think my case finalization will take around a year). If i invest in it then bank will issue me a certificate which will contain my name,investment date and expiry date etc. I am curious if it will be considered as a valid proof of fund? and if yes then is there any possibility that VO will still ask me for,say, 6 months bank statement? Because if VO still does then i won't be having any and i will end up in a worst situation.

Thanks for your input.

 

[Pippin]

If you do a search in the white box, top right corner, "term deposit" you will find many references in previous posts. It appears that they are acceptable. I do not know if London VO has a specific ruling on them. Is there any indication in your VO specific documents?

 

[canada_future]

If you do a search in the white box, top right corner, "term deposit" you will find many references in previous posts. It appears that they are acceptable. I do not know if London VO has a specific ruling on them. Is there any indication in your VO specific documents?

Hi Pippin,
Thanks for the reply.
Yeah i have searched it prior then posting thread. And yes London VO document mentions that
SETTLEMENT FUNDS
Refer to the "Proof of Funds" section of our website for exact figures and
instructions.
Provide proof of unencumbered and readily transferable funds in a convertible
currency available for settlement in Canada (for you and your family members):
• current bank certification letter; or
• evidence of savings balance; or
• fixed or time deposit statements

But my main concern is something else mainly for which i created this thread and that is whether VO will still ask me for the bank statement of say 6 months or so? or will the term deposit statement will suffice and would satisfy the VO?

 

[saki]

Hi,

When i applied initially to CIO i sent a bank certificate stating that i have XXX amount in my bank account and i have been a customer of that bank since XXX.
Right now my ECAS status is received by visa office since 5th April 2011 and i am a post 26/6 applicant. My visa office is London and i am Pakistani resident. I wanted to invest my money in a term deposit for a year (as i think my case finalization will take around a year). If i invest in it then bank will issue me a certificate which will contain my name,investment date and expiry date etc. I am curious if it will be considered as a valid proof of fund? and if yes then is there any possibility that VO will still ask me for,say, 6 months bank statement? Because if VO still does then i won't be having any and i will end up in a worst situation.

Thanks for your input.

Hi

You can invest that money into the term deposit its not going to create any problem just make sure that funds are transfered to term deposit on the same day when you withdraw from your account so it shows that funds are withdrawn and deposited into the term deposit. If visa officer ask you for the 6 months statement you can show them the term deposit certificate and your existing account statement.

Cheers
Saki

 

[canada_future]

Hi

You can invest that money into the term deposit its not going to create any problem just make sure that funds are transfered to term deposit on the same day when you withdraw from your account so it shows that funds are withdrawn and deposited into the term deposit. If visa officer ask you for the 6 months statement you can show them the term deposit certificate and your existing account statement.

Cheers
Saki

Thank you Saki for your reply