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The Definitive Guide to Visa Finances
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ksandeep.v2 Offline
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Post: #46
RE: The Definitive Guide to Visa Finances
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Hi all,

In my case, my dad's boss has agreed to provide the funds as a loan which I will repay later. Now, I cannot show this fellow as a sponsor because he's not my relative. I want to put the funds in my dad's account and show my dad as the sponsor.

The question is how do I transfer that big amount (fund is readily available) to my dad's account in a short period of time...?? To show my dad as my sponsor, without any hassle in the VISA process.

Thanks
Sandeep

http://www.edulix.com/unisearch/user.php?uid=10198

Admit: SUNY SB, USC
Rejects: Wisconsin Madison, Purdue, Georgia Tech, UCLA
04-06-2011 08:08 PM
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rishimittal2003 Offline
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Post: #47
RE: The Definitive Guide to Visa Finances
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Hey Guys,

I sent my financial documents at Eller Management School of Uni of Arizona and they immediately replied back stating that they do not consider Fixed deposit as a part of funds.

I don't understand why there should be such a variation is recognition of funds. VO of US accepts but US University do not.. Grrrrrrrrr..

04-07-2011 02:35 AM
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search_engine Offline
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Post: #48
RE: The Definitive Guide to Visa Finances
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Hi Guys,

If i show my Grandfather's PF amt of 16Lakhs..to fund my education
(I-20 amt is 32000$)
then what other additional docs i need to show wid them ?

04-10-2011 12:14 PM
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bhargavraj Offline
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Post: #49
RE: The Definitive Guide to Visa Finances
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If your grandfather is able to claim complete PF amount before you join the clg then only you can consider the total PF amount as your liquid cash otherwise it would be some percentage of the total PF amount by a given date. (Don't ask me the percentage Smile )

As far as your que concern you need to have a original passbook or Original statement for that PF account.

For more detail go here.

04-13-2011 05:03 PM
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abilashsagar Offline
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Post: #50
RE: The Definitive Guide to Visa Finances
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first of all , I appreciate the help u r doing to all,
I am thankful in advance

hello,
I got admission to USC fall 2011 for Master's in EE.
I had shown a bank statement of 23 lakhs by borrowing from relatives to suffice the i20 requirement, now that amount is no more there in the account.. I know doing this is wrong, but I dint hav any other means..

Now I have an I20 which states:
tuition: 27,698 $
living: 20,782 $

total: 48,480 $/year

how do I document my finances to show this amount during visa interview?

1. I have taken education loan of 20lakh (44,444$).
2. I have a property of worth 42lakh (93,333$) which against I'm taking education loan n upon this, there is a home loan of 9lakh (20,000$) and yet I can sell the property anytime at the worst case.

3. I have another 2 lakh hard cash (13,333 $).I can make that into Fixed deposit or put into Saving Account, but I'm only 2months away from the visa interview.So I think VO will doubt the existence of this 2lakhs in account in such short notice? This amount was given by my father to one of his friend as private loan. He has proof..

4. If i borrow money around 4lakhs from either dad's friend or relative( mom's brother), how do I document this? i dint show these ppl as my sponsors during i20 process

5. among the above 4questions, which contributes towards liquid and non-liquid funds , towards first year n second year?
(This post was last modified: 04-15-2011 10:23 AM by abilashsagar.)
04-15-2011 10:21 AM
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sagar18shah Offline
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Post: #51
RE: The Definitive Guide to Visa Finances
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nice 1...
04-15-2011 04:59 PM
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confused1 Offline
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Post: #52
RE: The Definitive Guide to Visa Finances
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My savings are 4-5L short for the first year I20 amount. I am gonna show the edu loan for the second year, which is slightly greater than second year I20.

1) Can this surplus amount of loan for second year makeup for the first year deficit ?

2) I have FDs which are on owned by both my mother and me but the money is mine. Do I have to take an AoS for this entire amount as well ?

