Get Proof Of Funds in Minutes or latest 24-48 hours. Yes, IU Schools offers Proof Of Funds to those who are running short of it at a low rate.
Proof Of Funds (POF) is important for visa approval. So, no matter the country you wish to study in, be it UK, Canada, USA or Germany, you can easily access POF on our platform.
In this post, I will guide you step by step on how to get a full Proof Of Funds (POF) at a low rate in Nigeria. But before then, I would like us to look at how POF works. You need to be fully aware before going into any such contract.
How Does Proof Of Funds Work?
Proof of Funds refers to money sent into your account for a specified period of time to enable the embassy verify that you are financially capable of traveling to another country.
This involves presenting your bank statement which must be at least 28 days old and your last transaction on the same account must not be older than 31 days.
This simply means that you must have had the required amount of money in your account for at least 28 days and your last transaction on that particular account must not be older than 31 days. However, some embassies have different policies regarding this.
How much can I get as Proof Of Funds? You can get any amount you want. You can get as low as 1M and you can also get as high 200,000,000 Naira or above depending on what you request.
How long would the money be in my account? The money can be in your account for as long as you want it. It could be 1 month or more. However, extra charges apply.
Who Funds my Account? IU Schools works with several financial institutions (banks) to get this done for students who are in need of it. This simply means that IU Schools gets your account funded through a financial institution.
Can I Use the Funded Money? No, you cannot use the money transferred into your account as Proof Of Funds. You’re only allowed to to use the money deposited into that account by yourself.
What are the Requirements for Accessing the POF?
- You must own an active account with the financial institution funding your bank account. If you are not an existing costumer, you can easily get a bank account.
- You must be free from any form of loan from the bank or any financial institution. In other words, your credit score must be really good.
- You do not need any further documents to access the funds since you are already a customer of the financial institution.
What Rate Applies to the Loan?
A flat rate of 3.4% applies for each month. If after the agreed number of months, your visa does not get approved, you can extend the loan period at the same repayment rate.
In what Currencies Would my Account he Funded?
Your account would be funded in Naira. Naira is capable of being converted into British Pounds, Canadian Dollars, US Dollars, Euro or even any other currency.
And that is exactly how funding of accounts for POF works. If there is any other question which we did not treat here, do well to let us know in the comment section.
Step by Step Guide to Get Proof Of Funds (POF) in 24 Hours
Step 1: Reach out to iuschools.com and fill the POF form.
Step 2: Create an account with a partner financial institution (if you do not have an account yet). Present your utility bill, government issued Identity Card and a recent passport for your account to be created. If you are an existing costumer, do well to present your account details.
Step 3: Get your account funded in 24-48 hours. After your bank account is set up, it will be funded as soon as possible (usually within 24-48 hours)
After these whole process, ensure to present the bank statement to the embassy.
