Proof of Funds Bank Statement

[vivekvinod74]

I'll be joining the University of British Columbia for a graduate program this fall. My tuition fees are 8600 CAD per year minus a 3200 CAD scholarship, so 5400 CAD a year.

My issue is that at present I have around 22000 CAD in my account from the last month (and not 4 months as prescribed). Even my dad doesn't have a similar amount to show in his bank statement (although he has proofs like Income Tax returns for an amount greater than 22000 CAD etc).

Are there chances of rejection if I go with this one month statement or should I open a 20000 CAD GIC with Scotia Bank?

 

[krs]

Generally it is a red flag if there is this much amount suddenly in your account in 1 month. However, it depends on the person reviewing your file. At best delay as much as you can so you have this amount for more that 1 month.
You can attach a letter explaining your source of the funds. Keep you file as simple as possible so there are no flags.
A GIC will not help as GIC is supposed to be a locked investment and you yet need to show to officers how you can pay your fees while applying for visa.
Good Luck!!

 

[vivekvinod74]

Thanks! I was wondering on whether opening a 10000$ GIC is a good idea since I have about 11000 CAD in my account for about 1.5 months ( which is greater than the fee to be paid, although the fee is supposed to be paid in three installments after I reach BC)