Has anyone got visa Based on FIXED DEPOSIT

[PRadeep Itnal]

Hi all

HAs anyone got HSMP visa tier 1 general showing Fixed deposit? in recent Past?

[ash210]

i did

[ukdiscuss]

Hi,
Can you please post the format of your letter?
It would be of great help.

[mclrajan]

Should I submit original FD document? or Letter from Bank is only enough?

[PRadeep Itnal]

Ash what all are the documents you provided pls guide me in this regard.

[PRadeep Itnal]

Hi Ash
Did you provide original Fixed deposit Certificate.?

[kommsu]

Hi All,

I have provided FD as maintanence of funds with bank letter and I am still waiting for approval .
I wil post the letter format tomorrow as I dont have soft copy of that format which was provided to me by bank.
I have submitted Bank Letter (signed and sealed by Bank Manager on Original Letter Head ) and xerox copies of FD (signed and sealed by Bank Manager) with my application.


MY TIMELINES..
Type: Tier1 (G), VFS HYD
Application Submitted on 08th Mar 2010
Application Dispatched to BHC Delhi on 08th Mar 2010
Under process Status changed on 13th Mar 2010
Approved on: Not Yet

Thanks&Regards,
Kommsu

[PRadeep Itnal]

Hi all
I have taken this initiative to collect information from all group users, who had applied for HSMP and used Fixed deposit as Proof of fund maintenance.

Those who are successfull -- please provide the documents they have given

Those who are unsuccessfull -- please provide list of documents they provided and brief description of their refusal.

Later we can conclude whether FDs are safe way to Claim points or not.

Please provide documents in a list FORMAT 1. ........ 2......... like that

[John]

Surely, if we are talking about a fixed-term deposit, it is very relevant to take into account the expiry date of the fixed term. That is, surely there is a difference between a fixed-term deposit expiring in one week time ..... compared to one expiring in say 5 years time?

PRadeep Itnal, your deposit, when does that expire?

[PRadeep Itnal]

@ John

My fixed deposit is maturing in July 2010.

[ukdiscuss]

Hi,
I am going to apply for my Tier 1 visa in the first week of april.
And from the board i found the following was recommended:
-------------------------------------------------------------------------------
To Whomsoever It May Concern

This is to certify the Mr. XXX is maintaining a Fixed deposit, of xxxxxx in Indian Rupees, which is equivalent to xxxxX GBP(exchange rate as specificied on oanda.com: 0.01455) with us since DD.MM.YYYY,

The amount maintained is unconditionally withdrawable, and does not have any lien and can be liquidated at any time by the account holder.

The certified amount is in the account xxxxx and associated with the savings acc yyyyyy.

The certificate is issued at the specific request of the account holder and holds no responsibility on the official signing on it.

For XXX Bank
Address of bank
-------------------------------------------------------------------------------
Along with the above letter, i will be attaching my FD original.

Kindly let me know if this letter needs any correction.

People who were successful in applying using the FD would be in a better position to answer.

Thank you.



Authority Signatory.

[John]

OK, but is that factually correct? The money can be withdrawn at any time? If that is indeed the case, well to me that does not sound like a fixed term deposit.

[ukdiscuss]

Hi John,
I am having a fixed deposit in Indian bank:
http://www.indianbank.in/deposits.php?by=47&ty=2
Please find the below details mentioned in the above link:
(It states that one can take a loan upto 90%. Also the deposit can be foreclsed before its maturity period with penalties.)
[u]Other Requirements/Details[/u]
* Simple interest at quarterly or longer rest. Monthly payment of interest with discounted rate.
[b]* Loan facility : Upto 90% of the principal amount with rate of interest at 2% p.a. over the rate of interest payable to deposit.
* Deposits can be foreclosed before the due date with the penalty pravailing on the date of such foreclosure.[/b]
* TDS will be deducted as per rules from time to time under 194A of the Income Tax Act.
* Customers can give 15G/15H as the case may be at the time of opening the account and every year during April, tax will not be deducted.
* Deposit will be automatically renewed for equal period of earlier deposit subject to the maximum period of 12 months in the absence of instructions from the customers before due date.
* The customer can vary the contract terms like period etc within 14 days from the date of such auto renewal.
* Premature renewal facility without penalty is available provided the term deposit is extended for a further period longer than the original due date.
* Nomination Facility Available.

[John]

Well that makes sense, but it does not seem to accord with :-

The amount maintained is unconditionally withdrawable, and does not have any lien and can be liquidated at any time by the account holder.

It is clearly not "unconditionally withdrawable". It is clearly conditionally withdrawable.

[ukdiscuss]

Hi John,
I noted your point.

