The applicant should provide official letter(s) from financial institution(s) that list all current bank and investment accounts as well as outstanding debts such as credit card debts and loans.
I have a personal loan with the bank that I will be getting reference letter from and a home loan with another non-bank firm. Would this affect my profile when I apply after receiving ITA? In fact, does a loan at non-bank firm qualify as a debt as per the above statement?
The applicant should provide official letter(s) from financial institution(s) that list all current bank and investment accounts as well as outstanding debts such as credit card debts and loans.
I have a personal loan with the bank that I will be getting reference letter from and a home loan with another non-bank firm. Would this affect my profile when I apply after receiving ITA? In fact, does a loan at non-bank firm qualify as a debt as per the above statement?
If you have sufficient funds as per CIC for your family structure, it wont affect your application in any way. Also, a debt is a debt, whether you have it with a bank on a non-bank firm.
You aren't required to disclose all debts/loans to CIC. The only debt/loan that merits CIC's attention is also the debt/loan that will also get you refused automatically - a debt/loan expressly taken for the purposes of POF. If you haven't done that, there is no need to disclose any other consumer loans that you might have taken at that bank or any other bank/non-bank institution. All CIC cares about is whether you have exclusive access to the required funds and that those funds aren't borrowed - they have no further interest in your personal finances.
You aren't required to disclose all debts/loans to CIC. The only debt/loan that merits CIC's attention is also the debt/loan that will also get you refused automatically - a debt/loan expressly taken for the purposes of POF. If you haven't done that, there is no need to disclose any other consumer loans that you might have taken at that bank or any other bank/non-bank institution. All CIC cares about is whether you have exclusive access to the required funds and that those funds aren't borrowed - they have no further interest in your personal finances.
I had shown my home mortgage to the CIC along with the FDs that are there to cover for my Canada requirements and letter from bank mentioning the current amount I can have to account for my mortgage. Could that pose problems with CIC when making a decision?
I had shown my home mortgage to the CIC along with the FDs that are there to cover for my Canada requirements and letter from bank mentioning the current amount I can have to account for my mortgage. Could that pose problems with CIC when making a decision?
I recently got PT from Ontario, and for POF i sold one of my two cars (in Nigeria we all own our cars 100%, no leases) and then put the funds in a FD for six months immediately. Hence i submitted copies of the sale receipt, bank statements for 6 months (showing the latest lump transaction from car sale) as well as the FD certificate.
Will this suffice as POF for OINP?
If i do get nominated, do i just submit same to CIC?
I recently got PT from Ontario, and for POF i sold one of my two cars (in Nigeria we all own our cars 100%, no leases) and then put the funds in a FD for six months immediately. Hence i submitted copies of the sale receipt, bank statements for 6 months (showing the latest lump transaction from car sale) as well as the FD certificate.
Will this suffice as POF for OINP?
If i do get nominated, do i just submit same to CIC?
I've always got a mixed response to this. There are people who were successfully nominated by provinces for showing PF as PoF. Well, in my case, I am producing the notarized PF statement, an acknowledgement by my ex-employer on the PF withdrawal status and a letter of explanation about it.
Provident Fund is not accepted.
