{"id":16386,"date":"2021-11-05T05:54:01","date_gmt":"2021-11-05T05:54:01","guid":{"rendered":"https:\/\/www.unimoni.in\/blog\/?p=16386"},"modified":"2024-03-25T12:24:19","modified_gmt":"2024-03-25T12:24:19","slug":"is-gic-compulsory-for-a-canadian-student-visa","status":"publish","type":"post","link":"https:\/\/www.unimoni.in\/blog\/is-gic-compulsory-for-a-canadian-student-visa\/","title":{"rendered":"Is GIC compulsory for a Canadian student visa?"},"content":{"rendered":"<style><\/style><h2 style=\"text-align: justify;\"><span style=\"color: #000000;\"><strong>Is GIC mandatory for a Canadian student visa? How to apply?<\/strong><\/span><\/h2>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\" data-preserver-spaces=\"true\"><strong>GIC<\/strong> has become more relevant for pursuing higher studies at universities in Canada. It symbolizes guaranteeing the Canadian government that you have sufficient funds to cover your living expenses for the first year in Canada. It is essential for easy and quick Canadian visa\/study permit application and processing. To gain a Canadian study permit\/visa, students need to submit proof of sufficient funds.The standard amount for the Guaranteed Investment Certificate (GIC) usually covers a year&#8217;s living expenses in Canada, which is currently CAD 20,635 (excluding Quebec, which may have different requirements). You also need to provide evidence of your Canadian study permit\/visa funds.<\/span><\/p>\n<h2 style=\"text-align: justify;\"><span style=\"color: #000000;\"><strong>From where can you buy GIC?<\/strong><\/span><\/h2>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\" data-preserver-spaces=\"true\">GIC, or the <span style=\"color: #0000ff;\"><strong>Guaranteed Investment Certificate<\/strong><\/span>, can be purchased from ICICI Bank Canada and Scotiabank.<\/span><\/p>\n<h2 style=\"text-align: justify;\"><span style=\"color: #000000;\"><strong>GIC Application Process<\/strong><\/span><\/h2>\n<h3 style=\"text-align: justify;\"><span style=\"color: #000000;\"><strong>Step 1: Register for a bank-secured email service<\/strong><\/span><\/h3>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\" data-preserver-spaces=\"true\">The pupil must register online with an authentic Canadian bank by filling up their details. Once registered, you will get a password, through which you can log into your secured email account. The Banks will send GIC Application Form to your confirmed email account.<\/span><\/p>\n<h3 style=\"text-align: justify;\"><span style=\"color: #000000;\"><strong>Step 2: Submit the application form for Student GIC Program\u00a0<\/strong><\/span><\/h3>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\" data-preserver-spaces=\"true\">After registering for a secure email account, you will receive an email link to the Student GIC Program application form.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\" data-preserver-spaces=\"true\">You can submit the Student GIC Program application form either online or offline.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\" data-preserver-spaces=\"true\">For online mode, you must fill-up the form and submit it with the scanned copy of your offer letter and passport online through their secured email account.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\" data-preserver-spaces=\"true\">For the offline method, you can download the form from the secure email account, take a print of the same and fill it along with your signature and submit it in-person to the designated bank in India, along with your admission letter from Canada university\/SPP College and your passport;<\/span><\/p>\n<h3 style=\"text-align: justify;\"><span style=\"color: #000000;\"><strong>Step 3: Fund your account<\/strong><\/span><\/h3>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\" data-preserver-spaces=\"true\">After submitting the Student GIC Program Application, you will get an \u2018Investment Account Number\u2019 along with funding deets in your secure email.<\/span><\/p>\n<p>Fund the \u2018Canada Student GIC Program\u2019 account with CAD 20,635 + CAD 150 processing fee from any bank account in India.<\/p>\n<h3 style=\"text-align: justify;\"><span style=\"color: #000000;\"><strong>Step 4: Apply for Study Permit\/Visa<\/strong><\/span><\/h3>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\" data-preserver-spaces=\"true\">Next, you can apply for the Canadian study permit\/visa to the Canadian visa office in India. For this, you need to submit a copy of your \u2018Investment Balance Confirmation\u2019 along with your Study Permit\/Visa application. The visa processing will be rapid and easy.<\/span><\/p>\n<h3 style=\"text-align: justify;\"><span style=\"color: #000000;\"><strong>Step 5: Finish the documentation formalities in Canada<\/strong><\/span><\/h3>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\" data-preserver-spaces=\"true\">Upon arriving in Canada, you must visit any of the bank branches to complete the documentation formalities.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\" data-preserver-spaces=\"true\">The above steps are for starting a GIC account for students who aspire to go to Canada for their higher studies. Now get ready to pursue your studies at a renowned university in Canada.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Is GIC mandatory for a Canadian student visa? How to apply? GIC has become more relevant for pursuing higher studies at universities in Canada. It symbolizes guaranteeing the Canadian government that you have sufficient funds to cover your living expenses for the first year in Canada. It is essential for easy and quick Canadian visa\/study&#8230;<\/p>\n","protected":false},"author":3,"featured_media":16390,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[41,44,55,242],"tags":[175,179,178,180,174,63],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v16.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Is GIC Compulsory for a Canadian Student Visa? - Unimoni.in<\/title>\n<meta name=\"description\" content=\"Get to know is GIC compulsory for a Canadian student visa. visit our page to know that why GIC account is such an important part in student visa process.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.unimoni.in\/blog\/is-gic-compulsory-for-a-canadian-student-visa\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Is GIC Compulsory for a Canadian Student Visa? 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