Studying in Canada presents many opportunities for international students. If you are an international student considering pursuing your studies in Canada under the Student Direct Stream (SDS), the ICICI Bank Canada Student GIC Program is tailor-made for you.
Who can apply for a study permit through SDS and participate in our Student GIC Program?
ICICI Bank Canada Student GIC Program is currently available to individuals who are citizens of and holding a valid passport issued by the following countries:
Why participating in ICICI Bank Canada Student GIC Program?
In order to apply for a study permit under the SDS program, you must purchase a Guaranteed Investment Certificate (“GIC”) in the amount of CAD 10,000 or as specified by Immigration, Refugees & Citizenship Canada (IRCC) for the specific province of arrival. Students applying for a study permit outside of the SDS (e.g. for university programs) 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.
A GIC is a secure investment option (similar to a fixed or term deposit) that guarantees the full amount of your original investment as well as the interest over a pre-determined and fixed timeframe.
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. The fee to participate in this program is CAD 150, non-refundable.