Proof of Funds and Car Loan

I have a couple of questions about Proof of Funds. I would really appreciate your help :slight_smile:

So me and my husband got an ITA yesterday and we are very excited! My husband is the primary applicant and I am the dependent.

According to the table, the minimum would be CAD 16000 in the bank. But he has an active car loan of $16000 left. So should we show $32000 or is 16k enough?

Also, the bank loan is from a different bank than the account for which we will show the money. Should we get a statement from both the banks?

Another thing is, the money is in my account and it is not a joint account. Should it be in his account or would a letter stating that I am his wife and we both have access to the account would work?

Kindly help as we donโ€™t know anyone personally who has been through this process and it will be a huge help!

Thank you.

We just showed a 6-month average letter from our bank showing the $$$ and also uploaded a 6-month 401K statement. You donโ€™t need to show the car loan :slight_smile:

I think any one of you showing your bank account statements should be fine.

Hi @sanjanaraj11,

Congrats on the ITA. Would it be possible to share how long it took to get the ITA work permit and when exactly was it applied for?

Thank you!

Thank you so much. I really appreciate your reply. :smile:
We got the letter for 12 months as they only have that format.
I will attach the 401k as well thank you.

Thank you! Yes, we completed our application on August 31 and we had a qualifying score for the recent draw of September 2nd :slight_smile:
We applied for our WES, PCC from July and we gave our IELTS in August.

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