Uk Spouse Visa: Term deposits for Cash savings

[spbos]

Hi all,

My spouse is an UK citizen and I am applying for a spouse visa from the USA (I am an Indian). She works as a sole director of a limited company. We are not showing her income as it requires lot of documentation. We are planning to go on the saving route instead. I have equivalent of 60500 UK pound in my current account in the USA. So we need some 2000 pound more ( we have British citizen children, but we do not have to show money for them). We also have money in term deposits in India: We had put money in it in 2012 and it will mature in 2017. I have the original term deposit certificate with me. Can I use it to supplement my savings in the USA. Being term deposits, they do not have regular statements. But I can withdraw money anytime i like with a 0.5% interest penalty and it is fully repatriable. I am copy-pasting the general description of the term deposit from the website of the bank. Please let me know what you think.
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NRE Term Deposits
• Rupee deposits of fixed tenure.
• Minimum period of 1 year.
• Maximum period of 10 years.
• Interest paid quarterly on Term Deposit Receipts (TDRs).
• Principal & interest amount are fully repatriable.
• Premature withdrawals permitted (conditional): On pre-mature withdrawal of the Deposit (after completion of 1 year), interest will be calculated at applicable rate for the period the Deposit has actually remained with the Bank less applicable penalty as under:-

NRE term deposits opened Penalty
Before 1st January, 2012 1%
From 1st January, 2012 0.50%*


* The interest paid shall be 0.50% below the rate applicable for the period deposit has remained with the Bank or 0.50% below the contracted rate, whichever is lower.
o No interest is payable if the deposit is withdrawn before one year.

[spbos]

Please, somebody, let me know.

[abdulraheem123]

A very good question spbos as i am in a similar situation myself and would like the answer to this also.

As by not showing my income from my limited company and just showing the savings i have, would the immigration officer suspect where i got all the savings from if i dont declare my income from my ltd company. And would he want to know where i got all the money from? or do there just want to see that i own the savings or stocks?

[spbos]

Please refer to Annex FM Section FM 1.7: Financial Requirement, Page 41.

My understanding is - if you are going by the saving route, you won't have to talk about your income. UKBA will be fine with that. However, you will have to show that the required amount of money is in your account, untouched, for 6 months. And yes, you need to declare the source of the fund.