I am getting the letter from my bank along the lines of what CIC say on their website:
be printed on the financial institution’s letterhead
include their contact information (address, telephone number and > email address)
include your name
list outstanding debts such as credit card debts and loans
include, for each current bank and investment account:
the date each account was opened
the current balance of each account
the average balance for the past six months
I have some funds which are sitting outside of the FD. But the bulk of my saving are now locked within FD. And yes, I did confirm with the bank that they can liquidate it if needed with a penalty of course.
The FD is in US currency which I don’t think would be a problem?
With regards to “how much liquid cash I would get”:
The FD is 30K US Dollars – which would amount to way more than 12K CA$ after deducting whatever penalty there is. I don’t think the penalty would be more than a couple of grands of USD.