Using fixed deposits as evidence of maintenance funds

[SSUK]

I had applied for Tier-1 General Application recently from India, it got rejected due to Maintenance funds. I had used Fixed Cash Deposit to show Maintenance funds along with some cash from current account. I also got required letters from my bank about Fixed Deposit to explain that it can be liquidated anytime, but they have rejected the application. Even Administrative review was rejected.

Please can you guide me, what’s the letter template for FIXED DEPOSIT (Cash) in India which I need to get from my Bank in order to show the required Maintenance funds. It’s bit urgent, as the new Tier-1 rules are in place from 6th April 2010 & I need to submit a fresh application ASAP. I would really appreciate your response.

1.Please can you share the letter template which is required for using fixed cash deposit (FD) from bank.
2. Also it would be very helpful to see if anyone had recent success in Tier-1 App using FIXED DEPOSIT for Maintenance funds.
3. And, if Administrative Review is rejected, do I have any other option to escalate it any further ? As I couldn’t find the written guidance for using Fixed Deposits from India.

[aruni4470]

Similar discussion

http://www.immigrationboards.com/viewtopic.php?t=53582

[kommsu]

hi SSUK,

Can you state the reason of rejection clearly(HO mentioned exact cause) by HO, so that other people who are using FD's as Maintanance of funds may submit their letters accordingly.
Even I also submitted my FD and cover letter by BankManager for the same.. I am waiting for status.
Your co-operation highly appriciatable.

Thanks&Regards,
Suresh.K

[dima]

Did you submit your original FD along with the letter from bank?Did to take care of the proper exchage rates for pounds?

As a matter of fact, Letter from the bank should simply say that, FD a/c , amount xxxxx owned by xxx can be encahed any time.

[SSUK]

Yes i did submitted orignial FD along with letter which mentioned below:-

I can confirm that the above named individual holds a fixed term deposit with <bank name>. The fixed term deposit is for the sum of xxxx INR and these funds are instantly accessible and can be withdrawn at any time.

Reason for rejection was that the bank letter didn't mentioned Term of deposit...I am unable to find the written guidance for FD..Any idea where can we find written guidance for Cash Fixed Deposits ?

To me it appears, they were just finding reasons / excuses to reject the application ...

[SSUK]

Hi Suresh, Please can you share the letter tempalte for FIXED DEPOSIT which you have used ?

[kommsu]

Hi SSUK,

I got my VISA.. I wil share my FD COVER letter by next post..

I used Attested(stamped and signed copy of FD by manager) FD and bank Manager Cover letter.

My time lines below
VFS center applied: Hyderabad
Applied on: 08 Mar 2010
Application Dispatched to BHC: 08 Mar 2010
Under process Status changed on: 13 Mar 2010
Passport Stamped on : 23 Mar 2010
Valid Till :10 Jun 2013

Thanks&Regards,
Suresh.K

[SSUK]

Congrats Suresh, i am applying on 29th March, please can you share the tempalte ASAP, it will be really helpful.

[kommsu]

HI SSUK,

I will share tomorrow..

Thanks,
Suresh.K

[kommsu]

Hi All,

I have applied on 08 mar 2010 with the below letter format and got my visa on 23Mar2010 .
Please find below format for FD letter from bank (which needs to be printed on Bank official letter head and stamped and signed by manager)

>>>> letter format starts>>> Fixed Deposit Certificate

Date:XX-Mar-2010

This is to certify that Mr XXXXXXX , S/o. XXXXXXX, Address XXXXX is having a fixed deposit for Rs. XXXXXX (so and so rupees only ) associated with A/c XXXX and details as under:

FDR No. NAME OF THE FDR HOLDER AMOUNT
FD No/XXX Mr. NAME Rs.XXXX

Date:XXX When started FD due on XXX (Mention when is the due date)

#### use below if FD is renewed start
(The same FDR is renewed on XXX date with No. FD XXXX )
Date:XXX When renewed period starts due on XXX (Mention when is the due date )
####use below if FD is renewed end

We confirm that balance amount is this FDR is Rs. XXXXX(so and so rupees only ) since XXX date as on XXXX(present date).This FDR can be encashable immediately on demand by the applicant. This FDR is under auto Renewal Scheme.

This certificate is issued on the specific request if the account holder and at no risk and cost to the issuing officer of the bank


Yours truly

Branch Manager
>>> letter format ends>>>>

Hope this format helps.

