Proof of funds Canada


The Canadian government is very serious about ensuring that immigrants have sufficient funds to support themselves or their families before settling in Canada. This requirement aims to minimise the likelihood of newcomers facing financial difficulties, ensuring a positive and successful integration into Canadian society.

By providing proof of funds for Canada, applicants demonstrate their ability to cover living expenses, accommodation, and other essential costs during their initial stay in Canada. This ensures that the government will not be a liability to society but rather an asset to the country's economy.



Please find the funds/bank balance required for Canada PR.
 
Number of Members Funds in CADFunds in Indian Rs. (if 1 CAD = Rs. 65)
 1 $15,263 Rs. 9,92,095
 2 $19,001 Rs. 12,35,065
 3 $23,360 Rs. 15,18,400
 4 $28,362 Rs. 18,43,530
 5 $32,168 Rs. 20,90,920
 6 $36,280 Rs.  23,58,200
 7 $40,392 Rs.  26,25,480
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  • What is acceptable proof of funds in Canada?

    To secure Permanent Residency (PR) through Express Entry (Federal Skilled Worker Program or Federal Skilled Trades Program), applicants must present proof of funds to demonstrate they can support themselves and their family after arriving in Canada.
     

    Canada Proof of Funds Acceptable Documents Are:

    1. Official Bank Statements or Letters from Financial Institutions.
    2. Savings or Fixed Deposit Accounts.
    3. Joint Accounts.
    4. Provident Fund / Retirement Accounts
    5. Some forms of retirement savings (e.g. EPF in India)

    What is not accepted: Incorrect property valuation

    1. Gold or jewellery.
    2. Vehicle ownership (unless liquidated).
    3. Borrowed funds or loans

    Can we show FD as proof of funds for Canada?


    Fixed Deposits (FDs) are widely accepted as a valid form of proof of funds for immigration to Canada. These deposits can be in the name of the primary applicant, secondary applicant, or any person accompanying the spouse or common-law partner. Including FDs in your proof of funds demonstrates financial stability and thе ability to cover the expenses associated with your immigration journey.

    When including Fixed Deposits in your proof of funds, be prepared to provide documentation that clearly outlines the source of these funds. This documentation may consist of statements from the financial institution confirming the deposit amount, maturity date, and the origin of the funds. Demonstrating the legitimacy of your financial resources will strengthen your application.


    Other Acceptable Forms of Proof of Funds:

    1) Bank Accounts:
    Official bank statements showcasing your account balance and transaction history.


    2) Cash-ablе Invеstmеnts:
    Investments that can be easily converted to cash provide evidence of your financial capacity.


    3) Cash, Savings Accounts, and Other Assеts:
    Cash on hand, savings accounts, and various other forms of assets contribute to your overall financial standing.

     

    How much bank balance is required for Canada PR visa?

    The funds required for a Canada PR visa are determined based on the number of family members accompanying the primary applicant. As of the latest available information, the following amounts are needed in Canadian Dollars (CAD):

    Please find the funds/bank balance required for Canada PR, updated on 7 July 2025.


     

    Number of Members Funds in CADFunds in Indian Rs. (if 1 CAD = Rs. 65)
     1 $15,263 Rs. 9,92,095
     2 $19,001 Rs. 12,35,065
     3 $23,360 Rs. 15,18,400
     4 $28,362 Rs. 18,43,530
     5 $32,168 Rs. 20,90,920
     6 $36,280 Rs.  23,58,200
     7 $40,392 Rs.  26,25,480


    If more than 7 people, for each additional family member, $ 4112

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    Mr. Satish

    Proof of funds Canada:  FAQ

    Learn about the financial requirements and how to demonstrate your financial capability when applying for Canadian permanent residency.

    Q. Proof of funds Canada PR
    Yes, proof of funds is mandatory for most PR pathways, including Express Entry and many Provincial Nominee Programs (PNPs). The required amount depends on your family size, with minimums starting at CAD 13,310 for single applicants and increasing for families.
    Q. Proof of funds Canada visitor visa
    Not always. If your stay is under 6 months and you demonstrate strong ties to your home country and sufficient finances for your trip, it may not be required. However, for extended stays, limited travel history, or self-supporting visitors, proof of funds is often necessary. Check official immigration websites for specific requirements based on your situation.

    Q. Proof of funds Canada Provincial Nominee

    Requirements vary by program. Some PNPs might have lower minimums than Express Entry, while others have higher amounts or different acceptable forms of proof. Research the specific PNP you're interested in for accurate information.
    Q. Proof of funds Canada Express Entry
    Express Entry requires minimum amounts based on family size, starting at CAD 13,757 for single applicants. More funds improve your chances of receiving an Invitation to Apply (ITA).
    Q. Proof of funds Canada 2023
    This information is current as of December 2023. Requirements and minimum amounts can change, so always consult official sources or immigration professionals for the latest updates before applying.
    Q. Acceptable proof of funds Canada
    Common options include:
    • Bank statements: Official documents showing your account balance and transaction history.
    • Fixed deposits (FDs): Documents confirming fixed deposits with a recognized financial institution.
    • Guaranteed Investment Certificates (GICs): Certificates issued by a Canadian financial institution confirm your investment of a specific amount.
    • Proof of income: Pay stubs, employment letters, or tax documents demonstrating your regular income.
    • Sponsorship undertaking: If sponsored, a letter from your sponsor outlining their commitment to financial support and evidence of their financial capacity.