maintaneance funds - will a fixed deposit be accepted?

[mutu]

Hello there,
I am in the UK and extending my visa under the tier 1 (general) hsmp scheme.I have two questions,
1.I have not got the minimum requirement of 800 pounds for about 15 days in the 3 month period required for.How strict are the case workers with regards to that?
2.Is an Fixed deposit considered as cash funds?
Many thanks.
Raj.

[nirmal_kishore]

Hi Mutu

The answers

1. They are VERY STRICT and go by the book. Not a penny less than 800 not even for 1 day..
2. I think some of the previous posts indicate that fixed deposits are 'not accessible' so they can't be used. But wait for other experts to answer that.

Good luck
Nirmal

[Markie]

Hello there,
I am in the UK and extending my visa under the tier 1 (general) hsmp scheme.I have two questions,
1.I have not got the minimum requirement of 800 pounds for about 15 days in the 3 month period required for.How strict are the case workers with regards to that? do not go below the min amount specified even for day on a 3-month period...2.Is an Fixed deposit considered as cash funds? Are you referring to fixed amount deposit account? does it require any notice periods - advice when you need to get your money from your account? If it is not requiring notice to take out money then it is okay...Many thanks.
Raj.

[mutu]

Thanks Nirmal and Markie,
So say if i open a joint account with a friend in India now.Would that be okay or will they want to know when the joint account was opened?Cheers.

[mvent00]

Yes, joint account can be used. But the account must conatin Tier 1 applicant's name, in addition to one or more member names.

Thanks Nirmal and Markie,
So say if i open a joint account with a friend in India now.Would that be okay or will they want to know when the joint account was opened?Cheers.

[Vedapon]

Fixed deposit certificates are allowed as proof of maintenance fund. FD = cash = liquid funds and can be withdrawn at any time.

I used my FD certs to apply for Tier 1 last year and it was accepted. Both of them. The photocopies of my FD certs were not returned to me.

Just ensure your FD account is not tied up to a mortgage, overdraft facility etc and that it can be withdrawn immediately.

For extra measure, get your bank to update your FD certificate every month for the specified time period.

[ChetanOjha]

Fixed deposit certificates are allowed as proof of maintenance fund. FD = cash = liquid funds and can be withdrawn at any time.

I used my FD certs to apply for Tier 1 last year and it was accepted. Both of them. The photocopies of my FD certs were not returned to me.

Just ensure your FD account is not tied up to a mortgage, overdraft facility etc and that it can be withdrawn immediately.

For extra measure, get your bank to update your FD certificate every month for the specified time period.

Yes that's true. Get a letter from your bank confirming your FD account and period. Also maintenance account should not go below minimum required amount.