The Canadian government takes the matter of ensuring that immigrants possess adequate funds to support themselves or their families seriously before establishing themselves in Canada. This requirement seeks to reduce the chance of newcomers encountering financial challenges, facilitating a smooth and effective integration into Canadian society.
By submitting proof of funds for Canada PR, applicants show their capacity to manage living expenses, housing, and other necessary expenditures during their early period in Canada. This guarantees that the government will serve as an asset to the nation’s economy and not a burden to society.
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What constitutes valid proof of funds in Canada
To obtain Canada PR via Express Entry (Federal Skilled Worker Program or Federal Skilled Trades Program), candidates must need to provide evidence of sufficient funds to demonstrate that they can financially support themselves and their family upon arriving in Canada.
Acceptable documents as Proof of Funds for Canada PR are:
- Authorized Bank Documents or Communication from Financial Entities.
- Savings or Term Deposit Accounts.
- Joint Accounts.
- Savings Fund / Pension Accounts
- Certain types of retirement savings (e.g. EPF in India)
- What is not allowed: Inaccurate property assessment
- Gold or ornaments.
- Ownership of vehicles (unless sold).
- Funds obtained through borrowing or loans
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 |
Is it possible to use FD as evidence of funds for Canada?
Fixed Deposits (FDs) are commonly recognized as an acceptable method of demonstrating financial resources for immigration to Canada. These deposits may be in the main applicant, the secondary applicant, or any individual accompanying the spouse or common-law partner. Incorporating FDs in your proof of funds shows financial stability and the capability to manage the costs related to your immigration process.
When adding Fixed Deposits to your proof of funds, ensure you have documentation that clearly specifies the origin of these funds. This document may include confirmations from the financial entity regarding the deposit sum, due date, and source of the funds. Proving the validity of your financial assets will enhance your application.
Alternative Acceptable Methods of Proof of Funds:
1) Financial Accounts:
Authorized bank documents displaying your account balance and transaction details.
2) Liquidity Investments:
Assets that can be quickly turned into cash demonstrate your financial capability.
3) Cash, Savings Accounts, and Additional Assets:
Available cash, savings accounts, and different types of assets all add to your overall financial position.
What is the necessary bank balance for a Canada PR visa?
The amount needed for a Canada PR visa is based on how many family members are with the main applicant. According to the most recent data, the subsequent sums required in Canadian Dollars (CAD) are:
Kindly locate the necessary funds/bank balance for Canada PR, revised for 2026.
| 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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