05-02-2011 08:42 PM
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sari Offline
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Post: #53
RE: The Definitive Guide to Visa Finances
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My I20 amount is : 36k( approx 17lacs)
duration of course is 2 yrs

Now I have thought of showing the amount in the following way:

for 1st year: 20lacs loan + 2 lacs savings accnt ( My dad's)
for 2nd year: 10lacs savings accnt( Dad's)+ 2 lacs FD(Dad's) +5 lacs LIC

so total liquid fund that i am showing is: 34 lacs and Non-liquid: 5 lacs

Dad's annual income is 10 lacs.

1) my question is : is the division of funds rightly shown? Or is there something that I am missing? Am I doing any Mistake?

2) Our house has been evaluated for 80 lacs against which i have taken the loan of 20 lacs. So can I show the house as property asset?


kindly help me please.
regards,
sari

05-03-2011 04:28 PM
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s m Offline
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Post: #54
RE: The Definitive Guide to Visa Finances
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Hi,
my i20 amount fr 1 yr is $36000..so for MS of 2 yr duration do I need to show amount of $72000 in Visa Interview or only 36000 coz while requesing my i20 I had to show only $36000.

Secondly, if I show $36000 of 1st yr as amount in bank and for 2nd yr i show loan, am I supposed to show any papers proving that I have/would be getting loan for 2nd yr for sure i.e. do I need to get the loan for 2nd yr right away and show it now itself.

seniors pls guide

05-13-2011 07:08 PM
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perplexed Offline
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Post: #55
RE: The Definitive Guide to Visa Finances
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@ S m : You have to show i20 amount per year * No of years of study is the amount you have to show for VISA interview.

Yes you have to get the loan sanctioned and show it during the Visa Interview.

05-13-2011 11:09 PM
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nsuneja Offline
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Post: #56
RE: The Definitive Guide to Visa Finances
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Hey Guys...

I have got an admit from SUNY-SB.

Had a query regarding VISA. The financial support proof which we gotta show in the interview, the bank statements of my sponsor's (which I also showed as a proof of my financial ability to the SB university) should be sufficient rite ?

Do I necessarily need to have the finances against my name (for eg. a loan from a bank, FDs in my name etc.) for the same ?

Wanted to ask this because I heard from a source that having a loan against your name (rather than showing your parents finances etc.) makes the visa process smoother. Is that the case ?

Kindly let me know about the same.

05-14-2011 11:10 AM
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ankindian007 Offline
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Post: #57
RE: The Definitive Guide to Visa Finances
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Dear All,

I am in real trouble guys or may be I feel I am in too much trouble.
I have these somewhat complicated scenario or may be I am taking it as a complicated:

Scenario:

For first year for I-20 and VI I am thinking to build an amount of 20 Lakh (OSU).

Liquid: (First Year) Main sponsor (FYS) parents (L-1 + L-2)
L-1: Father + Mom Liquid fund in Bank : 12-13 Lakh
L-2: Rest my parents shall be taking a personal mortogae loan from bank(named B) of 10 lakh against property (named P worth 70 lakh).

Non-liquid: (Second Year) Second Year (SYS) sponsor my Uncle.
NL-1: 70 lakh property (shall be used to take personal loan)
NL-2: 6 lakh property
NL-3: 30 lakh property (purchased under loan which is being paid back currently)
NL-4: Education Loan 7.5 Lakh (shall surely get approved)

Basic Problem:
Q1- Is L-2 really liquid ?
Q2- Property (NL-1) mortgaged for personal loan hence wont be able to show its original docs except an official land evaluation doc (LED).
Are originals really necessary or LED would suffice ? I have seen many people taking loans against property what do such people
do as they must have kept original land docs to bank while getting approval letter from bank ?
Q3- If I show second year sponsor as my uncle then shall it be sufficient or is it necessary to show NL assets for second year and Liquid
assets for first year ? Can I show him a sponsor for complete MS of 2 year. Would it cause problem ?

