No Change in GIC for Indian Student applying for Canadian Study Visa from 1st Apr 2019.

1st Mar 2019: There have been rumours that GIC requirements for Canadian Study Visa Applications in India under SDS category will be revised to $20,000 instead of $10,000 currently w.e.f. 1st April 2019. While the chances for this revision are very slim & so far NO official update has been issued by either CIC or any of the banks which are authorized to issue GIC like Scotia, ICICI & CIBC.

We have directly inquired with various official sources and nobody has confirmed any possible changes in the GIC requirements yet. Here is the official reply from Scotia Bank itself:

"At the moment we have not received any communication about the amount increasing to $20,000. If any changes are made we will make sure the update is posted to our website immediately" - Scotia Bank

Also, the official CIC checklist is still showing $10,000 GIC requirement under SDS, here is the official link:

http://www.cic.gc.ca/english/pdf/kits/forms/IMM5976E.pdf

Even if the GIC requirements are revised, most likely $20,000 requirement will be for students enrolling for 2 or more years programs and not for students going for 1 year programs.

We will monitor the changes in GIC requirements closely & post updates on this page. You can also subscribe to our newsletter below to get updates on your email.

Update - 1st Apr 2019: As we had predicted about a month back, the increased GIC requirement was just a rumour & Canadian High Commission is still accepting $10,000 GIC certificate for Canadian Study Permit/Visa under SDS, General & University Visa Categories. We came across few agencies who are still spreading rumours that GIC increase date has been postponed and they have received this update internally from the official source but unfortunately they are just trying to misguide the students for their own benefits. Any proposed change in immigration rules are officially declared in public by CIC which can be accessed by anyone around the world. You can still apply for GIC account with $10,200 in Scotia Bank & ICICI Bank. SBI Bank & CIBC are expected to start accepting GIC deposits soon.

We are the oldest Certified Canadian Education Consultants in India & would like to caution you to be aware of consultants who are spreading fake news & misguiding students which can lead to severe consequences for the ignorant students. If you have any questions, complains, comments or concerns regarding GIC then you can always write to us on gic@transitabroad.com. We will esclate the issue to the official agencies.

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