Using fixed deposits as evidence of maintenance funds

[pavanchodava]

any updates on this guys, pls help me out

[geriatrix]

Please don't make multiple posts on the same topic.

As per RBI act all term deposits can be withdrawn before premature time.

As per RBI, term deposits may be withdrwan before their term period depending on the policies of the issuing bank that the customer agrees to at the time of opening a fixed deposit,

If you need to use term deposits as evidence of maintenance funds, then the letter from the bank must state that the money is accessible by the account holder at any time. So I don't believe administrative review will overturn the refusal. IMHO, apply again after getting the letter from bank(s) in the said format.


regards

[jvijaya.80]

Hi,
I have a query regarding the date on which the fund maintanence letter was issued.
I have received the letter from the bank, with the fixed deposit details dated on 25-07-2010. Please let me know if i am applying on 30-7-2010 whether this will be valid.


Thanks
Vijayakumar

[jvijaya.80]

Hi Guys,
Could you please advise on the above.

Thanks
Vijayakumar

[geriatrix]

I have received the letter from the bank, with the fixed deposit details dated on 25-07-2010. Please let me know if i am applying on 30-7-2010 whether this will be valid.

Yes.


regards

[Ranjeet Kumar]

Hi All

I have kept the required funds for tier 1 VISA in term deposits in Pakistan under the scheme launched by Ministry of Finance, Govt of Pakistan with the name "Special Savings Certificates". Is any member from Pakistan has claimed for these certificates or know some thing about their eligibility?

I would also request indian friends to let me know if any person has kept funds not in Bank but in Govt run scheme? Further is it necessary to send original certificates or FDs along with application or attested black and white (or coloured) photo copy will be enough for this requirement?

[aspirant99]

Hi All

I have kept the required funds for tier 1 VISA in term deposits in Pakistan under the scheme launched by Ministry of Finance, Govt of Pakistan with the name "Special Savings Certificates". Is any member from Pakistan has claimed for these certificates or know some thing about their eligibility?

I would also request indian friends to let me know if any person has kept funds not in Bank but in Govt run scheme? Further is it necessary to send original certificates or FDs along with application or attested black and white (or coloured) photo copy will be enough for this requirement?

Sorry cant help on the saving cerificate query as I do not have any idea, however for the FDs, Yes you have send the original certificates as BHC considers only originals...good luck!!

[wenkat.pokkunuru]

Hi,
I am planning to apply for the HSW - Tier 1 next month.
I do not have funds on my name currently.

1) Is there a way I can cut down the 3month period instead of waiting for the funds to be there in my account for 3 months from now?
EX: Take a FD now and show that as a proof for Maintenance Funds ?? Does the start date of FD matters?

2) Can I show the funds by a sponsorer (from UK who holds a PR) or is it mandatory to have the funds on my own name?

3) Will some asset documents help for maintenance funds ?? Can I show them as supporting documents or substituting maintenance funds in any way?

Please do advice. Thanks in advance !!

[geriatrix]

Is there a way I can cut down the 3month period instead of waiting for the funds to be there in my account for 3 months from now?

No.

am planning to apply for the HSW - Tier 1 next month.

Therefore you can't .. next month!

Please read the policy guidance *carefully* as it answers all your other questions (as well).


regards

[rashichopra]

Hello Guys,

Can anyone pls guide me on the belows doubts:-

I am in uk ..but i am showing my earnings in India as i receive my salary in india.So on those grounds i am showing my earnings & maintainance of funds from india's bank account.Now in this i had a Fixed deposit in the past 12 months which is now matured and money has been credited to my account.Pls can anyone guide me on the type of letter i will need from the bank for the purpose of maintainance of funds.


Pls guys advise me urgently as i have to apply next month beginning.

[wenkat.pokkunuru]

Thanks "sushdmehta" for your reply !!

[rashichopra]

Hello Ppl.

Pls advise me urgently.Thanks

[wenkat.pokkunuru]

Regarding Maintenance funds, if the salary account has loans/EMIs going from it ..would it affect the maintenance funds (which is on a different account) ???

Please advice...

Thanks

[wenkat.pokkunuru]

Can someone through light on this?
What would be the impact if you have loans/EMIs going from the salary account?
Your Maintenance funds could be on a different account or same as salary account!!

Please advice..

Thanks in advance..

[nitishj]

Hi,

I am using 3 FDs of Rs. 1 Lac each as proof for maintenance funds. All 3 of them have my parents as joint holders, i am submitting these docs -

a. Letter from the bank that these funds are with them for past 2 years and can be encashed by either of the holder. The letter has bank's logo on it. (this letter is from another branch of the same bank, as i cannot go to the branch in which FDs are there, in such a short notice)

b. Original FD certificates.

c. No objection letter from my parents on a notary attested paper that these funds can be encashed by me, at any point of time.

