Requirement Of GIC for Non-SDS/ Regular Stream

[Dynamo12]

Hi Fellow Forum Visitors,
I have recieved a Full Admit from University of British Columbia for a course which does not accept advance tution fee payment and will start accepting payments for 1st term in 2nd week of March, my question is since my only option is to apply under the non sds category because of the university rules should I get a gic or showing funds in a local account good enough? I am using my sister as my financial sponsor and my mother has gifted me some funds as well which are lying in my savings account. I have made a gift deed for that. In total I can show more than required funds for both year tution fees + Cad 20635. Should I get a Gic or am i good to go even without it?
Adding further information, I am 26 years old and applying from India. I don't have a lot of money of my own so need support from family.

 

[Naturgrl]

Hi Fellow Forum Visitors,
I have recieved a Full Admit from University of British Columbia for a course which does not accept advance tution fee payment and will start accepting payments for 1st term in 2nd week of March, my question is since my only option is to apply under the non sds category because of the university rules should I get a gic or showing funds in a local account good enough? I am using my sister as my financial sponsor and my mother has gifted me some funds as well which are lying in my savings account. I have made a gift deed for that. In total I can show more than required funds for both year tution fees + Cad 20635. Should I get a Gic or am i good to go even without it?
Adding further information, I am 26 years old and applying from India. I don't have a lot of money of my own so need support from family.

I would have you sister provide a gift deed, and gift you the money. If not, IRCC may not consider her funds/bank statements as you are 26 years old and not immediate family under IRCC rules. Or get a GIC for the full amount - tuition plus $20k. You need to show that the money is all yours and where it came from.

 

[Dynamo12]

I would have you sister provide a gift deed, and gift you the money. If not, IRCC may not consider her funds/bank statements as you are 26 years old and not immediate family under IRCC rules. Or get a GIC for the full amount - tuition plus $20k. You need to show that the money is all yours and where it came from.

In that case I guess gic is the better option to choose, I have around 9.5 lac inr equating to around cad 15000 in my savings account. I am using it as a source of fee payment. Gifted by my mother. Would that be suffice along with gic?

 

[Naturgrl]

In that case I guess gic is the better option to choose, I have around 9.5 lac inr equating to around cad 15000 in my savings account. I am using it as a source of fee payment. Gifted by my mother. Would that be suffice along with gic?

That will work. That will cover you for a couple of months in Vancouver.

 

[Dynamo12]

I would have you sister provide a gift deed, and gift you the money. If not, IRCC may not consider her funds/bank statements as you are 26 years old and not immediate family under IRCC rules. Or get a GIC for the full amount - tuition plus $20k. You need to show that the money is all yours and where it came from.

I have another 12 lacs in ppf and lic policies, the lic policies are maturing this year and ppf i can get pre closed for the purpose of higher education preferably I plan to do that in the month of March.. 7.5 lacs (cad 12000) in ppf and another 4.5 in lic policies maturing in June(this is surrender value) total money I will recieve from lic's alone would be around 12 lacs at that time .. Can. I use those as well as secondary proof of funds.??