Urgent!! Maintenace funds query: Bank A/c linked 2 loan A/c

[kunmun23]

Hi All,
I have been a silent observer on this forum. I am planning to apply for Tier1 General from India as soon as I have this final hurdle sorted out.

Background
I hold a Citibank current account and a linked Citibank home loan account under a "SmartHome" scheme. What this means is whenever I make a deposit in my current account, it is swept into my loan account (to give me a benefit on the interest part of my home loan account.); However, the funds are available for me to withdraw at anytime.

As a result, my current account does not show the required maintenance funds. But, my home loan account shows these liquid funds as "Line Amount". A statement of the line amount has a footnote stating that these are the funds withdrawable by the customer.

After much persuasion, I have been able to procure a letter from Citibank that states that "line amount is withdrawable balance" and that the line amount in my LOAN ACCOUNT has not dropped below Rs.250000/- (statement date exchange rate was Rs.84.xx so I am above GBP2800).

Along with the above mentioned letter, I am also trying to get a daily line amount statement for the last 90 days.

I am also including the 90 day Current account statement which shows the date these funds entered my Citibank current account and were swept in to my loan account.

I am also including a letter from the bank where these funds were held in a fixed deposit before the FD matured and I moved the funds to Citibank. This letter too states that the funds were available for withdrawal at any time. (However, this letter is more than 7 days old).


My questions :

1. Would BA accept this as sufficient proof for maintenance funds ?

2. What other explanation I can give in my covering letter to strengthen my case?

3. I am concerned about the following statement on
http://www.ukba.homeoffice.gov.uk/worki ... intenance/

Evidence must be in the form of cash funds. Other accounts or financial instruments for example, shares, bonds, pension funds or agreed overdraft facilities are not acceptable as evidence of your maintenance (funds).

4. Would the case officer understand that this is not an overdraft facility...i.e. I am not trying to show funds available to me as a loan from the bank but rather actual liquid funds that I have deposited in the account?

5. Should I get a letter from Citibank explaining the SmartHome scheme or my explanation in the covering letter suffice? It has really been a pain getting statments/letter from Citibank after threatening to end my relationship with Citibank and escalating my case through some people I know in Citibank. Even if Citibank agrees to issue another letter with the above explanation, by the time I get it, my current letter would become more than 7 days old.

Please advise, should I go ahead with my application or use some other form of evidence for maintenance funds....if so, what evidence ??

Please reply ASAP as my 7 day clock started ticking today....

Thanks in advance !!

[Snoozles]

Hey Kunmun23,

Sorry, but I do not think that they will accept it as maintenance.

You should keep it in cash, and if you show them those statements, it will just show how much you still owe in your home country.

I really do think that they will reject your application.

That's my 2 cents.

Good luck.

[kunmun23]

Thanks Snoozles.

I do not want to wait another 90 days by transferring funds to another account that would give me a simple statements.

Would it help if I could get a modified letter from the bank? Something like,

"This is to certify that Mr. XXX is maintaining Rs.xxx cash funds with us as on 11-Oct-2008. We further certify that the available withdrawable cash funds have not dropped below Rs.300,000/- since 27-Jun-2008."


OR I get an additional letter from the bank which states,

"This is to certify that Mr. XXX holds a Current A/c No.xxxxxxx and a linked Home Loan A/c No. xxxxx with us. Any deposits into the Current Account are swept-in the Home Loan A/c as Line Amount. The Line Amount represents the cash funds available for withdrawal by Mr. XXX"


Option 1 above is harder to get but I think it should suffice the required criteria.

Option 2 above is easier to get but would need to be supported with the current letter I have. I feel these multiple letters may confuse the Case Officer.

[Snoozles]

Thanks Snoozles.

I do not want to wait another 90 days by transferring funds to another account that would give me a simple statements.

Would it help if I could get a modified letter from the bank? Something like,

"This is to certify that Mr. XXX is maintaining Rs.xxx cash funds with us as on 11-Oct-2008. We further certify that the available withdrawable cash funds have not dropped below Rs.300,000/- since 27-Jun-2008."


