Fixed Deposit Certificates as Maintenance of Funds Proof

[Vedapon]

Hello to all who are involved in this challenging task of getting approval to work in the UK!

With regards to providing evidence of Maintenance of Funds, I'm informed by a UK migration company that we can provide proof with bank statements over a 3-month period or a letter from bank confirming availability of funds with the minimum required amount.

I hope those who have been successful in obtaining the Tier 1 (General) Migrant Visa can shed some light on the following queries :

a) Fixed Deposits
These are regarded as cash funds, ie funds which can be withdrawn at any time.
Will this be accepted by the Home Office authorities? Is it necessary to explain the nature of fixed deposits in the letter?

b) Transactions covering the three-month period
Is it absolutely necessary to provide detailed transactions over the 90-day period detailing some form of activity? What if the funds are untouched (as is the nature of fixed deposits)?

Thanks very much for your replies.

[zion77]

Based on my knowledge, if you wish to play safe:

put your maintenance fund in savings account and secondly, show regular transactions (debit/credit) over the 3 months period.

[saurabh_gyl]

a) No, Fixed Deposits are not considered. It has been clarified in the Updated Tier1 guidance.

b)About transactions, guidance says that your statement should show regular credits and debits, to make sure that your account is active.

I have a doubt here, do we need to give details about the credit/debit transactions of last 3 months.

[saurabh_gyl]

all member can see the following link to get access to the latest policy guidance. It clearly states that funds must be in cash. Other accounts or financial instruments such as shares, bonds, pension funds etc, regardless of notice period are not acceptable.
So I guess its better not to take any risk and go for savings account.

[mhu]

Hi I am from Bangladesh obtained TIER1 visa with Fixed Deposit on last month, I have show a Fixed Deposit Statements, Certified Copy of Fixed Deposit Paper, and A Letter from Bank saying that the money could be encash at any moment if client wants and there is no load against subject Fixed Deposit Amount.
Before submitting application I had a mail from BHC in Bangladesh that FDR is acceptable. You may also mail to BHC and could obtain a comments which could attached with the application.

Hello to all who are involved in this challenging task of getting approval to work in the UK!

With regards to providing evidence of Maintenance of Funds, I'm informed by a UK migration company that we can provide proof with bank statements over a 3-month period or a letter from bank confirming availability of funds with the minimum required amount.

I hope those who have been successful in obtaining the Tier 1 (General) Migrant Visa can shed some light on the following queries :

a) Fixed Deposits
These are regarded as cash funds, ie funds which can be withdrawn at any time.
Will this be accepted by the Home Office authorities? Is it necessary to explain the nature of fixed deposits in the letter?

b) Transactions covering the three-month period
Is it absolutely necessary to provide detailed transactions over the 90-day period detailing some form of activity? What if the funds are untouched (as is the nature of fixed deposits)?

Thanks very much for your replies.

[Vedapon]

I wish to clarify that fixed deposits certs are accepted as proof of maintenance. I just received my Tier 1 visa last week.
To substantiate the FD certs, I also submitted bank statements detailing activity of the FD account plus accompanying letters from the banks, just as a buffer.

It worked! Any further queries on this subject are most welcomed!

[Markie]

just a adding caveat on this fixed deposit...as long as the amount being referred to is withdrawal/accessible at any given without any notice period of withdrawing said amount.i.e. 7day / 21 days/30 days notice in advance. then you can use it as proof.

I wish to clarify that fixed deposits certs are accepted as proof of maintenance. I just received my Tier 1 visa last week.
To substantiate the FD certs, I also submitted bank statements detailing activity of the FD account plus accompanying letters from the banks, just as a buffer.

It worked! Any further queries on this subject are most welcomed!

[harryy]

Hi,

Can you please paste here the wording that you got from bank for FD. It will be helpful for all.

Thanks and Regards

I wish to clarify that fixed deposits certs are accepted as proof of maintenance. I just received my Tier 1 visa last week.
To substantiate the FD certs, I also submitted bank statements detailing activity of the FD account plus accompanying letters from the banks, just as a buffer.

It worked! Any further queries on this subject are most welcomed!

[Vedapon]

Harryy

Refer to the helpful sticky notes templates.

Letter from my local banks :
"This is to verify that xxxx has been maintaining an account with us, A/C No. : xxxxx since xxxx.

Just as simple as that! The letter is also backed up by bank statements plus the original fixed deposit cert.

The bank statements will easily verify the in-out activity.

In my country, our banks are not as complying as to just follow the guidelines stipulated. I had asked them to include details in the letter eg
"funds can be withdrawn at any time for personal use", (ie to differentiate between pensions/shares/bonds, etc) or "this account has been maintained for at least the last 3 months".
All this was not accepted as they insist they have their own format to follow.

It was very frustrating for me at that point as the banks refused to word the letter accordingly. I finally figured it is the numbers which provide the justification. The letter can be worded perfectly but if the basic minimum requirement of "not less than GBP 2,800 daily" is not met, we're just not ensuring that we cover our bases.
Good luck!

[Vedapon]

Hi Markie

Precisely. A fixed deposit is liquid - cash funds which is instantly accessible without any prohibition. Basically, anything that can be taken out at anytime and you obtain the actual principal sum that you've put in. The risk is that you may lose the interest earned on the principal if withdrawn before the maturity date. But the principal sum remains intact.

Unlike overdrafts, unit trusts/mutual funds or any other investment-related linked fund which has un-fixed returns ie principal cannot be guaranteed.

