Scotiabank Student gic Program

We’ve helped more international students than any other bank in Canada since 2019 in getting their study permits faster.*

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

Are you planning to study in Canada?

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

Are you planning to study in Canada?

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

Get a Scotiabank Student GIC and you could enjoy an exclusive Bell offer

GIC student

At Scotiabank, we understand that leaving your home country to move to Canada is a big decision. That is why we have teamed up with Bell, Canada's best and fastest network.1 For a limited time, eligible Student GIC customers can take advantage of this promotional phone plan offer exclusively from Bell.2

  • 20GB for $45/mo3
  • Unlimited Canada-wide calling and texting4
  • Bring Your Own Device (BYOD)5

To take advantage of this offer from Bell, get a Scotia Student GIC and a unique offer code will be emailed to you.

Conditions apply. Eligible Student GIC Account holders from India only.

What’s a GIC (Guaranteed Investment Certificate)?

A GIC is an investment 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

When you arrive in Canada and visit a branch, you will open a student bank account and have access to $2,000 CAD plus any interest deposited into your account.

Fast Chequing

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

12 month investment

Over the 12 month period, 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

When you arrive in Canada and visit a branch, you will open a student bank account and have access to $2,000 CAD plus any interest deposited into your account.

Fast Chequing

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

12 month investment

Over the 12 month period, 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 the 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 Investment Account 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 Investment Account and $200 CAD for the program fee).*
  • Submit your completed Study Permit application and your Investment Directions Confirmation to the Canadian visa authorities in your home country.
  • Once you’ve made your move to Canada, make an appointment at one of over 1,000 Scotiabank branches to open a student 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® Program6

Cash

Student banking package with no monthly fees7.

credit card

$1,000 unsecured credit card with movie rewards8-9.

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.

Learn more about the program

Ready to get started?

Have questions or need help with your application?

Our StartRight™ Program support team is here to help.

