A GIC (guaranteed investment certificate) is a safe and secure investment with very little risk. ... A GIC works like a savings account in that you deposit money into it and earn interest on that money. The difference is that you need to leave your money in a GIC account for a specified period of time. To apply Study Permit under the SPP (Student partners program)*from India*, GIC certificate is Mandatory. ... Under Student Direct Stream (SDS) which is the new rule for student visa, yes, Guaranteed Investment Certificate (GIC) is compulsory for Student visa. Studying in Canada presents many opportunities for international students. If you are a student from India and are considering pursuing your studies in Canada under the “Student Partners Program”(SPP) in India, the ICICI Bank Canada Student GIC Program is for you. In order 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), or as specified by Immigration, Refugees & Citizenship Canada (IRCC) for the specific province of arrival. Students applying for a study permit outside of the SPP (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. ICICI Bank Canada Student GIC Program is tailor-made for you! A GIC is a secure investment option (similar to a Fixed Deposit in India) that guarantees the full amount of your original investment amount 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 $150 CAD, non-refundable.
We ss Grandeur assist students to opening GIC account in various countries.