Tier 1 -Maintenance Funds - Info needed

[dilip_gem]

Hi there,
I'm planning to apply for Tier 1 visa from India. I've few queries regarding Maintenance Funds. The home office site says we need to Maintenance 2800 pounds for 3 months in our personal account. I've maintained funds in 2 banks (cumulative amount is more than 2800). Is that OK? I mean is it fine if the applicant's maintained funds are in more than one bank account ??

Bank X - 5 term deposits amounting 1.95 lacs.
Bank Y- 50k in savings account.

I would like to know can I show the cumulative amount which would be more than 2800. I can arrange following

- letters from Bank X stating that I've maintained 1.95 lacs through 5 term deposits, which can be liquidated without giving a notice. (deposits made more than 90 days back). Also the letter would list out the deposit receipt numbers, dates etc..
( I shall attach those original deposit receipts while applying for the visa)

- letter from Bank Y stating that I've maintained 50k in savings account for the last 90 days.
( I shall attach the Savings a/c statement for the said period while applying for the visa)

- letter from a chartered accountant giving the final tally of my balances and conversion amount in GBP.

- Covering letter giving all the details about the maintenance of funds


Is the above document fine for showing the maintenance of funds?


Thanks and Regards,
Dilip

[vnvijay]

Hi,

Would like to know from where did u info, regarding Maintenance funds should be for 2 months. As far as I know it should be for 3 months or 90 days. Not sure if the information which your proving is an updated on.

Also with regards to your amount in two bank accounts, it really depends upon your covering letter! How clearly you explain your covering letter stating for the maintenance funds VFS should consider two bank statements.

Let me know where did get two months information on Funds.

VJ

Hi there,
I'm planning to apply for Tier 1 visa from India. I've few queries regarding Maintenance Funds. The home office site says we need to Maintenance 2800 pounds for 2 months in our personal account. I've maintained funds in 2 banks (cumulative amount is more than 2800). Is that OK? I mean is it fine if the applicant's maintained funds are in more than one bank account ??

Bank X - 5 term deposits amounting 1.95 lacs.
Bank Y- 50k in savings account.

I would like to know can I show the cumulative amount which would be more than 2800. I can arrange following

- letters from Bank X stating that I've maintained 1.95 lacs through 5 term deposits, which can be liquidated without giving a notice. (deposits made more than 90 days back). Also the letter would list out the deposit receipt numbers, dates etc..
( I shall attach those original deposit receipts while applying for the visa)

- letter from Bank Y stating that I've maintained 50k in savings account for the last 90 days.
( I shall attach the Savings a/c statement for the said period while applying for the visa)

- letter from a chartered accountant giving the final tally of my balances and conversion amount in GBP.

- Covering letter giving all the details about the maintenance of funds


Is the above document fine for showing the maintenance of funds?


Thanks and Regards,
Dilip

[dilip_gem]

I'm sorry its 3 months typo..Thanks

Hi,

Would like to know from where did u info, regarding Maintenance funds should be for 2 months. As far as I know it should be for 3 months or 90 days. Not sure if the information which your proving is an updated on.

Also with regards to your amount in two bank accounts, it really depends upon your covering letter! How clearly you explain your covering letter stating for the maintenance funds VFS should consider two bank statements.

Let me know where did get two months information on Funds.

VJ

Hi there,
I'm planning to apply for Tier 1 visa from India. I've few queries regarding Maintenance Funds. The home office site says we need to Maintenance 2800 pounds for 2 months in our personal account. I've maintained funds in 2 banks (cumulative amount is more than 2800). Is that OK? I mean is it fine if the applicant's maintained funds are in more than one bank account ??

Bank X - 5 term deposits amounting 1.95 lacs.
Bank Y- 50k in savings account.

I would like to know can I show the cumulative amount which would be more than 2800. I can arrange following

- letters from Bank X stating that I've maintained 1.95 lacs through 5 term deposits, which can be liquidated without giving a notice. (deposits made more than 90 days back). Also the letter would list out the deposit receipt numbers, dates etc..
( I shall attach those original deposit receipts while applying for the visa)

- letter from Bank Y stating that I've maintained 50k in savings account for the last 90 days.
( I shall attach the Savings a/c statement for the said period while applying for the visa)

- letter from a chartered accountant giving the final tally of my balances and conversion amount in GBP.

- Covering letter giving all the details about the maintenance of funds


Is the above document fine for showing the maintenance of funds?


Thanks and Regards,
Dilip

[vnvijay]

ok , dnt make such small mistakes in Tier1 application

I'm sorry its 3 months typo..Thanks

Hi,

Would like to know from where did u info, regarding Maintenance funds should be for 2 months. As far as I know it should be for 3 months or 90 days. Not sure if the information which your proving is an updated on.

Also with regards to your amount in two bank accounts, it really depends upon your covering letter! How clearly you explain your covering letter stating for the maintenance funds VFS should consider two bank statements.

Let me know where did get two months information on Funds.

