GIC PAYMENT QUERY - URGENT

[Nikhil Das]

Hi, I reside in Mumbai, India and I have secured admissions for the fall term in Seneca college. I have taken education loan from a co-operative bank named NKGSB. I will pay my tuition & GIC fees from the education loan taken. My query is, does Scoatia Bank accepts the GIC payments from co-operative bank that I have taken the loan from ? Pleas help !

 

[2b.or.not.2b]

GIC will not be a problem as long as the name on the passport and the name in the account are the same.
Payment of initial fees also will go through without a hitch but if you are using the loan to prove your ability to fund future tuition payments then you will have to check whether NKGSB is on the list of approved financial institutions . IMO NKGSB is not on the approved list.

 

[Nikhil Das]

GIC will not be a problem as long as the name on the passport and the name in the account are the same.
Payment of initial fees also will go through without a hitch but if you are using the loan to prove your ability to fund future tuition payments then you will have to check whether NKGSB is on the list of approved financial institutions . IMO NKGSB is not on the approved list.

Thanks for your reply !
However I will be applying through the Student Direct Stream Program. So as per this program I have to pay the tuition fees for the entire year in one go and provide the visa office with just the fee payment receipt.
So again my only concern is , if I'm paying the fees for the entire year in one go, will the college accept the payment from the above mentioned bank ?
Because during my visa process I just have to show them the fee receipt received by the college and not how I funded/ paid my tuition fees.
Because as per the visa guidelines mentioned under Student Direct Stream they need the following details:

• a copy of your acceptance letter from a designated learning institution
• a copy of your upfront medical exam confirmation document
• proof that you have a Guaranteed Investment Certificate (GIC) of $10,000
• proof that you’ve paid the tuition fees for your first year of study, and
• proof that you graduated from a Canadian curriculum high school or a language test form showing a
  • score of at least 6 for English (International English Language Testing System), or
  • Niveaux de compétence linguistique canadiens score of at least 7 for French (Test d’évaluation de français)

 

[2b.or.not.2b]

True. But if your program duration is more than one year it is better to have proof of your ability to fund the entire program. This makes your application more sound and the above guidelines are list of must have documents to qualify for SDS you can add more documents if they add value to your application.

 

[Nikhil Das]

True. But if your program duration is more than one year it is better to have proof of your ability to fund the entire program. This makes your application more sound and the above guidelines are list of must have documents to qualify for SDS you can add more documents if they add value to your application.

Thanks for your reply. My program duration is of 1 year. So do you think the college will accept the fee payment from the above mentioned bank ?

 

[2b.or.not.2b]

Yes as long as the SWIFT transfer is credited to their account it does not matter from which bank the transfer was made. As your program duration is one year you are good to go.

 

[Sheljin Mathew]

Hi my name is sheljin from Kerala, How Many days takes to get my GIC payment Receipt after paying my GIC amount ?

 

[Nikhil Das]

Hi my name is sheljin from Kerala, How Many days takes to get my GIC payment Receipt after paying my GIC amount ?

Hi, it usually takes 9-12 working days