How long it takes for GIC purchase completion

[BadshahIqbal]

I was planning to show loan of 6 lakhs for living expense
But after seeing many post i think it is better to purchase GIC
But i think its very late for GIC purchase

Can any say how long it takes to purchase GIC ?

Or is it ok if i apply with my loan of 6 lakhs ? ( loan against property of 29lakhs )

 

[BadshahIqbal]

Please comment guys

 

[RNK]

it takes 10working days for entire process

 

[irresistant]

prefer GIC brother... in my case it took total 6 working dayz

 

[Raj Grewal]

in my case 7 working days still no account number to make deposit

 

[karanssharma]

i requested for my account number on 1st nov...got it on last thursday...and still waitng for GIC....its a loon looooong waitt...

 

[aman khinda]

brother i would say you to not purchase GIC now as it may take 10-13 days including weekends..now u dont have enough..and why to take risk so i prefer you to go for loan g..

 

[BadshahIqbal]

Appreciate all of your options guys
I am taking risk...applying with loan itself...if i rejected..it will be lesson for future applicants..
Cause i think apart from GIC my profile is strong enough..they can reject me only on this ground
Fingers crossed.. Lets see what god decide

 

[Raj Grewal]

i applied on 1st nov still havent got account number. called them and they said write to studentgic@scotiabank.com. they are wasting a lot of time

 

[BadshahIqbal]

Thats what raj..my bank took only 7 days for sanctioning my loan ( all my property docs were ready )..legal advisor documentation 3 days plus 3 days for property valuation..1 day for sanctioning..i can withdraw that money and get GIC...bt for now GIC is a looong procedure ...hope they ll make GIC purchase faster from next intake

 

[Raj Grewal]

i got my gic account number today.went to make payment the bank said i need form 15 certified from a ca. its a frustrating process

 

[aman khinda]

ohhhhhh whats this..i just arrive my bank and they make wire transfer..no need of such form..

 

[Raj Grewal]

sbi ludhiana branch. they said they won't make a tranfer without this form

 

[niki73]

i transferred money on 9th and got GIC today....

 

[GeethaSelvaraj]

Hi,

I applied to GIC first on Nov 8th, but they replied tat my passport copies are not clear so i resent on 12th Nov (four days passed as of today).. but still i dint get any wire transfer details.and from the topics here i earnt from others tat it takes nearly 10 days to get the GIC..i dnt think i have much time left for filing visa application..pls suggest if i can continue wit GIC or go for education loan using FD ..