Thanks&Regards,
Suresh.K

[SSUK]

Many Thanks for all the help...Finally got the visa, using the templated from this site...Many Thanks...

[jasb1327]

Many Thanks for all the help...Finally got the visa, using the templated from this site...Many Thanks...

can u share the template u used plz..or was it jst same as above given by kommu

[SSUK]

I have use the Templates suggested by kommu, exactly as it is.Many Thanks.

[shobitha]

Hi SSUK & Hi Suresh.K (kommsu),

I need some guidence from you in using Fixed deposits as Maintenence of funds.

I have 2 fixed deposits one in ING vysa and the other in Karur vysa. If I add both the money I get a required amount i.e., 2800 pounds. Can I show these two fixed deposits as proof for fund maintenence and I will get two seperate letters from both the banks. Do you see any reason for rejection in case of submitting two fixed deposits from different banks.

Also I will submit my original fixed deposits along with the letter template given by Suresh.

What was the maturity date mentioned in your fixed deposits?
In my fixed deposits maturity date is mentioned as 29/04/2012 and in another one it is mentioned as 30/03/2011. but my fixed deposits can be encashed at any time.
Even though FDs can be encashed at any time, will there be any possibility of rejection as my maturity dates are 1 and 2 years away from my date of application which is 26th of may, 2010?

[kommsu]

Hi shobitha,

Please find the answers below for your queries

I have 2 fixed deposits one in ING vysa and the other in Karur vysa. If I add both the money I get a required amount i.e., 2800 pounds. Can I show these two fixed deposits as proof for fund maintenance and I will get two separate letters from both the banks. Do you see any reason for rejection in case of submitting two fixed deposits from different banks.

Also I will submit my original fixed deposits along with the letter template given by Suresh.

You can submit 2 separate letters from respective banks for 2 fixed deposit certificates ,but provide a covering letter clearly.

What was the maturity date mentioned in your fixed deposits?
In my fixed deposits maturity date is mentioned as 29/04/2012 and in another one it is mentioned as 30/03/2011. but my fixed deposits can be encashed at any time.

In the given letter format ... >> Date:XXX When started FD due on XXX (Mention when is the due date) <<
Here due on date you mention the "29/04/2012 " for one deposit and "30/03/2011" for other . that will not cause you any problems. You no need to mention Renewal details of your FD.

Even though FDs can be encashed at any time, will there be any possibility of rejection as my maturity dates are 1 and 2 years away from my date of application which is 26th of may, 2010?

Yes.. usually FDs carry some risks . If your bank letters clearly mentions that amount is encashable at any time .. then It wont be a problem to your application.

Hope these answers your queries..
All the best..

Regards,
Suresh.k

[shobitha]

Date:XX-Mar-2010

This is to certify that Mr XXXXXXX , S/o. XXXXXXX, Address XXXXX is having a fixed deposit for Rs. XXXXXX (so and so rupees only ) associated with A/c XXXX and details as under:

FDR No. NAME OF THE FDR HOLDER AMOUNT
FD No/XXX Mr. NAME Rs.XXXX

Date:XXX When started FD due on XXX (Mention when is the due date)

#### use below if FD is renewed start
(The same FDR is renewed on XXX date with No. FD XXXX )
Date:XXX When renewed period starts due on XXX (Mention when is the due date )
####use below if FD is renewed end

We confirm that balance amount is this FDR is Rs. XXXXX(so and so rupees only ) since XXX date as on XXXX(present date).This FDR can be encashable immediately on demand by the applicant. This FDR is under auto Renewal Scheme.

This certificate is issued on the specific request if the account holder and at no risk and cost to the issuing officer of the bank

Yours truly
Branch Manager
>>> letter format ends>>>>

Thanks Suresh for your kind help..

Hi Suresh and Seniors,

I have a query regarding the letter format that you have used. Please can I request you to clarify the same.

1. I dont have any account associated with my ING Vysa FD, Is it mandatory that my FD should be associated with any account
2. My two FD start dates are 31/03/2009 and 29/04/2009, do I need to mention the details about the source of Fixed deposits, that is how the FD money has been earned etc...will this matter. My FD start dates falls within the claim period but I was in UK whn this FD was initiated, will this have any problem.
3. As mentioned in your previous response, I dont have to give any details about renewal, please confirm.