VJ

Hi there,
I'm planning to apply for Tier 1 visa from India. I've few queries regarding Maintenance Funds. The home office site says we need to Maintenance 2800 pounds for 2 months in our personal account. I've maintained funds in 2 banks (cumulative amount is more than 2800). Is that OK? I mean is it fine if the applicant's maintained funds are in more than one bank account ??

Bank X - 5 term deposits amounting 1.95 lacs.
Bank Y- 50k in savings account.

I would like to know can I show the cumulative amount which would be more than 2800. I can arrange following

- letters from Bank X stating that I've maintained 1.95 lacs through 5 term deposits, which can be liquidated without giving a notice. (deposits made more than 90 days back). Also the letter would list out the deposit receipt numbers, dates etc..
( I shall attach those original deposit receipts while applying for the visa)

- letter from Bank Y stating that I've maintained 50k in savings account for the last 90 days.
( I shall attach the Savings a/c statement for the said period while applying for the visa)

- letter from a chartered accountant giving the final tally of my balances and conversion amount in GBP.

- Covering letter giving all the details about the maintenance of funds


Is the above document fine for showing the maintenance of funds?


Thanks and Regards,
Dilip

[sri_sunny]

I am sure it should be in the savings account as cash and no other source is accepted

[dilip_gem]

OMG !! I will hv to wait for 90 more days !! I'm going to close my all term deposits and put the money into savings a/c. Dont wanna take any risk. Home office is changing the rules every day. They want chefs and not engineers !! Hope the rules dont change till Jan 2009

I am sure it should be in the savings account as cash and no other source is accepted

[sri_sunny]

And ensure to get a letter from bank manager that you held deposits and closed. BHC is keen to know, where you got this money from?

[Mohanfromblr]

Hi sri_sunny & others
Please dont get confirmed that any source other than savings Account is not accepted. If you are a salary Account holder, make a note that most of the banks are offering a Sweep-In/Sweep-Out Fixed Deposit Account that is associated with the Fixed deposit account. The amount gets circulated between these 2 accounts to/fro depending on certain limit fixed with savings account.
Ex. some body has shown INR 2,50,000/- split into Fixed Account for Rs.2,30,000/- & INR 20,000 in Savings account & HIS APPLICATION IS SUCCESSFUL.
In his case he submitted only Bank Statements which clearly showed that he made a sweep transfer from savings account to FD Account. He even didnt submit a letter from the Bank
Please, when writing about the maintenance fund, use all the exclusive & exhaustive conditions as this topic has already created a flutter among our folks

[Mohanfromblr]

Hi sri_sunny & others
Please dont get confirmed that any source other than savings Account is not accepted. If you are a salary Account holder, make a note that most of the banks are offering a Sweep-In/Sweep-Out Fixed Deposit Account that is associated with the Fixed savings account. The amount gets circulated between these 2 accounts to/fro depending on certain limit fixed with savings account.
Ex. some body has shown INR 2,50,000/- split into Fixed Account for Rs.2,30,000/- & INR 20,000 in Savings account & HIS APPLICATION IS SUCCESSFUL.
In his case he submitted only Bank Statements which clearly showed that he made a sweep transfer from savings account to FD Account. He even didnt submit a letter from the Bank
Please, when writing about the maintenance fund, use all the exclusive & exhaustive conditions as this topic has already created a flutter among our folks

[Mohanfromblr]

Hi
Sorry for the 2 postings. It showed Error thats why I posted again.
Also note that in the 4rth line, I mean "Savings Account". Its not Fixed or Fixed Savings Accounts as written in the 2 posts

[dilip_gem]

Thanks for the info Mohan. But I already transferred my money to one a/c yesterday. I shall wait for 90 days more

Hi
Sorry for the 2 postings. It showed Error thats why I posted again.
Also note that in the 4rth line, I mean "Savings Account". Its not Fixed or Fixed Savings Accounts as written in the 2 posts

[sri_sunny]

Hey MohanfromBLR,

You are right in one view. If you have a sweeping account, remind you that it is not like conventional FD where you need to walkin to your branch to get it closed. The 2-in-1 account is your cash would be in the form of liquid cash and ready to use while earning some interest more than the normal SB interest.. Some banks allow you to call/ go online & transfer into your normal account. However, for such accounts banks do provide 2 statement of accounts. Pl do not compare or call this as FD.

[hhsmp]

I have Certificate of Deposit account as my maintenance requirement for Tier-1? Amount was deposited 4 months back in October and money is fixed since then. Certificate got matured on 8th Feb once and was re-newed after that. Is that fine for my maintenance requirement?

Because the other account which i opened with this COD account is the one where the profit got transfered the time COD got matured.

[hhsmp]

I have Certificate of Deposit account as my maintenance requirement for Tier-1. Amount was deposited 4 months back in October and money is fixed since then and is ofcourse 2800 plus GBP. Certificate got matured on 8th Feb once and was re-newed after that, the profit got transfered to other current account opened the same time with COD.
Is that fine for my maintenance requirement?

Rgds,
hhsmp