WebNov 3, 2024 · A GIC is required when you are doing the expedited student visa with Student Direct Stream. It is optional for regular student visa applicants. The minimum to open a GIC is $10,000 CAD/ ₹6,05,720 INR. This is also the minimum amount the Canadian authorities will want to see for a GIC for a Student Direct Stream application. WebNov 3, 2024 · GICs are often referred to as term deposits because your money is tied up for a certain period of time. GIC terms can range from 30-days, as with short-term GICs , to 10 years, with long-term GICs.
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