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Study Abroad > Canada > Guaranteed Investment Certificate (GIC)

Study in Canada

Revised GIC for Indian Student applying for Canadian Study Visa from 1st Apr 2019.

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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.

 

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Need help? please give us a call or send us an email with your details & requirements & we will be happy to assist you.

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