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How to open a GIC account in India ?

How to open a GIC account in India ?

2 Answers Reply
  • Aarush Sharma
  • 1 year ago

To open a GIC account in India, a student must undergo simple and easy steps. First and foremost, the student needs to submit his documents online (the documents required are a scanned copy of his passport, a letter of acceptance approved by the College or University). After submitting documents, the bank accepts/rejects the request to open the GIC account. Some banks give their decision of acceptance/rejection on the same day of the request, whereas some banks might take time for 2 to 10 days. Once your request is accepted, the bank asks us to fund the account with payment of CA$10,000 plus CA$150 to CA$200 according to the program fee of every bank. The program fees (CA$150-CA$200) we deposit are non-refundable & GIC amount (CA$10,000) is fully refundable.

A student can transfer this payment either through Online Platforms or Offline Banks. The Offline process through Bank Branch is tedious as it involves long documenting & time-consuming due to numerous permissions. To make the GIC payment Online at the best exchange rate and lowest processingyou must contact Abroad Cube. Their partners are RBI-Authorized Money Exchangers and provide the lowest Exchange rate. After depositing the amount, the bank issues the GIC Certificate within 1 to 7 days, depending on the bank’s processing speed. If we compare all Banks, the RBC is the best because of their high interest rate and lowest processing time. To open your RBC GIC Account through Abroad Cubeplease reach to their team.

  • Aditya Patil
  • 1 year ago

A student has seven options for selecting the bank for a GIC account in India. RBC, Scotia Bank, CIBC, BMO, ICICI, SBI, and Simplii Financial. To open a GIC account from India, initially a student has to apply for a GIC account and must submit their documents such as a scanned copy of his passport and acceptance letter issued by the College or University. After the submission of documents, the request for opening a GIC account is approved by Canadian Banks, and payment instructions have been sent. The student has to transfer CA$10,000 and CA$150-CA$200 as a program fee to the bank. After transferring the payment, the student will get GIC certificates within 1-7 days. Some banks even provide GIC certificates within one day. If we compare all banks, the RBC tops the list because they have the lowest processing time (1 day) and highest interest rate (4.55%). To open your GIC Account or to make a GIC payment, you should reach out to Abroad Cube for the best services.

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