Once a student receives his Letter of Acceptance or Offer Letter from a Canadian College or University, they have to apply for their GIC account, where they have to deposit CA$10,000 (it is the minimum amount by IRCC) and CA$150-CA$200 as a program fee depending on the Bank. Most of the students prefer to open an account in the Royal Bank of Canada (RBC) through Abroad Cube because they give higher interest rates compared to other banks and process the GIC Certificate in one day on receipt of payment. To open your RBC GIC Account, please consult Abroad Cube at the earliest.
Hey, hope you're doing well! 😊
You should ideally open your GIC account 3-4 months before you plan to apply for your Canada student visa. Here's why:
Visa Application Requirement
If you’re applying through the Student Direct Stream (SDS), the GIC is a mandatory part of your application, and you’ll need the GIC certificate (proof of deposit) when you submit your study permit application.
Processing Time
It may take 1-2 weeks for the bank to process your GIC account and issue the certificate. You’ll need this certificate before you submit your visa application.
Enough Time to Gather Documents
Give yourself enough time to ensure everything is ready for your visa application. Having the GIC certificate is essential, and rushing it might cause delays.
So, opening it 3-4 months in advance ensures you're well-prepared and have time for everything to be processed smoothly.
Let me know if you need more details or have other questions! 😊
