Scotiabank Student gic Program

We’ve helped more international students get their study permit than any other bank in Canada.

From getting your permit approved to paying for living expenses, the Scotiabank Student GIC Program can help you plan for your education.

Are you a student from China, India, Vietnam or the Philippines?

Plan your studies in Canada with the Scotiabank Student GIC Program. It can help you meet the requirements of the Citizenship and Immigration Canada guidelines faster by showing proof of funds – and provide you with access to money to help pay for living expenses while you’re studying in Canada.

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What’s a GIC (Guaranteed Investment Certificate)?

A GIC is an investment account that offers a guaranteed interest rate over a fixed period of time. With the Scotiabank Student GIC Program you can invest between $10,000 CAD – $50,000 CAD.

Here’s an example of how it works:

Cash

Wire transfer $10,200 CAD to Scotiabank in Canada. $10,000 CAD will be deposited into your Scotiabank Investment Account and $200 CAD will pay for the program fee.

Large amounts of cash

Have $2,000 CAD plus any interest deposited into your student bank account when you arrive in Canada.

Fast Chequing

Receive a portion of your investment back each month for 12 months – approximately $667 CAD each month.

12 month investment

After 12 months, you’ll have received your $10,000 CAD investment back, plus interest.

Cash

Wire transfer $10,200 CAD to Scotiabank in Canada. $10,000 CAD will be deposited into your Scotiabank Investment Account and $200 CAD will pay for the program fee.

Large amounts of cash

Have $2,000 CAD plus any interest deposited into your student bank account when you arrive in Canada.

Fast Chequing

Receive a portion of your investment back each month for 12 months – approximately $667 CAD each month.

12 month investment

After 12 months, you’ll have received your $10,000 CAD investment back, plus interest.

Interest rates paid on GICs are subject to change. View our current GIC rates.

How it works.

The Scotiabank Student GIC Program involves 4 key steps:

Coming from China?

In addition to applying online, you also have to option of applying through our partner banks. They’ll work with you to ensure your application is filled out correctly and submit it to Scotiabank on your behalf.

  • Send a wire transfer for $10,200 CAD from a financial institution in your home country to Scotiabank in Canada ($10,000 CAD for your Scotiabank InvestmentAccount and $200 CAD for the program fee).
  • We’ll send you a confirmation email with the “Investment Directions Confirmation” when funds are in your Scotiabank Investment Account.
  • Send a wire transfer for $10,200 CAD from a financial institution in your home country to Scotiabank in Canada ($10,000 CAD for your Scotiabank InvestmentAccount and $200 CAD for the program fee).
  • a
    • Submit your completed Study Permit application and your Investment Directions Confirmation to the Canadian visa authorities in your home country.
  • We’ll send you a confirmation email with the “Investment Directions Confirmation” when funds are in your Scotiabank Investment Account.
  • One you’ve made your move to Canada, make an appointment at one of over 1,000 Scotiabank branches to open a bank account and complete the Scotiabank Student GIC Program process.

Have more questions about the process?

Checkout the Scotiabank Student GIC Program Guide for details on how to request a refund in the event your study permit is declined or cancelled and answers to other frequently asked questions.

So much more than a study permit.

Get your education in Canada started right with the Scotiabank StartRight® Program1

Cash

Student banking package with no monthly fees2.

credit card

$1,000 unsecured credit card with movie rewards3-4.

scotia branches

Access to over 1,100 Scotiabank branches and 4,000 ABMs across Canada.

online bank

Safe and secure online and mobile banking 24/7.

Ready to get started?