Hello all, Need advice on proof of fund. Our CoPR is expired and now we are in the process of adding our newborn. They…
CanadaPermanent Resident1Hello all, Need advice on proof of fund. Our CoPR is expired and now we are in the process of adding our newborn. They didn't ask for the updated PoF but we are planning to proactively send the updated docs.Can we show FD as POF or do we have to transfer it to savings account? Earlier we kept POF in savings and once our CoPR got expired we transferred it to FD , we changed the bank also, but the whole amount remains untouched,will it create any problem? Thank in advance
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Using a Fixed Deposit (FD) as Proof of Funds when adding a newborn after CoPR expiry
3 Answers
FDs are totally fine.. I had shown FDs only but they were readily liquidable.. make sure you get that written on the POF from the bank if they are liquidable through mobile app or internet banking..
In my knowledge a POF is not required for this as they didnt ask for it, but just in case FDs are definitely acceptable as pof no need to liquidate
I wasn't asked to send updated PoF when I added my new born.