I doubt the banks are going to include a definition of FD in the letter. My banks didn't.

[kandasamy]

Hi,

For the maintenance fund I am showing my fixed deposit. So would you please share with the letter format which you got it from the bank. It will be great help for me.


Regards
Kandasamy

[quote="Vedapon"]I wish to clarify that fixed deposits certs are accepted as proof of maintenance. I just received my Tier 1 visa last week.
To substantiate the FD certs, I also submitted bank statements detailing activity of the FD account plus accompanying letters from the banks, just as a buffer.

It worked! Any further queries on this subject are most welcomed![/quote]

[evan]

Hi there,
i have enough fund for my application but in a local saving authirty in UAE called "National Bond", it can be cashed any time and that is mentioned in the certificate. Do you think it will work??? otherwise i need to cash it and deposit to my bank accout and wait for another 3 months!!!!
Please advice,,

Thanks

[kandasamy]

Hi All,

Good morning.

I got my Tier 1 general Visa 2 months back and I am planning to apply dependant visa for my spouse and kid.
For the maintenance fund I am showing my wife’s fixed deposit account. When I checked with UK visa help desk they told me that I can show the fixed deposit as proof of Maintenance fund and they asked me to produce the letter from the bank.
I checked with the bank and they are ready to give the letter, but they not have any predefined format for issuing the letter and I was asked to give the letter format.
So if anybody as the format of Fixed deposit letter from bank please share to me .

It is very urgent for me.


Regards
Kandasamy

[divasmmmm]

Hi,
I am in the process of appyling for HSMP TIER 1. Please confirm whether I can produce FIXED DEPOSIT as a prrof for FUNDS MAINTENANCE.

Thx

[rduk5252]

Dear all,
I am planning to submit my application on next week.
For Fund Maintanance, I am having FD in ICICI bank (1 May 2009 to 10 May 2010), I have taken letter from the Bank stating that these funds are held in my deposit account more 3 months and it can be withdraw at any point of time.
Please advice me, the above letter itself is enough or requires any statement from the bank. Since bank normally cannot give any statement for the FD. But I have "Deposit Confirmation Advice" document, will it be okay. (Original is missed out, bank itself sent me Duplicate copy by postal).

Please provide your valuable suggestion urgently.

Thanks & Regards,
RD.

[abhishek-m]

I am running into same problem where ICICI bank is not ready to give the FD certificate/letter in a format which we want to show mainenance funds. THey have their pre-worded letters which they can only give but they dont state a word about immediate encashment of the funds in FD.

Anyone, who got FD letter from ICICI bank? Pls let me know.

[kommsu]

Hi All,

I have applied on 08 mar 2010 with the below letter format and got my visa on 23Mar2010 .
Please find below format for FD letter from bank (which needs to be printed on Bank official letter head and stamped and signed by manager)

>>>> letter format starts>>> Fixed Deposit Certificate

Date:XX-Mar-2010

This is to certify that Mr XXXXXXX , S/o. XXXXXXX, Address XXXXX is having a fixed deposit for Rs. XXXXXX (so and so rupees only ) associated with A/c XXXX and details as under:

FDR No. NAME OF THE FDR HOLDER AMOUNT
FD No/XXX Mr. NAME Rs.XXXX

Date:XXX When started FD due on XXX (Mention when is the due date)

#### use below if FD is renewed start
(The same FDR is renewed on XXX date with No. FD XXXX )
Date:XXX When renewed period starts due on XXX (Mention when is the due date )
####use below if FD is renewed end

We confirm that balance amount is this FDR is Rs. XXXXX(so and so rupees only ) since XXX date as on XXXX(present date).This FDR can be encashable immediately on demand by the applicant. This FDR is under auto Renewal Scheme.

This certificate is issued on the specific request if the account holder and at no risk and cost to the issuing officer of the bank


Yours truly

Branch Manager
>>> letter format ends>>>>
Hope this format helps.

Thanks&Regards,
Suresh.K

[potalash]

Hi All,

I would like to thank Suresh.K, who has provided Fixed Deposit Certificate format for applying UK student visa

I have applied on 13 August 2014 with the below letter format and got my visa on 4th September 2014 .

Please find below format for FD letter from bank (which needs to be printed on Bank official letter head and stamped and signed by manager)

>>>> letter format starts>>> Fixed Deposit Certificate

Date:XX-Mar-2014

This is to certify that Mr XXXXXXX , S/o. XXXXXXX, Address XXXXX is having a fixed deposit for Rs. XXXXXX (so and so rupees only ) associated with A/c XXXX and details as under:

FDR No. NAME OF THE FDR HOLDER AMOUNT
FD No/XXX Mr. NAME Rs.XXXX

Date:XXX When started FD due on XXX (Mention when is the due date)

#### use below if FD is renewed start
(The same FDR is renewed on XXX date with No. FD XXXX )
Date:XXX When renewed period starts due on XXX (Mention when is the due date )
####use below if FD is renewed end

We confirm that balance amount is this FDR is Rs. XXXXX(so and so rupees only ) since XXX date as on XXXX(present date).This FDR can be encashable immediately on demand by the applicant. This FDR is under auto Renewal Scheme.

This certificate is issued on the specific request if the account holder and at no risk and cost to the issuing officer of the bank


Yours truly

Branch Manager
>>> letter format ends>>>>
Hope this format helps.