UK Tier 1 (General) maintenace fund

[gauravs9]

Hi All,
I’m going to apply for HSMP within UK, but I had few doubts which is really making me confused, can any of you please help me:

1- As a part of maintenance fund, do they consider Fixed deposit (FD) as well, as I have HDFC sweep in FD in my india account.

2- For the maintenance fund, I need to show 4000£ i.e. 800 for me & 1600 + 1600 for my wife n child. Now is it possible that I show this amount in different account i.e. 1500 in my account and 2500 in my wife account, but I’m not a joint account holder in my wife’s account.

Please reply asap, its really urgent.

[layman]

For 2 , see #40 of dependant policy guidance

40. If the Tier 1 Migrant is outside the United Kingdom or has been present in the United Kingdom for less than 12 months, each family member of the Tier 1 Migrant must show that he/she, the Tier 1 Migrant, or (for children) his/her other parent who is also legally present in the United Kingdom has at least £1600 to support him/her; this is in addition to any funds the Tier 1 Migrant needs to prove he/she has enough money to support himself/herself.

My interpretation is that funds in wife's account can satisfy her maintenance criteria. Wait for others to confirm though.

For 1, #210 in policy guidance says

210. Evidence must be in the form of cash funds held in an account (this includes savings accounts and current accounts even when notice must be given). Other accounts or financial instruments such as shares, bonds, pension funds etc, are not acceptable, regardless of notice period.

Dont know whether FD falls under other financial instruments.

[gauravs9]

Thanks Layman.
Even my interpretation was same, but just need confirmation.
Regarding FD, still I had doubt. Please help.

[mvent00]

For 2 , see #40 of dependant policy guidance

40. If the Tier 1 Migrant is outside the United Kingdom or has been present in the United Kingdom for less than 12 months, each family member of the Tier 1 Migrant must show that he/she, the Tier 1 Migrant, or (for children) his/her other parent who is also legally present in the United Kingdom has at least £1600 to support him/her; this is in addition to any funds the Tier 1 Migrant needs to prove he/she has enough money to support himself/herself.

My interpretation is that funds in wife's account can satisfy her maintenance criteria. Wait for others to confirm though.

For 1, #210 in policy guidance says

210. Evidence must be in the form of cash funds held in an account (this includes savings accounts and current accounts even when notice must be given). Other accounts or financial instruments such as shares, bonds, pension funds etc, are not acceptable, regardless of notice period.

Dont know whether FD falls under other financial instruments.

FD falls under current accounts, you should get a letter from bank, stating that since when you maintained these deposits, what was the minimum deposited value during last three months, and that you can liquify these any time on your request. You can search examples of this kind of letters in this forum. And your dependents can use their personal bank statements to show their maintenance funds.

[qakapil]

Hi,

I am going to show the maintenance fund which is there in my FD account.
However, this is a joint account with my father and my father is the primary account holder.
Is it okay if he is the primary account holder of the FD account ?


Cheers !
Kapil.

[geriatrix]

Thanks Layman.
Even my interpretation was same, but just need confirmation.
Regarding FD, still I had doubt. Please help.

Check sticky.


regards

[mvent00]

Hi,

I am going to show the maintenance fund which is there in my FD account.
However, this is a joint account with my father and my father is the primary account holder.
Is it okay if he is the primary account holder of the FD account ?

Yes, it is fine.


Cheers !
Kapil.