Q. How can I get my money back if my Study Permit is refused or I withdraw from the institution?
A. Full redemption of the outstanding principal of your GIC cannot occur prior to the Maturity Date unless you provide us with proof that:
I.
your Study Permit has been declined. Please provide us with a copy of the “Refusal Letter” issued by the Canadian High Commission; or
II.
your application for admission to a Canadian educational institution has been declined; or
III.
you have withdrawn from enrolment at the Canadian educational institution after your arrival in Canada. Please provide us with a copy of the cancelled Study Permit from the Canadian High Commission office in India.
Upon receipt of proof of any of these events and confirmation from the Canadian High Commission, we will redeem the outstanding principal plus, for GICs outstanding for more than thirty days, any accumulated interest. The amount to be refunded will be transferred to the bank account in your country from which your original payment was remitted less the $50 CAD administration charge.
If u have agent contact them.. My friend who is rejected is contacting his agent and they are doing his process of refunding gic...nakul said:i did that on this email id but i got this message
Thank you for your interest in Scotiabank.
If you have contacted us with an application for the Scotiabank Student GIC Program, please note: applications will not be accepted and processed for students applying for January 2013 intake after 12 noon IST, Friday November 16th 2012 and in order to process your GIC certificate prior the Dec 1st study permit deadline, the deadline for receipt of funds in Canada is Friday, November 23rd by 12 noon IST.
If your application has been received prior to the application deadline, we will follow-up with you shortly (please allow for time difference, weekends and other Public & Bank Holidays in Canada).