Fixed deposits as evidence of Tier-4 maintenance funds

[Deviser]

I have a question about term deposit account where money fixed for monthly return in different tenure with different interest rates. Example is following:

1.) 3 month fixed term deposit = 6% return
2.) 1 year fixed term deposit = 8% return
3.) 5 year fixed term deposit = 10% return
4.) 10 years fixed term deposit = 13% return

Money has been fixed as per term/tenure given but in case of emergency all money (full/part) can be taken out within 24 hours notice by paying a 2%-3% surcharge.

Now can anybody tell me, all of above 4 category fixed term deposits can be shown as maintenance fund for Tier 4 visa or not?

[Lucapooka]

You have entered what is perhaps a grey area. The rules and guidance only make reference to money being readily available and that bonds (aka fixed term deposits et al) are unacceptable.

Maintenance must be in the form of cash funds. Other accounts or financial instruments such as shares, bonds, pension funds etc, regardless of notice period are not acceptable.

Try Googling bond and see the multitude of answers on that subject. I don't think you will get a definitive answer unless you apply and see what kind of response is given by the UKBA. I also doubt ECOs would have particular knowledge and understanding on every type of bank account or deposit available in the wider world. Good luck!

[Deviser]

Bonds? But these deposit do not use any word of 'bond' in documentation. Also, there is no 'bond' issued against deposits. All funds are shown as cash in a sub-account of the main account and bank statements can be taken out as usual.

[Deviser]

154. The evidence of money held must be of cash funds in the bank (this includes savings accounts and current accounts even when notice must be given), as a loan letter or official financial or government sponsorship available to the applicant. Other accounts or financial instruments such as shares, bonds, overdrafts, credit cards and pension funds are not acceptable, regardless of notice period.

What do you think about these lines from guidance?