Call us

Email us

  • The Bell trademark is owned by Bell Canada and used under license.
  • *Based on the number of Scotiabank student GICs funded from 2019 to 2023 as a proportion of total GIC applications processed and approved through the Student Direct Stream (SDS) program in the same period by Immigration, Refugees and Citizenship Canada (IRCC). The SDS program assists international students in certain jurisdictions get their study permit faster with an eligible Guaranteed Insurance Certificate (GIC) from a Canadian issuer. Based on a comparison to other SDA program qualifying student GICs offered by Canadian Schedule I Banks as of August 1, 2023.
  • 1Current as of May 26, 2023. Based on a third-party score (Global Wireless Solutions OneScore™) calculated using wireless network testing in Canada against other national wireless networks. See Bell.ca/network. Bell.ca/network.
  • 2Current as of May 26, 2023. Available with new activations on Bring Your own Device on $45/20GB a month promotional plan (30-day BYOD; excludes tablets, Mobile Internet and IoT products). Additional one-time fees are subject to change over time. See bell.ca/onetimefees. for details. 20GB of data at 250 mbps. Reduced speeds are up to 512 Kbps.
  • This exclusive Bell offer is only available to select Scotiabank Student GIC customers who have received this offer directly from Scotiabank and addressed to them. Offer current as of May 26, 2023 and ends October 9, 2023. Available with compatible devices within Bell Mobility’s network coverage areas. Internet traffic management practices (ITMP) for Bell Mobility. Speed and signal strength may vary due to traffic, topography, environmental conditions and other factors, like Bell’s management of network resources, using methods which include Internet traffic management practices. See bell.ca/ITMP Services subject to acceptable use restrictions including consuming excessive network capacity or causing our network to be adversely affected. bell.ca/acceptableuse.
  • A one-time Connection Service Fee ($60) is applied on your first bill to activate your device on the Bell network. Additional one-time fees are subject to change over time. See bell.ca/onetimefees for details.
  • A provincial government 9-1-1 fee may apply where applicable: QC: $0.46/mo.46 cents per month, NS: $0.43/mo.43 cents per month, AB: $0.95/mo.95 cents per month, NB: $0.97/mo.97 cents per month, SK: $2.08/mo.2 dollar 08 cents per month, PE: $0.70/mo.70 cents per month, NL: $0.75/mo.75 cents per month, NWT: $1.70/mo.1 dollar 70 cents per month Bell remits fees withheld to government. Taxes extra. Other conditions apply. To change your rate plan at any time, log in to MyBell. This offer is non-transferable and may not be duplicated. Limit of one (1) offer per customer. All rates, fees, features and benefits are subject to change. Offer may be changed, cancelled or extended at any time and cannot be combined with any other offers except as otherwise permitted.
  • This offer is provided by Bell and made available to eligible customers of The Bank of Nova Scotia (“Scotiabank”). The purchase and use of the Bell services is governed solely by Bell’s terms and conditions. Scotiabank is not responsible for, and provides no representations, warranties or conditions regarding, this offer or any Bell products or services. Any questions or issues about this offer or the Bell products and services are to be directed to and managed solely by Bell. For more information and to contact Bell visit bell.ca/contactus.
  • 3Current as of May 22, 2023. Available with new activations on Bring Your own Device on $45/20GB a month promotional plan (30-day BYOD; excludes tablets, Mobile Internet and IoT products). Additional one-time fees are subject to change over time. See bell.ca/onetimefees for details. 20GB of data at 250 mbps. Reduced speeds are up to 512 Kbps.
  • 4Applies to calls made from Canada to a Canadian phone number or calls received from any number while you are inside Canada. Only available in Canada. Sent texts include texts sent to a Canadian phone number while in Canada and excludes texts sent to a landline, texts sent to a U.S. or international phone number, premium texts (short codes), alerts, texts sent with a messaging application and roaming (international GSM texts). Received texts include texts received while in Canada and excludes roaming, premium texts (short codes), alerts or dial-up texts received from a messaging application.
  • 5Bring-your-own-device rate plans are on a 30-day term and will continue month-to-month thereafter. Rates are subject to change. See bell.ca/mobilitytermsofservice
  • 6Scotiabank StartRight® Program, created for Canadian Permanent residents from 0–5 years in Canada, International Students and Foreign Workers.
  • 7Qualifying students are full-time students enrolled at a Canadian university, community college, Collège d'enseignement général et professionnel (CEGEP) or other recognized post-secondary institutions. To take advantage of the Student Banking Advantage Plan account benefits, you will need to provide your branch with proof that you are enrolled full-time at a qualifying postsecondary institution each academic year prior to November 30th. When you are no longer enrolled full-time or you have not presented proof of enrolment, the plan will be removed and the account will automatically be converted to an account that is suitable to you based on your recent transaction behaviour. Personal identification requirements must be met.
  • 8Subject to credit approval. To be eligible, you must be a participant in the Scotiabank StartRight® Program. To qualify for a credit card, you must be a resident of Canada and the age of majority in your province/territory where you live. Your approval for a credit card and the credit limit assigned will be determined based on Scotiabank’s credit criteria, including your verifiable income and credit history (If available). The credit limit amount of up to $5,000 under the Scotiabank StartRight® Program is subject to change by Scotiabank from time to time without prior notice. A credit history in Canada is not required in order to be eligible for a credit card under the Scotiabank StartRight® Program
  • 9SCENE VISA cardholders will receive points for purchases made with their SCENE VISA card. SCENE VISA cards must be connected to a SCENE membership in order to earn points. SCENE Points can only be redeemed at participating Cineplex Entertainment† theatres or scene.ca. Points are not awarded for cash advances, credit vouchers, returns, interest charges or service/transactions charges, balance transfers and Scotia® Credit Card Cheques. Some conditions and limitations apply. Visit www.scotiabank.com/scenevisa for complete details.