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How much amount to send for GIC Canada ?

How much amount to send for GIC Canada ?

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1 Answers Reply
  • Tejas Ravi
  • 1 year ago

After the approval for account opening, students need to transfer CA$10,000 as a deposit plus CA$150 to CA$200 as a bank program fee. The maximum amount that you can transfer is up to CA$ 75,000 depending on the bank. Students are also advised to send CA$50 extra for security purposes and Inter-Bank Remittance Charges. The extra CA$50 will be added to CA$10,000 and deposited in the student account in monthly installments. For example, if a student selects RBC Bank, they must pay CA$10,250, where CA$200 is the bank’s program fee and CA$50 extra for security purposes. On the other hand, if a student selects CIBC Bank, they have to pay CA$ 10,200, where CA$ 150 is the bank’s program fee and CA$ 50 extra for security purposes. If we compare, RBC is a better option than other banks because of their high interest rate and low processing times. If you have to open your GIC Account in less time, please contact Abroad Cube.

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