Recently, ICICI Bank Canada rolled out its Student GIC Initiative or program that centers at helping students who visions to study in Canada. GIC is the abbreviation of Guaranteed Investment Certificate.
Those applying for study permit under SPP (student partner program) will have to invest in the Guaranteed Investment Certificate with a Canadian bank. The GIC is of Canadian $ 10,000.
According to sources, ICICI Bank Canada is the first ever bank of Indian origin that got authorized to accept GIC from students of India. ICICI has broadened its operations. Thus, the branches of ICICI bank are spread in different countries overseas.
Under this program, the Indian students are enabled to fulfill all the prerequisites of purchasing the Guaranteed Investment Certificate by transferring funds from their Indian bank account to their ICICI Bank Canada account.
According to this program, while the student would be studying in Canada, the amount would be paid back to him/her in 12 installments.
The application process is as follows:
1. Visit icicibank.ca to get registered online.
2. Submit the application form.
3. Transfer C$10,000 plus C$ 150 (processing fee) in the ICICI Bank Canada account.
4. After reaching Canada, complete all the documentation formalities there.
With this, you can easily apply for the GIC program and fulfill your desires and dreams to study in Canada.