Detailed description:

Now what my problem is that Bank (B) shall take our original property docs from us and is ready to give money (10 Lakh).
This money we shall show in our bank as liquid. Thus a total : 12-13 + 10 = 22-23 lakh liquid money for first year.

Now am I thinking correct that this money is liquid because as I see and as VO should see this money is liquid and present in bank statement also. But the problem I am facing is that :

Q4- First of all gettin 10 lakh suddenly or in installment today or may be in next 2 weeks OK as my VI shall be like in late june or july starting
keeping in ming that I have already got 13 lakh from quiet a long time (5-6 month) in parents bank in liquid? Is it a stict rule that money has
to be there atleast for 6 months ?

Q5- I wont be able to show the original property (P) docs as they shall be kept by the bank to give the loan ?
I also think that showing such big property is good for a reason to come back and as proof of fin for 2nd year. Is it so ?

My solution: I shall get the property evaluation docs in original if not the property docs (as bank will take it) ?
What if along with LED I also get an official document ready which proves that our NL-1 Property is worth 70(present value)- 10(loan
taken by mortogaing it) = 60 Lakh ?

Q6- VO might ask that where did you get the 10 lakh from ? Are VOs that much skeptic and shall surely ask for explanation for this 10 lakh?
Then to be safe I have to say that we got a personal loan. Now wont the VO take it as a loan and not a liquid asset. (Though this loan is
more than approved as we are having the money in bank in liquid)

My Solution: I might put this 10 lakh in installments like 3.5 + 3.5 + 3 lakh in 10 days gap. Will I still be questioned as now there is no bulk
money transfer ?


Sorry guys I know I am a bit too detailed but I could not terse it more other wise it would end in miscommunication.
I really need help guys. Please try to answer my question (Q1-Q6) and rectify or criticize the solutions I have proposed.
I have kind of provided all the parameters now I am looking if some one could suggest a permutation of them for a way out.

I shall be deeply obliged to all of you. Seniors please help me out.
Thanks in advance. Smile Smile

05-14-2011 07:39 PM
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Aravind_PSG Offline
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Post: #58
RE: The Definitive Guide to Visa Finances
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Hi,
I had a few questions in VISA finances... I have been working for the past three years and i have made investments along the same...
though my father is my sponsorer for higher studies, can i shown my investments in non liquid assets?
Also can i show the land properties in my name?

Awaiting ur reply, please help me out in this Sad

Aravind
Hi
My brother is working in US. Can i show my brothers bank account statement as liquid asset proof (as second sponsorer)
If i show that would it be requried to get an affidavit of support from him? also would it poke any questions about his stay in US? he is there under H1b VISA...

If this cannot be done, then he will be transferring funds to his account here in India. My dad and my brother are joint holders of the account, so i am planning to retrieve that bank statement for past mnths

Plzzz help me with this .. confused

Thanks a lot for your help

Aravind
(This post was last modified: 05-17-2011 01:39 PM by Aravind_PSG.)
05-17-2011 01:19 PM
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perplexed Offline
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Post: #59
RE: The Definitive Guide to Visa Finances
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1. What type of investments are you talking about?
2. Yes you can show your brother as sponsor. You will need supporting documentation from him.

05-17-2011 01:56 PM
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Aravind_PSG Offline
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Post: #60
RE: The Definitive Guide to Visa Finances
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Investments that i was indicating here are the IT investments made by me during the past three years in Mutual funds, LIC, PF etc..

Could you please elaborate on the documents that would be requried if am showing my brothers bank account as proof??

Thanks a lot

Aravind
Also can i shown my Bank statement for Liquid proof ??

Thanks for ur support

Aravind
(This post was last modified: 05-17-2011 02:06 PM by Aravind_PSG.)
05-17-2011 02:02 PM
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