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 CAD | Funds 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 |
What is acceptable proof of funds in Canada?
Canada Proof of Funds Acceptable Documents Are:
- Official Bank Statements or Letters from Financial Institutions.
- Savings or Fixed Deposit Accounts.
- Joint Accounts.
- Provident Fund / Retirement Accounts
- Some forms of retirement savings (e.g. EPF in India)
What is not accepted: Incorrect property valuation
- Gold or jewellery.
- Vehicle ownership (unless liquidated).
- 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 CAD | Funds 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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Q. Acceptable proof of funds Canada
- 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.
