Guaranteed Investment Certificate (GIC)

Mukul
Posts: 1
Joined: Fri May 20, 2016 6:36 am

Guaranteed Investment Certificate (GIC)

Postby Mukul » Fri May 20, 2016 6:41 am

What is Guaranteed Investment Certificate (GIC)? Is Guaranteed Investment Certificate (GIC) compulsory in Canada for Graduate studies?

DEEPTI
Posts: 48
Joined: Wed May 18, 2016 6:10 am

Re: Guaranteed Investment Certificate (GIC)

Postby DEEPTI » Fri May 20, 2016 7:50 am

According to Citizenship and Immigration guidelines, under SPP one will require approximately CDA (Canadian Dollars) 10,000/year which in Indian terms is Rs. 5,00,000 excluding the tuition fees to cover ones living expense.
This is requirement will only be fulfilled through purchase of GIC(Guaranteed Investment Certificate) which is mandatory requirement for Canadian Education.
10,000 Canadian dollars has to be deposited from students account to GIC account.
GIC certificate is issued within 5 working days.This is a mandatory document for Visa.

amanpreet
Posts: 2
Joined: Mon Jun 06, 2016 11:25 am

Guaranteed Investment Certificate (GIC)

Postby amanpreet » Mon Jun 06, 2016 11:29 am

Which bank provides GIC?

vaishnavi
Posts: 80
Joined: Tue May 17, 2016 8:39 am

Re: Guaranteed Investment Certificate (GIC)

Postby vaishnavi » Sat Jun 11, 2016 7:17 am

ICICI and Nova Scotia Bank provide the GIC service.
You can check the links below for more details:

http://www.icicibank.ca/personal/newcomers/overview.page?

http://www.scotiabank.com/ca/en/0,,5698,00.html

chiragA
Posts: 1
Joined: Sat Jun 11, 2016 9:09 am

Re: Guaranteed Investment Certificate (GIC)

Postby chiragA » Sat Jun 11, 2016 9:11 am

Is GIC valid for others country too? Do we require GIC for New Zealand, As I am applying for both the countries, Canada and New Zealand?

vaishnavi
Posts: 80
Joined: Tue May 17, 2016 8:39 am

Re: Guaranteed Investment Certificate (GIC)

Postby vaishnavi » Wed Jun 15, 2016 6:32 am

GIC is valid only for Canada.


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