What are the GIC account requirements ?

To open your GIC Account from India, the student needs to submit their documents online (the documents required are a scanned copy of his passport and a letter of acceptance by the College/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 a payment of CA$10,000 plus CA$150 to CA$200 according to the fee of every bank. The program fee is non-refundable, while the GIC deposit is fully refundable. A student can do this payment transfer Online and Offline. Contact our team to transfer your payment online with the lowest exchange rates and faster processing. After transferring the amount, the bank gives us a GIC Certificate within 1 to 7 days, depending on the bank. 

Hello! Here's a short summary of the GIC account requirements:

Eligibility: You must be an international student with a valid acceptance letter from a Canadian institution.

Deposit Amount: Typically, CAD 10,000 for living expenses in Canada.

Banks Offering GIC: Banks like Scotiabank, RBC, CIBC, ICICI, and BMO offer GICs for students.

Application Process: Apply online, provide documents (passport, study acceptance letter), and transfer the deposit to the Canadian bank.

Access to Funds: Funds are locked in for one year but are released periodically (monthly or quarterly) for living expenses.

Proof for Visa: You’ll need the GIC certificate to apply for your study permit.