[kommsu]

Hi Shobitha,

Please find answers for your queries below

1. I dont have any account associated with my ING Vysa FD, Is it mandatory that my FD should be associated with any account

No need to associate account details .. You can submit letter for the same from Bank Manager where as you can remove "a/c no" from bank letter.

2. My two FD start dates are 31/03/2009 and 29/04/2009, do I need to mention the details about the source of Fixed deposits, that is how the FD money has been earned etc...will this matter. My FD start dates falls within the claim period but I was in UK whn this FD was initiated, will this have any problem.

You can submit a bank letter showing dates from mentioned dates to valid dates.U no need to mention the source of FIxed Deposit i.e How you earned that money.

3. As mentioned in your previous response, I dont have to give any details about renewal, please confirm.

You no need to mention renewal details ..
Find the letter format for you below

>>>> letter format starts>>> Fixed Deposit Certificate

Date:XX-Mar-2010

This is to certify that Ms Shobitha , S/o. XXXXXXX, Address XXXXX is having a fixed deposit for Rs. XXXXXX (so and so rupees only ) associated with our Bank and details as under:

FDR No. NAME OF THE FDR HOLDER AMOUNT
FD No/XXX Ms. NAME Rs.XXXX

Date: 31/03/2009 due on 31/03/2010 (Mention when is the due date)


We confirm that balance amount is this FDR is Rs. XXXXX(so and so rupees only ) since XXX date as on XXXX(present date).

This certificate is issued on the specific request if the account holder and at no risk and cost to the issuing officer of the bank


Yours truly

Branch Manager
>>> letter format ends>>>>

[shobitha]

Hi Suresh,

Thanks for Clarifying my queries. And for the template.

It is indeed very useful.

All the best.

Regards,
Shobitha

[write2paras]

Hi Suresh and others

I have a query regarding using the FD as a fund maintenance proof.

I have three FD to show as fund maintenance proof but me and my wife are holding it jointly and my wife is first holder and I am the second.
I created them in my wife's ac and recently( 1 month before) I converted them as joint account. I got the updated FD receipt from the bank which has both the name on it and original FD registration date ( which is Sept-2009) and maturity date as Sept-2010. but the date on FD receipt is 15-06-2010.

Can Anyone please confirm whether I use these FD receipt under joint holding along with banks letter to show as a fund maintenance proof.

thanks for the reply.

[Sudipta BM]

Hi kommsu,

Thanks for sharing the format of the FD with everyone. This really helps.
I am planning to apply for tier 1 (general) visa next week.

For Prev Earning category am planning to show my FD with State Bank Of Travancore Bank, Bangalore.

My maturity date is 2015. Will that be valid? Does the maturity date need to one month or less?

Please guide/help. Thanks in advance.

-Sue

Hi All,

I have applied on 08 mar 2010 with the below letter format and got my visa on 23Mar2010 .
Please find below format for FD letter from bank (which needs to be printed on Bank official letter head and stamped and signed by manager)

>>>> letter format starts>>> Fixed Deposit Certificate

Date:XX-Mar-2010

This is to certify that Mr XXXXXXX , S/o. XXXXXXX, Address XXXXX is having a fixed deposit for Rs. XXXXXX (so and so rupees only ) associated with A/c XXXX and details as under:

FDR No. NAME OF THE FDR HOLDER AMOUNT
FD No/XXX Mr. NAME Rs.XXXX

Date:XXX When started FD due on XXX (Mention when is the due date)

#### use below if FD is renewed start
(The same FDR is renewed on XXX date with No. FD XXXX )
Date:XXX When renewed period starts due on XXX (Mention when is the due date )
####use below if FD is renewed end

We confirm that balance amount is this FDR is Rs. XXXXX(so and so rupees only ) since XXX date as on XXXX(present date).This FDR can be encashable immediately on demand by the applicant. This FDR is under auto Renewal Scheme.

This certificate is issued on the specific request if the account holder and at no risk and cost to the issuing officer of the bank


Yours truly

Branch Manager
>>> letter format ends>>>>

Hope this format helps.

Thanks&Regards,
Suresh.K

[aspirant99]

Hi kommsu,

Thanks for sharing the format of the FD with everyone. This really helps.
I am planning to apply for tier 1 (general) visa next week.

For Prev Earning category am planning to show my FD with State Bank Of Travancore Bank, Bangalore.

My maturity date is 2015. Will that be valid? Does the maturity date need to one month or less?

