Proof of Funds £50,000 as a fixed deposit

personA · Post by **personA** » Wed Jun 26, 2013 10:26 pm

Hi Everyone,
I'm planning to apply for Tier1 Entrepreneur visa and i have gone through the document provided by UKBA. I just want to know whether can I show the proof of funds of £50,000 as a fixed deposit.

Thanks in Advance.
pappu.

Entrepreneur9 · Post by **Entrepreneur9** » Wed Jun 26, 2013 11:41 pm

No

personA wrote:Hi Everyone,
I'm planning to apply for Tier1 Entrepreneur visa and i have gone through the document provided by UKBA. I just want to know whether can I show the proof of funds of £50,000 as a fixed deposit.

Thanks in Advance.
pappu.

Dayyurite · Post by **Dayyurite** » Thu Jun 27, 2013 12:20 am

Yes, I have used it and they did not have any problem for the money being in fixed deposit.

They are not expecting us to just leave the money in the account with it will not earn any interest.

jmoha · Post by **jmoha** » Thu Jun 27, 2013 1:02 am

No,it should be readily available funds(liquid funds).

Entrepreneur9 · Post by **Entrepreneur9** » Thu Jun 27, 2013 1:10 am

So basically you are saying that your visa has been approved with the funds in a form of fixed deposit? Are you sure that was a UK entrepreneur visa?

Dayyurite wrote:Yes, I have used it and they did not have any problem for the money being in fixed deposit.

They are not expecting us to just leave the money in the account with it will not earn any interest.

personA · Post by **personA** » Thu Jun 27, 2013 7:12 am

Fixed deposit of £50000 proves that i have access to the funds right..???
and if the bank manager mentions that the funds are freely disposable in the UK without any objection then is it ok..???

Thanks

tier1in2014 · Post by **tier1in2014** » Thu Jun 27, 2013 9:24 am

No fixed deposits it clearly says in policy guide . If you read that guide you will get most of answers .

Dayyurite · Post by **Dayyurite** » Thu Jun 27, 2013 9:36 am

kapoorinusa wrote:No fixed deposits it clearly says in policy guide . If you read that guide you will get most of answers .

Where in policy guidance did they mention fixed deposit?

Dayyurite · Post by **Dayyurite** » Thu Jun 27, 2013 9:53 am

kapoorinusa wrote:No fixed deposits it clearly says in policy guide . If you read that guide you will get most of answers .

No fixed repost in the policy guid is for maintenance fund.
Nobody in this world would expect you to put that amount of money in the interest free account

personA · Post by **personA** » Thu Jun 27, 2013 10:48 am

kapoorinusa wrote:No fixed deposits it clearly says in policy guide . If you read that guide you will get most of answers .

I have gone through the guide several times and they did not mention anything about Fixed deposits, that is the reason i have raised this topic. It clearly says MONEY AVAILABLE ON MY NAME, so that can even be considered as a fixed deposit (i'm not sure).

personA · Post by **personA** » Thu Jun 27, 2013 10:51 am

Dayyurite wrote:Yes, I have used it and they did not have any problem for the money being in fixed deposit.

They are not expecting us to just leave the money in the account with it will not earn any interest.

How many days did it took to process your visa ?? have you shown the funds in UK or own country ??

Darvesh · Post by **Darvesh** » Thu Jun 27, 2013 12:03 pm

as long as funds are there in saving account then it shud be fine.

however funds in fixed deposit may not satisfy ukba requirement of availability of funds all time because fixed deposit money can not be accessible until after certain time period lapse.

if ur fixed deposit mature in 1 moth or 6 months or 1 year time then its mean u dont have access to funds if u applying before that time

Imran14 · Post by **Imran14** » Thu Jun 27, 2013 12:35 pm

@ Darvesh i agree with you that the fixed deposits are fixed for a duration of time but can broke anytime you wish to and the terms of interest will be voided hence you will not get the agreed rate of interest for that period, thats the end of the story for fixed deposit.

@PersonA I have a statement and an evidence of one of my close friend who have applied as fixed deposit and got all 75 points for funds. Its not just hot flushes I can scan both, Bank statement and Ukba letter with full points granted.

I wont acknowledge anything for you looking at the way UKBA behaves as you can see in many cases. Its all upto you to proceed as you wish.

Darvesh · Post by **Darvesh** » Thu Jun 27, 2013 3:24 pm

@imran14... if ukba didnt object the fixed deposit then its good news and great relief for those who have access to fixed deposit and now can use it as access funds

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Proof of Funds £50,000 as a fixed deposit

Proof of Funds £50,000 as a fixed deposit

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Proof of Funds £50,000 as a fixed deposit