The only thing, i am worried about is the fact that these FDs are maturing on 4th Sept, however it is stated on bank letter that they are auto renewal scheme.

does this looks fine? can i proceed with my application.

Thanks,
Nitish

[aspirant99]

Hi,

I am using 3 FDs of Rs. 1 Lac each as proof for maintenance funds. All 3 of them have my parents as joint holders, i am submitting these docs -

a. Letter from the bank that these funds are with them for past 2 years and can be encashed by either of the holder. The letter has bank's logo on it. (this letter is from another branch of the same bank, as i cannot go to the branch in which FDs are there, in such a short notice)

b. Original FD certificates.

c. No objection letter from my parents on a notary attested paper that these funds can be encashed by me, at any point of time.

The only thing, i am worried about is the fact that these FDs are maturing on 4th Sept, however it is stated on bank letter that they are auto renewal scheme.

does this looks fine? can i proceed with my application.

Thanks,
Nitish

Looks ok to proceed..good luck!!

[pavanchodava]

Hi Nitish,

I too am into the same issue, i have a FD jointly with my parents, so if i take the letter from bank stating that the funds can be withdrawn at any time and a no objection from parents will siffuce the need ? because i have alreay applied once and got refused because i have missed the above 2. Please let me know your thoughts on the same.

[nitishj]

Hi Pavan,

I think it should do.. I got my Visa and application got processed in 4 days.

Letter from bank should also say that these funds were with them for x months ( x has to be more than 3 months). It should also state that it can be encashed by either of the joint holders.

If you get the letter from your parents stating that they have no objection with you encashing the funds for the purpose of UK visit on a stamp paper, or on notary stamped paper, then it will further strengthen your case..

Thanks,
Nitish

[k4kumar]

Hi

I am maintaing the balance in the saving account for last 3 months. Can anyone provide the format of letter required from Bank.

[wenkat.pokkunuru]

Hi,
I see no template for a "cover letter" from bank in the case of showing 3 months liquid funds (not FD).

Is it same as FD??
Can somebody please help?

Thanks in advance...

[wenkat.pokkunuru]

Hi Folks,
Do I need to submit original FD or can i go with attested colour xerox of the same?
Please confirm.
I saw that one of the topics said it can be an attested copy but the application form is saying "all originals" under "Maintenance Funds Doc section".

I was under the impression that it can be an attested copy. Thats what i have been hearing from people who have filed.

Quick help would be very much appreciated.

Thanks in advance..

-wenkat

[sudeepss]

@wenkat.pokkunuru

All documents should be in originals attested copies are generally not encouraged.

[ritabh]

18 April 2011 Oriental Bank of Commerce
Bank Address
Tel: XXXX
Email: XXXXX@XXX.comEmail

The Visa Officer
British High Commission
New Delhi, India


Subject: Confirmation of Fund Maintenance


Dear Sir / Madam,

This is to certify that Mrs. XXX D/o XXXX and Mr XXXX S/o XXXXX are joint account holders (with either or survivor mode of operation) of 2 Term deposits for Rs XXXXX/- and Rs. XXXXXX/- with Oriental Bank of Commerce, XXXXXX(Address of Bank). The Term Deposit details are as under:

Term Deposit A/C No Account Holder Name Amount (INR)

XXXXXXXXXXXXXX XXXXXXX, YYYYYYYYYY XXXXXXXX/-
XXXXXXXXXXXXXX XXXXXXX, YYYYYYYYYY XXXXXXXX/-

Both the term deposits are with effect from 04.02.2010 and were renewed on 04.02.2011 for one year to fall due on 04.02.2012.

I confirm that total balance amount in these term deposit a/c’s is Rs. XXXXXX/-(Rupees XXXXXXXXX only) inclusive of accrued interest as on 18.04.2011. The term deposits don’t have any lien and can be liquidated immediately without any condition on demand by any of the joint account holders. The term deposits are under auto renewal scheme.

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

Yours sincerely,

Senior Manager
Oriental Bank of commerce
Address of Bank


My wife and I are joint account holders of two FDs so this is the letter I will use for dependent visa application. Can anybody please tell if there is any correction required in this letter?

Many Thanks in Advance
Ritesh
[/b]

[teddy0409]

Never use FD for maintanence fund,

This is my personal opinion as it is having many strings attached, especially you have to prove the case worker that the FD is immediately cancelable and money is accesseble when we are in need, Make sure with the bank that you can cancel the FD by paying a small penalty, if so you have to mention that the FD is cancelabe,
If the FD is non-cancelable, you cannot keep that as your maintanence fund,

Iam having a FD for the last 2 years, and there is no option for pre-closure,

Hope this helps to somebody in the forum

[Andrey Simonov]

HSBC's Fixed Rate Saver Bond (UK) worked for me.

I have produced a special letter telling that funds are available at any time, but most likely UKBA knows that those accounts are liquidatable, and a special letter is not required. Just a letter confirming it's your account should be ok.