Proof of funds - POF amount

[bipin_91]

Hello everyone ,

I have two accounts in two different banks . Bank A has salary account . And Bank B is where I have taken an education loan and am repaying the same (4,75,000) is yet to be paid .

Could someone Please confirm on the below points

1. While submitting POF , I need to get the official statements from both the banks is their letter heads indicating all the details requested by CIC . ???

2. To prove POF , am gonna submit a gift deed from my parents (12960 CAD) since am a 1 person family . Since I have a loan to be repaid does it mean I need to show more than the required balance since I have a loan liability .

3. Is it okay if I show only my salary bank account with the necessary details .

Thanks

Please help !!!!

 

[Islander216]

1. Yes, all banks you have accounts with.

2. Yes, they use the net asset method, so your POF must be more than the amount you have minus your liability.

3. No, you need to show the details for all bank accounts you have in your name.

 

[bipin_91]

What is someone has a home loan of 20-30 lakhs .. in that case if we use net asset menhod then the amount he would be showing is huge !!!

I will be repaying the loan in monthly installments which will be taken from my salary and this will not affect POF amount . Can I mention the same in LOE .. wouldn't that be sufficient enough for the immigration officer

 

[Islander216]

The loan would decrease his balance not increase it because it's a liability.

It's hard to say how successful that would be, i'll defer to others on that.