I have the same issue. In case, we make a fixed deposit account (6 month) 2-3 days before sending the application will it be considered too young? and also at the same time the current account balance will decrease significantly due to sending the money into fixed deposit account. Will that be an issue as well?
Will not be a problem. The funds have been there long enough so no doubts on the sources and the FD's age won't cause concerns. And an FD is valid POF provided it has regular breakage clauses and no outlandish charges.
Will not be a problem. The funds have been there long enough so no doubts on the sources and the FD's age won't cause concerns. And an FD is valid POF provided it has regular breakage clauses and no outlandish charges.
Well, he has the funds in cash and nor in bank.
You gotta write a detailed letter along with your pof once you get it into FD. If you have proofs about your 15k CAD as how you got that much of cash, please provide them as well. Try to back your pof with as many docs as you can to convince CIC that the money is your own and not borrowed.
Well, he has the funds in cash and nor in bank.
You gotta write a detailed letter along with your pof once you get it into FD. If you have proofs about your 15k CAD as how you got that much of cash, please provide them as well. Try to back your pof with as many docs as you can to convince CIC that the money is your own and not borrowed.
I got thrown by the highlighted portion which appeared to indicate that the OP had the amount in the bank all this while but in a checking account or something.
kn2172 said:
I have maintained a cash balance of 15000 CAD since Jan 01 till now.
Can I transfer this money into fixed deposit in the same bank now ?
I got thrown by the highlighted portion which appeared to indicate that the OP had the amount in the bank all this while but in a checking account or something.
Oops... now when i go and read it again, it looks like you are right. He seems to have a checking or some account in Bank.
Nevertheless, his doubt/query has been answered (whichever case it may be).
