Guaranteed funds and savings while studying in Canada

What is Student GIC Canada?

A Student Guaranteed Investment Certificate (GIC) is a short-term investment that gives international students readily available funds while studying in Canada. For CA$10,000, international students from select countries will not only have an easily accessible source of funds during their one-year study in Canada. They will also be able to enjoy the following benefits:

• Faster processing of their student permit because the GIC is essentially proof of your financial capacity to study in Canada
• Readily available funds for student and living expenses
• Under the ICICI Bank’s Student GIC Program, students will receive a fixed return on their investment, along with interest, for one year

ICICI Bank Student GIC Program ICICI Bank Canada offers Student GIC Program which is currently available to students who are citizens of and Hold a valid passport issued by the following countries:

Eligibility for ICICI Bank Canada Student GIC Program

You are eligible for the ICICI Bank Canada Student GIC Program if you meet the following requirements:

You are a citizen of and hold a valid passport issued by India, the Philippines, Vietnam, China, Senegal, or Morocco

You have an acceptance letter for a post-secondary designated learning institution, which is a school approved to host international students

You live outside Canada when you apply

Steps to avail of a Student GIC from ICICI Bank

 

01 Check your eligibility. Students must meet certain criteria such as the country they come from, financial capacity, and the like.

02 Register for ICICI Bank’s Secure Mail Service.

03 Fill out and submit your Student Account application online, then wait for your Student Account number from ICICI Bank.

04 Check the account confirmation page and follow the instructions for depositing your funds into your account. A confirmation email will also be sent to you.

05 Once the funds are credited to your student account, you will receive an Investment Balance Confirmation. You can use this confirmation to apply for your Canadian Study Permit.

06 Upon your arrival in Canada, you will need to verify your account in person at ICICI Bank. The bank will then open a personal checking account for you and transfer your deposited funds into your new account. Your GIC account will also be created, so you can have access to your funds.