So can i change the letter as Conditionally withrawable?
Will this stand good and pass the maintenance fund eligibility?
Please advice..

Updated letter for your reference:
-------------------------------------------------------------------------------
To Whomsoever It May Concern

This is to certify the Mr. XXX is maintaining a Fixed deposit, of xxxxxx in Indian Rupees, which is equivalent to xxxxX GBP(exchange rate as specificied on oanda.com: 0.01455) with us since DD.MM.YYYY,

The amount maintained is conditionally withdrawable, and does not have any lien and can be liquidated at any time by the account holder.

The certified amount is in the account xxxxx and associated with the savings acc yyyyyy.

The certificate is issued at the specific request of the account holder and holds no responsibility on the official signing on it.

For XXX Bank
Address of bank
-------------------------------------------------------------------------------

[John]

and does not have any lien and can be liquidated at any time by the account holder.

Surely that also needs to be changed?

[PRadeep Itnal]

This is to certify that Mr. XXXX is holding a Fixed deposit bearing No.XXXX for Rs, XXXXX /-.

This is also to confirm that he had maintained this fixed deposit of an amount of Rs. XXXX/- (Rs.in words only) for a period of more than 3 months from XXXXX and the amount of Rs. (IN words) can be encashed immediately.

This letter is issued on specific request of the customer without any liability on part of the Bank or its officials.
Hi john post comment on this.

[ukdiscuss]

Hi John
yes i have changed it :
-------------------------------------------------------------------------------
To Whomsoever It May Concern

This is to certify the Mr. XXX is maintaining a Fixed deposit, of xxxxxx in Indian Rupees, which is equivalent to xxxxX GBP(exchange rate as specificied on oanda.com: 0.01455) with us since DD.MM.YYYY,

The amount maintained is conditionally withdrawable, and does not have any lien and can be liquidated at any time by the account holder.

The certified amount is in the account xxxxx and associated with the savings acc yyyyyy.

The certificate is issued at the specific request of the account holder and holds no responsibility on the official signing on it.

For XXX Bank
Address of bank
---------------------------------------------------------------------------------

Just need confirmation from people who got the visa using the FD, if this letter is sufficient enough.

[John]

I am failing to spot the needed change. Surely the deposit does have a lien, in favour of the bank ...... otherwise why would the bank offer the customer a loan of most of their deposit?

[ukdiscuss]

Hi john,
If the deposit is foreclosed, then there is a penalty or a fee involved.
If a loan is taken from the deposit, an interest is applied, for the benefit of the bank.

[John]

Exactly, you are proving my point.

[ukdiscuss]

Hi John,
I got your point now.
Then please check if the below letter holds good.

-------------------------------------------------------------------------------
To Whomsoever It May Concern

This is to certify the Mr. XXX is maintaining a Fixed deposit, of xxxxxx in Indian Rupees, which is equivalent to xxxxX GBP(exchange rate as specificied on oanda.com: 0.01455) with us since DD.MM.YYYY,

The amount maintained is conditionally withdrawable,and can be liquidated at any time by the account holder.

The certified amount is in the account xxxxx and associated with the savings acc yyyyyy.

The certificate is issued at the specific request of the account holder and holds no responsibility on the official signing on it.

For XXX Bank
Address of bank
---------------------------------------------------------------------------------
[/b]

[ukdiscuss]

Hi,
Another format of the bank letter.


*************************************************************
/*BANK LOGO*/very important
Bank Name and Address

The Visa Officer,
The UK Border Agency,
Tier 1 (General).


Subject: Confirmation of Fund Maintenance

Dear Sir/Madam,

This is to certify that Mr.XXXX is maintaining a Fixed deposit of YYYY INR, with us since June 1st 2009(Including the period from 1st January 2010 to 31st March 2010).

The Fixed Deposit FDR No. 1234 is associated with the Savings Account 034534543.

We confirm that the maintained money of 500000 INR, can be withdrawn, and can be liquidated at any time by the account holder.

/*A table of details*/
FDR No Issue Date Amount Maturity Date Savings Account No
123123 ZZZZ INR 1st June 2010 034534543



Sincerely,
The Bank Manager
The Indian Bank,
/*ADDRESS OF THE BANK*/

Along with the bank manager’s seal, signature with date.
This letter should be printed in the official letter head of the Bank, With a clear logo of the bank.
*************************************************************

Please give your advice and suggestions if any.

[milindsm]

Term "Can be liquidated at any time" or "Can be encashed at any time" are very important to them...!!! Highlight (Bold, underline etc.) those terms in you letter...!!!!

[ukdiscuss]

Yes done i will highlight it in bold. Thank you.