Canada Study Permit

As an international student in Canada, one of the financial requirements you must fulfill is purchasing a Guaranteed Investment Certificate (GIC) as proof of funds. The GIC is a special type of investment account that holds your funds for a specified period of time, with the money becoming available to you in installments over the course of your studies. While the GIC is a mandatory requirement for international students, the specific GIC program you choose can vary depending on the bank you choose to work with. Here's a look at some of the major Canadian banks that offer GIC programs for international students, and what you need to know about each one. Scotiabank Student GIC Program: Scotiabank's GIC program for international students offers competitive interest rates, with a minimum investment of $10,000. The program also offers online account management, as well as the ability to transfer funds to other Scotiabank accounts. One drawback, however, is that the program has a re...

As an international student planning to study in Canada, one of the essential requirements to obtain a study permit is to demonstrate that you have sufficient funds to cover your living expenses. One of the options available to fulfill this requirement is through the Guaranteed Investment Certificate or GIC program. A GIC is a type of investment account that is offered by Canadian banks. It requires you to deposit a specific amount of money in a locked account for a specific period. The locked account ensures that you have enough funds to support your living expenses during your stay in Canada. Here are some GIC options for international students in Canada: Scotiabank Student GIC Program : This program offers a GIC account for a fixed term of one year with a minimum deposit of $10,200 CAD. The funds are released to you in installments to cover your living expenses. ICICI Bank Canada International Student GIC Program : This program offers a GIC account for a fixed term of one year with ...