Is GIC optional?

Is GIC optional?

What is GIC? GIC stands for Guaranteed Investment Certificate, it is a short term liquid investment usually for upto a year offered by Canadian Banks. If the student is applying under University Category Visa then GIC is optional for them.

Is proof of funds required for Canada student visa?

In order to secure a Canada Study Permit, proof of unencumbered available funds is required to cover tuition and living expenses. You can prove funding with: Proof of your Canadian bank account showing money you have transferred. Your bank statements for the past four months.

How much is GIC for Canada student visa?

To gain Canadian study permit/visa, students need to submit a proof of sufficient funds. A GIC of C$10,000 from an approved Canadian bank acts an evidence of funds for your Canadian study permit/visa.

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Can I get visa without GIC?

Yes, GIC is made compulsory in order to qualify for a student visa to study in canada. They usually do not consider an application without GIC as GIC acts as a saving account that offers fixed returns to all eligible candidates over a period of time.

How can I get a student visa without a GIC?

There is no way you can apply for student visa without GIC. GIC is compulsory for Canadian visa application. For that, you can take up a study loan from any bank in india. Most banks provide loan once you get offer from any Canadian university or college.

Is GIC compulsory for non SDS?

gic is not mandatory if you are not applying under sds. but it is highly recommended as this is proof for vo that you have enough funds to support your studies.

Is GIC refundable?

Student GIC Program – Refund Process All paid fees including the processing fee are non-refundable.

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Is GIC enough for student visa?

Hello, There is no way you can apply for student visa without GIC. GIC is compulsory for Canadian visa application. For that, you can take up a study loan from any bank in india.

How much GIC do I need for Canada student visa?

The Canadian embassy has recommended a minimum of $10,000 CAD as the GIC amount for Canada student visa. All candidates need to deposit this GIC amount for Canada student visa. Students can deposit anywhere between $10,000 CAD to $50,000 CAD in their respective savings accounts at a time.

How do I apply for a GIC in Canada?

The bank that gives you the GIC must: hold the GIC in an investment account or a student account that you can’t access until you arrive in Canada the remainder of the funds in monthly or bi-monthly installments over 10 to 12 months If your bank or GIC doesn’t meet these criteria, you won’t be able to apply through the Student Direct Stream.

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Is Nono compulsory for studying in Canada under GIC?

NO. It is not compulsory . You need to explain that how will you mange Living Expenses while studying in Canada . GIC strengthens your case that you are a bonafide student . Under University category – paying tuition fees for atleast 1st semester is a mandate.

What is a GIC (Guaranteed Investment Certificate) in Canada?

The Canadian government needs an assurance that once you land in Canada, you have sufficient funds (at least C$10,000) to cover your living expenses in Canada for one year, and to do so, students need to purchase a GIC (Guaranteed Investment Certificate).