Maintanence Funds - How much is enough?

SAPIENT · Post by **SAPIENT** » Wed Sep 10, 2008 3:52 am

Dear Friends,

This is regarding the tier-1 maintenance funds. I would like to know if showing a proof of 2.51 lakhs for 3 consecutive months a good amount for maintenance section of tier-1 .

alternatively, has anyone had problems with your applications for maintaining an amount close to 2.51 lakhs?.

Thanks in Advance, Sapient

niw2 · Post by **niw2** » Wed Sep 10, 2008 4:32 am

The amount required for applications made from outside the UK is fixed. That amount if 2800 pounds (plus 1600 for each dependent accompanying the applicant). If an applicant maintains that amount, the maintenance requirement is satisfied. If the applicant maintains less than that amount, their application fails. Under the Tier 1 system, case workers do not make discretionary judgment calls on the maintenance issue like they used to under the old Entry Clearance system.

nishantchawla · Post by **nishantchawla** » Wed Sep 10, 2008 10:17 am

At todayâ€™s rate of Rs. 78.966/GBP you have sufficient funds. However, the conversion is done on the day of your application irrespectively of the conversion value over the three month period.

Your Rs. 2,51,000.00 is quiet sufficient to claim points for Maintenance Funds as long as the value of GBP in INR does not cross 89.643 on the day of your application.

Use the Currency Converison Tool at http://www.oanda.com/

Post by **geriatrix** » Wed Sep 10, 2008 5:18 pm

nishantchawla wrote:the conversion is done on the day of your application irrespectively of the conversion value over the three month period.

If I am not mistaken, forex rate on the day when bank statement was issued is used for currency conversion of maintenance funds.

regards

nishantchawla · Post by **nishantchawla** » Wed Sep 10, 2008 5:42 pm

sushdmehta wrote:If I am not mistaken, forex rate on the day when bank statement was issued is used for currency conversion of maintenance funds.

You are right. It is forex rate on the day of the statement and not on the day of the application that is considered.

subashcb · Post by **subashcb** » Thu Sep 11, 2008 1:30 pm

Friends
i maintain only 2,50,000 inr.is that sufficient right.

Thanks in advance

niw2 · Post by **niw2** » Thu Sep 11, 2008 9:13 pm

Step 1. Go to http://www.oanda.com/convert/classic and obtain the latest exchange rate for british pounds.

Step 2. Calculate whether you hold 2800 pounds.

Immigrationboards.com: Immigration, work visa and work permit discussion board

Maintanence Funds - How much is enough?

Maintanence Funds - How much is enough?