Studying in Canada presents many opportunities for international students. If you are a student from India and are considering to pursue your studies in Canada under “Student Partners Program” (SPP) in India, the ICICI Bank Canada Student GIC Program is available to assist you.
To apply for a study permit under the SPP in India, you must purchase a Guaranteed Investment Certificate (“GIC”) in the amount of $10,000 Canadian Dollars (“CAD”). Students applying for a study permit outside of the SPP (e.g., for university study) may also purchase a GIC to act as proof of funds to cover their living expenses for the first year of their stay in Canada. You can now purchase this GIC from ICICI Bank Canada.
A GIC is a secure investment account ( like a Fixed Deposit in India) that guarantees the full amount of your original investment and the interest on your money over a pre-determined, fixed time frame.
With the ICICI Bank Canada Student GIC Program, you will receive a portion of your investment plus interest every month for a 12 month period. You can use these funds to help pay for living expenses while you’re studying in Canada. You will have received your full investment of $10,000 CAD at the end of 12 months. The fee to participate in this program is $150 CAD, non-refundable.