- PersonalToday’s exchange rate* for CAD/INR personal online money transfer: 52.8294
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Today’s exchange rate* for CAD/INR personal online money transfer: 52.8294
Student GIC Program - Refund Policy
What to do if your study permit is declined or cancelled
In the event that your application for a study permit is declined, ICICI Bank Canada will refund your initial investment of CAD10,000 or the remaining balance, if you have already received a portion of funds. To request a refund you must prove that:
- your study permit is declined, cancelled or,
- your admission application to a Canadian educational institution is declined or,
- you have withdrawn enrolment from the Canadian educational institution and have returned to India.
If you are in Canada and wish to withdraw from your course, please inform your local ICICI Bank Canada branch of your plans to return to India. Once we are notified, we will close your account(s), following which you can request your GIC refund after you return to India.
Please note that in both the above cases, a refund request can only be submitted through the ICICI Bank Canada Secure Email Service. The investment will only be refunded after verification of your return to India and visa / study permit cancellation by a Canadian visa office.
Please make sure that you properly complete your refund request in order to avoid delays. Once we have approved your refund request, you will receive your refund within 6 weeks.
Follow these simple steps to request your refund:
- Application completion and review
Login to your application on the Student GIC Program login page to initiate the refund request online.
- Fund transfer to India
We will wire your funds back to your original bank account in India. For security reasons, funds can only be returned to the account that they were initially received from.
- Email confirmation
We will send you a confirmation of the fund transfer using the ICICI Bank Canada Secure Email Service.
- Fund receipt
Your funds will reach your account in India within 6 weeks.