How many of u got the GIC?

[sabby2612]

for september intake, you have enough time with you. I suggest you start the process in a week's time just to be on a safer side. though the dead line will be around july 20th... if you do not take GIC which is recommended as visa chances are bright for spp candidates... then you can opt for bank loan to show CAD10k.

 

[Jasmohra]

in first few Gic's they issue last intake have sign but after that there is no sign on it . So do worry i have same gic like u. And u have to only confirmation doc.

Hy sandhu... Did u sign it bfr submitting it along ..?

 

[mayank_6]

What I am thinking is take the Bank loan first and then Purchase GIC from it.... Is this approach correct ?

 

[Jasmohra]

hy mayank ...pls make sure tht GIC can be done only frm ur own account .. so ask the bank whr u want to tk loan .. will they transfer the money into ur account? so tht it cn be shown goin frm ur account.. u cn hav money frm anywhr /anyone but account name has to b urs..

 

[ms.mech]

What I am thinking is take the Bank loan first and then Purchase GIC from it.... Is this approach correct ?

In education loan, 99% of bank's does not transfer money into any1's personal account. Money is transferred to direct institute's account. So either get University accommodation or arrange for living expenses by yourself. GIC is requirement of Embassy not of University.

OR you can get anyother loan like personal/housing etc etc and use that money to transfer for GIC. and other educaion loan for Tution fees purposes.

 

[mayank_6]

I confirmed from the Loan officer and yes, they won't transfer Education loan amount to my own Account...That Sanctioned money will be in my Loan account ( Owned by my name and my father jointly ) .

I will be taking only a single Loan and that would be Education loan only...I am not sure what is the problem here if I purchase GIC from the Loan amount ( present in my Loan Account ). If it creates a problem then I will just show 10k $ from my Loan amount to Visa officers rather than receipt of purchasing GIC as I am not applying under SPP

 

[ms.mech]

I confirmed from the Loan officer and yes, they won't transfer Education loan amount to my own Account...That Sanctioned money will be in my Loan account ( Owned by my name and my father jointly ) .

I will be taking only a single Loan and that would be Education loan only...I am not sure what is the problem here if I purchase GIC from the Loan amount ( present in my Loan Account ). If it creates a problem then I will just show 10k $ from my Loan amount to Visa officers rather than receipt of purchasing GIC as I am not applying under SPP

As I told you, GIC is requirement of embassy not of University. Bank will not give money to you. Every transaction will be in University's account.

 

[mayank_6]

So u mean to say that I can not utilize Loan amount towards purchasing GIC ???? that is a big shock for me Now I don't know what to do as I don't have money to buy GIC from anywhere else but my Loan amount.

Bank will issue Loan for both tuition and Living fees but now this hurdle ...

 

[Jasmohra]

y dnt u use the loan for tuition n other expenses and ur own money for GIC?
or simply show the loan for living expenses .. dnt get into GIC then

 

[mayank_6]

@jasmohra

I don't have this much money of 10k $ for living expense and I am relying upon Education loan only

Are you sure I can not purchase GIC from my Loan amount ( which will be jointly owned me and my father ) ????

Being a University Applicant, Will it lessen up my chances for Visa approval if I don't purchase GIC and rather show 10k $ from Loan

 

[Jasmohra]

@ jasmohra

I don't have this much money of 10k $ for living expense and I am relying upon Education loan only

Are you sure I can not purchase GIC from my Loan amount ( which will be jointly owned me and my father ) ????

Being a University Applicant, Will it lessen up my chances for Visa approval if I don't purchase GIC and rather show 10k $ from Loan

since ur loan account is jointly owned by u n ur father .... it cant be .. the SBI people want parent to b a co-borrower i agree ..
but the scotiabank clearly says .. "Do NOT wire transfer funds from any account other than your own bank account in
India (The bank account MUST BE in the name of the student/applicant)".,,,,,or someone else also cant fund it..

now i suggest u follow up with studentgic@scotiabank.com and ask them whethr it can b funded from a loan account jointly owned by u n ur father?? see what they say..

 

[mayank_6]

Query Sent !!!

 

[mayank_6]

"Only funds with a matching sender and beneficiary name will be accepted"

This is written in their site...that means I will be the beneficiary so Sender should be me only i..e My own Account ( and not Joint account of me and my father )

 

[Swati Chauhan]

Hello Everyone

Is it still possible to submit GIC amount for May Intake. ?

 

[Harry22]

Hello Everyone

Is it still possible to submit GIC amount for May Intake. ?

Yes, you can still submit funds for GIC for may intake.