Need a specific information about GIC of 10,000$ for SDS Canadian Visa.

[Same321321]

Hi,

Currently I am planing to apply for Canadian study permit through Student Direct Stream (SDS). We are maintaining a bank balance for the past 12 months which is worth of 15,000$ in India. Can we show that bank balance and a education loan instead of taking a 10,000$ of GIC for my Canadian study permit through Student Direct Stream(SDS)?

Thank you.

 

[selvakk]

Hi,

Currently I am planing to apply for Canadian study permit through Student Direct Stream (SDS). We are maintaining a bank balance for the past 12 months which is worth of 15,000$ in India. Can we show that bank balance and a education loan instead of taking a 10,000$ of GIC for my Canadian study permit through Student Direct Stream(SDS)?

Thank you.

No, for SDS stream GIC of 10,000 CAD plus first year tuition fees paid upfront.

 

[Harman221]

Hi,

Currently I am planing to apply for Canadian study permit through Student Direct Stream (SDS). We are maintaining a bank balance for the past 12 months which is worth of 15,000$ in India. Can we show that bank balance and a education loan instead of taking a 10,000$ of GIC for my Canadian study permit through Student Direct Stream(SDS)?

Thank you.

Make your GIC payment and apply your file in embassy as soon as possible, Because GIC from 1st April is going to be $20,000 CAD

 

[bongoman]

GIC is part of SDS you can apply through other stream if you dont want to do GIC.

 

[selvakk]

Make your GIC payment and apply your file in embassy as soon as possible, Because GIC from 1st April is going to be $20,000 CAD

Source for this information ??

 

[Harman221]

I was updated by IDP today, you will come to know this soon from other sources. Tomorrow newspaper may contain this news.

 

[Kritikt]

Hi ,Can GIC funds be arranged taking an education loan?

 

[Harman221]

You need to pay for GIC no matter from where you are arranging the money.

 

[tarandeephanjra]

You need to pay for GIC no matter from where you are arranging the money.

Today i read all the newspaper but there is no news regarding increment in gic amount
I guess IDP just make fool of you lol

 

[Samadhani]

I am a 2014 mechanical engineering passout. I have read that there is maximum gap of 5 years allowed between studies and i want to know upto what term can i apply (2019 sept intake or 2020 jan intake)?

I have another doubt on visa approval as well. As i ihave been working as business development manager after my engineering would it be possible for me to apply to business analytics course? Few of the consultancies i have checked are saying visa wouldnt get approved.

Please help me out on these issues.

 

[selvakk]

Today i read all the newspaper but there is no news regarding increment in gic amount
I guess IDP just make fool of you lol

As far as I know individual banks have different limits for how much money you want to put in the GIC

Soctiabank: Upto 50,000 CAD
ICICI : Upto 10,000 CAD
CIBC: Upto 20,00 CAD
SBI: Upto 10,000 CAD

The amount we have to put depends on what the Canadian government thinks an individual needs in a year. At the current moment this is 10,000 CAD for All provinces other than Quebec and 11,000 for Quebec. Unless this changes, there will be no change in the GIC required for SDS visa. I am assuming some banks may increase the amount of money you can put into their GIC program, but this will not affect SDS visa unless intimated by IRCC. Such decisions will be notified in advance, and not a month prior.

 

[Kritikt]

Even If got an update from Canam regarding rise in GIC limit 1st April onwards

 

[Randhjobran]

Even If got an update from Canam regarding rise in GIC limit 1st April onwards

Same here.

 

[Randhjobran]

Even If got an update from Canam regarding rise in GIC limit 1st April onwards

Can u plz tell me can we pay both fee and GIC at the same time

 

[selvakk]

Can u plz tell me can we pay both fee and GIC at the same time

What fee are you talking about ? Provided you have the finances you can pay both your tuition fee and GIC at the same time. Only once you get a certificate from your chosen bank, which will tell you that you GIC account is created will you be able to apply for the visa.

I would advise not to panic. What GIC limit are they talking about ? If it is the bank that is going to increase the limit then there is nothing to worry about. IRCC will inform before making such decisions.