Aptech Study Abroad

Get your Canadian GIC certificate with in 2 days

The Guaranteed Investment Scheme, or GIC, is a one-year investment scheme available to international students. Students who choose to study in Canada under the SDS program should consider it. All international students must deposit proof of one year's living expenses into a Canadian bank account to be eligible for a Canadian Student Visa.

The bank that issues the GIC must:

Confirm that you purchased a GIC by providing you with one of the following:

  1. an attestation letter
  2. a certificate from the GIC
  3. a Confirmation of Investment Directions or
  4. a confirmation of the investment balance

Put the GIC in a savings or student account that you won't be able to access until you arrive in Canada.

They require you to verify your identification before releasing any payments to you

Please release the cash to you by supplying the following information:

  1. a one-time lump amount payment when you arrive in Canada and identify yourself.
  2. Distribute the remaining amounts over 10 to 12 months in monthly or bi-weekly installments

You won't be able to apply through the Student Direct Stream if your bank or GIC doesn't match these requirements.

GIC-offering financial institutions

A GIC can be obtained from a financial institution listed on the website of the Canadian Deposit Insurance Company. Check to see if the financial institution you chose offers a GIC and if it fits the Student Direct Stream requirements.

GICs that match the criteria are available firm the following financial institutions:

  1. Bank of Beijing
  2. Bank of China
  3. Bank of Montreal (BMO)
  4. Bank of Xian Co. Ltd
  5. Canadian Imperial Bank of Commerce (CIBC)
  6. DesjardinsFootnote1
  7. Habib Canadian Bank
  8. HSBC Bank of Canada
  9. ICICI Bank
  10. Industrial and Commercial Bank of China
  11. RBC Royal Bank
  12. SBI Canada Bank
  13. Scotiabank
  14. Simplii Financial
  15. TD Canada Trust


(Kindly note : Aptech Visa will help you fill out your forms for getting the loan or getting GIC done offline or online click on the mentioned link and gather more information:)

Student GIC Application Process Overview:
  1. Become a member of their Secure Mail Service.
  2. Fill out and submit the online Student Account application
  3. Upon successful completion of the application, you will receive your Student Account number right away.
  4. Follow the directions on the account confirmation page to deposit money into your Student Account. In your secure mailbox, you will also receive a confirmation email.
  5. A Balanced Investment Portfolio Once the money have been credited to your Student Account, you will receive confirmation in your secure mailbox. With this confirmation, you can apply for a Canadian Study Permit.
  6. They will open a personal chequing account for you upon your arrival in Canada and following successful in-person verification. They'll also open a GIC account for you and transfer the cash to your new chequing account.
  7. You can request a full refund of CAD 10,000, or the remaining balance in your Student Account, if your Student Visa/Permit request is refused or cancelled, or if you withdraw from your studies after arriving in Canada. For more information, please see the Refund section.

Study Assessment From


The application process for the GIC program for students is as follows:

1. Become a member of the Student GIC Program.

Kindly deposit a minimum of CAD 10,175 into your Student Account by wire transfer, as detailed below.

CAD 10,000 to be put into your Student Account (or the amount determined by Immigration, Refugees, and Citizenship Canada for the province in which you will be arriving);
CAD 150 to cover the account processing cost, which is non-refundable;
CAD 25 to cover any other corresponding bank charges, if applicable.

Please ensure that money is wired from your bank account in a single transaction before landing in Canada; do not make multiple deposits into the account.

An Investment Balance Confirmation will be emailed to you via our safe mailbox after your money have been received. For your records, we recommend that you print a copy of this confirmation. After subtracting the corresponding bank costs and processing fee, any remaining funds will be credited to your account.

Note: International wire transfers can take up to 5 days (or longer) to reach ICICI Bank Canada.

It is critical to include a copy of the Investment Balance Confirmation with your application to the Canadian Visa office in your home country when applying for a student visa / permit.

Refund Process

The Refunding Procedure

To get a refund, simply follow these simple steps:

  1. Fill out an application
  2. Login to your Student GIC Program profile and submit a refund request online by clicking here. To avoid any delays, make sure you fill out the request properly. You will receive your refund within 8 weeks once they have processed your request.

  3. Funds are returned
  4. For security reasons, the refund can only be sent to the account that received the funds in the first place.

State Bank of India

(Aptech Visa helps and guides its applicant in filling forms and applying for GIC click on the mentioned link to know more details)

For students from India, China, Vietnam, or the Philippines who want to study in any Canadian province except Quebec, SBI Canada Bank offers a Student GIC Program. A GIC is a fixed-term investment account that pays a guaranteed interest rate. It is eligible for deposit protection from the Canada Deposit Insurance Corporation (CDIC), but only to the extent that maximum coverage limits apply. To purchase the GIC, you must first open an account with SBI Canada Bank and then transfer CAD10, 000 plus fees. Interest will be paid on the money in your GIC account.

An equal monthly installment of principal and interest will be paid into your savings or chequing account for the next 12 months. Please keep in mind that this is only an example and will vary depending on the interest rates you choose to invest at.