Canada stands as the best destination for education as more than half a million international students fly out from all across the globe. No wonder GIC payments to Canada are so popular making it highly demanding in the industry. High quality of life, best immigration openings, budgeted education fees, a large number of globally-recognized colleges, and the most attractive part is the high opportunity to work once you complete your studies.
Once you have made up your mind for studying in Canada then you have 2 options SPP and non-SPP or general. Students Partnership Program or SPP and non-SPP among which SPP needs detailed proof of funds or GIC payment to Canada proof is required whereas the other one does not. Educational loans, other investments, and savings in the form of deposits in banks are call considered financial assets that could be placed as proof of funds.
Students aspiring to study in Canada have always been confused with GIC payments. Many are looking for mediators and other sources to get it done. It is most essential to gather more information about the Canada GIC and how it works, before diving headlong to go for GIC payments to Canada. Try exploring a bit through all your online resources to learn further and proceed with confidence.
How to start a GIC account in Canada?
Most of the Banks in Canada offer an online process to start GIC accounts, you have to prefer a bank with a wide network especially in your staying area. After the opening of the GIC account bank will provide an account with payment instructions to the GIC account to get your GIC payments to Canada credited.
How much GIC payments to Canada is required?
Canadian embassy often suggests at least an amount of $10, 000 CAD as the GIC payments to Canada for a student’s visa. Students deposit this amount which ranges from $10,000 CAD to $50,000 CAD in their savings account. Students’ registration process requires the student to deposit at least $10,000 CAD with the registered Canadian embassy and the authorized lender.
How to start a GIC account in Canada?
Guaranteed Investment Certificate popularly known as GIC is an investment scheme that recommends international aspirants of overseas education specially in Canada.
A Guaranteed investment certificate popular as GIC, is an investment account offered by Canadian banks mainly for international students. The Canadian government has started this initiative mainly for students who are pursuing the Study Direct Stream program or SDS program. In this program, the student has to deposit the amount in the account considered to meet their living expense for one year. This account acts more like a saving account that offers a fixed amount to all eligible candidates.
Usually, students deposit a fixed amount of money in this account which could range from CAD 10000 to 50000 depending upon banks. This money would be released to the student every month proportionally for their study and living expenses which includes interest rate.
