POF and Personal Loan

[pratikvaidya9]

Hello Everyone,

I have a few queries regarding POF. Could you please help?

1. Can we opt for a personal loan to use it as a POF?
2. I have heard that the amount should be in our account for atleast six months. Is it true?
3. Also, we cannot borrow it from anyone(what if the person lending is our family member? )

Do the above factors affect our invitation for PR?
Thanks in advance.

Regards,
Pratik

 

[DelPiero07]

1 - No.
2 - Not true.
3 - No.

 

[pratikvaidya9]

1 - No.
2 - Not true.
3 - No.

Okay!!! So the only way to show it is by saving the amount by ourselves? Why can't we show the amount gifted to us by our parents, as we would have the full authority to utilize the amount when needed.

Regards.

 

[DelPiero07]

You never mentioned money gifted, you only mentioned money borrowed. As long as you properly execute a gift deed you can show those funds in order to meet the minimum required.

 

[pratikvaidya9]

You never mentioned money gifted, you only mentioned money borrowed. As long as you properly execute a gift deed you can show those funds in order to meet the minimum required.

Now that's a good news. Thanks a lot DelPiero07, you have been of great help