Please guide/help. Thanks in advance.

-Sue

Hi All,

I have applied on 08 mar 2010 with the below letter format and got my visa on 23Mar2010 .
Please find below format for FD letter from bank (which needs to be printed on Bank official letter head and stamped and signed by manager)

>>>> letter format starts>>> Fixed Deposit Certificate

Date:XX-Mar-2010

This is to certify that Mr XXXXXXX , S/o. XXXXXXX, Address XXXXX is having a fixed deposit for Rs. XXXXXX (so and so rupees only ) associated with A/c XXXX and details as under:

FDR No. NAME OF THE FDR HOLDER AMOUNT
FD No/XXX Mr. NAME Rs.XXXX

Date:XXX When started FD due on XXX (Mention when is the due date)

#### use below if FD is renewed start
(The same FDR is renewed on XXX date with No. FD XXXX )
Date:XXX When renewed period starts due on XXX (Mention when is the due date )
####use below if FD is renewed end

We confirm that balance amount is this FDR is Rs. XXXXX(so and so rupees only ) since XXX date as on XXXX(present date).This FDR can be encashable immediately on demand by the applicant. This FDR is under auto Renewal Scheme.

This certificate is issued on the specific request if the account holder and at no risk and cost to the issuing officer of the bank


Yours truly

Branch Manager
>>> letter format ends>>>>

Hope this format helps.

Thanks&Regards,
Suresh.K

You sure you're showing FDs as part of your previous earnings n not maintainence funds?..because if your are then let me tell u that FDs can't be shown as previous earnings..Though if u are showing FDs as part of maintainence funds then the maturity date of 2015 does not matter..just follow the awesome template above and you should be ok...goodluck!!

[Sudipta BM]

sorry about the typo...yes am showing it under maintenance of funds...but to my disspointment i realised i can't apply before the 19th july.

my FD had a maturity period of 5 yrs...and the bank says they cannot mention "this FD cant be encashed anytime" as its a 5 yr lock in period.

i was thinking of hurrying my visa app before 19th but now i can't do that.

[gotovamsee]

Good going guys,


Let me see if any1 has some inputs for my strange situation.


Well, I got my Tier1 Visa in the month of april-10 that is valid from june-10. Its all good.


Now that I am still in india and did not see any reason to maintain funds so fell down to around 2400 pounds.


I realized lately that now I want to apply dependent visa while I'm here, for which I have to show funds of 2600 800 pounds.


My wife is having a FD on her name for an equivalent of 3500 pounds since 2yrs in a local bank here. Recently there was also a loan taken on this FD.


Now bank is ready to provide us a stmt and letter without showing any loan on this. But obviously not mentioning tht the amount is encashable.


Now my question to the readers are:


- Can I procede applying my wife's dependents visa with her FD as maintenance funds for both of us.


- Do I have to provide again the outdated funds statements copy that I submitted last time for my visa.


- Will that be any good if I show my recent bank statements of addl 2500 pounds equivalent along with my wife's FD, or will that confuse case worker too much.


- Will case worker accepts my FD as recognized funds maintained in a local town bank. Not a national bank?


- Any more suggestions are welcome.


Thanks for your time.

[geriatrix]

Without the bank stating that the money held in term deposits is readily accessible (be withdrawn) by the account holder, you cannot use this money as evidence of maintenance funds - as the money is not available to the account holder prior to a maturity date.

As the primary applicant, you cannot use money held by someone else in their account as evidence of your (own) maintenance funds.

The letter and the statement of account (term deposit) must be recent i.e.- dated within a month preceding the application. And the statement of account must cover a 3 month period (as explained in the policy guidance) and, IMHO, fulfil all other specified requirements as well.

It doesn't matter if you hold an account in nationalized or private sector or co-operative bank, as long as it is regulated by the central bank of the country (RBI in your case). If it is a bank not known / has no branches outside the city or state, then you might need to provide a letter from the central bank certifying (RBI) that the institution is regulated by them.


regards

[pavanchodava]

I have applied for tier1 general along with al l supporting documents. The concern raised by the BHC Letter issues by bank for the FD which is jointly maintained with my parents is not showing that it can be withdrawn at any time. They have given me for admin review.

Can you please tell me how to proceed further on the same. BHC has not asked for any document proof, but asked for reason which can make my application reverted.

As per RBI act all term deposits can be withdrawn before premature time.

Please guide me. thanks