From getting your permit approved to paying for living expenses, the Scotiabank Student GIC Program can help you plan for your education.
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.
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.
At Scotiabank, we understand that leaving your home country to move to Canada is a big decision. That's why we want to make things easier for you. When you fund a Scotiabank Student GIC with us and refer a friend or family member1 to open and fund one of their own, both of you could each earn a $100 bonus.2
A unique offer link will be emailed to you with details.
*Conditions apply. Eligible Student GIC Account holders from India only.
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:
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.*
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.
Receive a portion of your investment back each month for 12 months – approximately $667 CAD each month.
Over the 12 month period, you’ll have received your $10,000 CAD investment back, plus interest.
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.*
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.
Receive a portion of your investment back each month for 12 months – approximately $667 CAD each month.
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.
The Scotiabank Student GIC Program involves 4 key steps:
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.
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.
Get your education in Canada started right with the Scotiabank StartRight® Program3
Student banking package with no monthly fees4.
$1,000 unsecured credit card with movie rewards5-6.
Access to over 1,100 Scotiabank branches and 4,000 ABMs across Canada.
Safe and secure online and mobile banking 24/7.