OR I get an additional letter from the bank which states,

"This is to certify that Mr. XXX holds a Current A/c No.xxxxxxx and a linked Home Loan A/c No. xxxxx with us. Any deposits into the Current Account are swept-in the Home Loan A/c as Line Amount. The Line Amount represents the cash funds available for withdrawal by Mr. XXX"


Option 1 above is harder to get but I think it should suffice the required criteria.

Option 2 above is easier to get but would need to be supported with the current letter I have. I feel these multiple letters may confuse the Case Officer.

Hey,

Option 1 is certainly the better option. But if you are going to apply for a Tier 1 and also include the bank statements for your salary purposes, you may run into trouble as your bank statements will tell a different story than your letter.

If you do choose to go with Option 1, you must understand that you take a huge risk. If they find out that you did not have the money in you account, you may get a ban for 10 years as it may be seen as fraudulent. - I would not have taken the chance. We all want to go to the UK as soon as possible, but I think in the long run you really do not want to make short term mistakes and judgment errors.

My advice to you is to deposit money into your account as soon as possible, and keep it in your account for 3 months. - A three month delay is better than a 10 year ban which will affect every single visa application from now on.

In the mean while you may try to go with option 2, but I do not think that you have a good chance to get a visa - but at least you will not be banned with this option. I would have waited for 3 months.

[kunmun23]

Hi Snoozles,
Thanks for your response.

Age : No points claimed

UK Experience : No points claimed.

Education : 35 points (Masters Degree from US....degree in NARIC)

Previous Earnings : 45 points

I do not have any issues for the Previous Earnings part. My salary account is with a separate bank (ICICI). I have the print of electronic salary slips signed and stamped from my employer, my employment appointment letter, and the bank statement from ICICI for my salary account showing all the salary transfers that I am claiming. Two different sources and I'm good to go on that front.....

English Requirement : 10 points (already met since my higher education was in US)

Maintenance Funds : 10 points ...this is my only trouble area...inspite the fact that I have cash funds, I am finding it hard to show it as per the requirement.

I guess Option 1 is the better option without the risk that you mentioned. Frankly I am not trying to go around the rules to get my case approved...I have every thing required ....but on the maintenance funds given the linked home loan account part, I am somehow not able to figure what would be the best way to present the docs...

[kunmun23]

I think Option1 above shall meet the bold criteria and I should be fine :

Documentary evidence for Maintenance (Funds)

Evidence must be in the form of cash funds. Other accounts or financial instruments such as shares, bonds, pension funds, etc., regardless of notice period are not acceptable. If you wish to rely on a joint account as evidence of available funds, you must be named on the account along with one or more other named individual.
You should provide one or more of the following:
• personal bank statements covering a period of 3 months, dated no more than 7 days prior to the date you submit your application. The balance should not fall below the required minimum at any time during the 3 month period;
• savings account pass book/s covering a period of 3 months ending with a date no more than 7 days prior to the date you submit your application. The balance should not fall below the required minimum at any time during the 3 month period;
• letter from your bank confirming level of funds and that they have been held in the bank account for at least 3 months ending with a date no more than 7 days prior to the date you submit your application. The balance should not fall below the required minimum at any time during the 3 month period. This must be an original document, on the official letter-headed paper or stationery of the organisation and bear the official stamp of that organisation;

[blimpyboy2]

I am in the same situation. How did this turn out for you ?

[kunmun23]

I am in the same situation. How did this turn out for you ?

I decided it was too complicated to explain the situation to the authorities.
So, I decided to transfer my funds to a regular fixed deposit and wait for 90 days.

Thereafter, I applied from Chandigarh on 2nd March 09 and got my stamped passport on 7th March 09. The date of stamping was 6th March 09 !! 4 Days flat !!

Now just waiting for the job market to open up so that I can get a good break.