We have great news! ApplyBoard has officially teamed up with TD Bank, one of Canada’s leading financial institutions, to provide students with Guaranteed Investment Certificates (GICs) through the TD International Student GIC Program. This offering simplifies the Canadian study abroad journey and allows students applying through the Student Direct Stream (SDS) to strengthen their study permits. Keep on reading to find out what GICs are, the benefits of TD GICs, and how to apply.
Note: Currently, the TD International Student GIC Program is only available to international students from China, India, Morocco, Pakistan, Philippines, Senegal, and Vietnam.
Want to study abroad in Canada? The free-to-use ApplyBoard platform has thousands of programs and courses to choose from, in five different countries. Try it out!
Understanding GICs
A GIC, or Guaranteed Investment Certificate, is a type of investment option offered by Canadian financial institutions. By investing in a GIC, you demonstrate your ability to support yourself financially during your studies in Canada.
Cost of living expenses have increased in Canada, and as of January 1, 2024, the minimum financial requirements for students increased from C$10,000 to C$20,635. Providing proof of finances is a crucial requirement for international students applying for their Canadian study permit, and a GIC is actually mandatory if you plan on applying through the SDS.
The Benefits of TD GICs
TD GICs offer international students a variety of benefits, such as:
- No application fee: It’s free to apply, with no application fees to get in your way. And it’s quick—just a simple online application form.
- Proof of financial support: A TD GIC strengthens your financial requirement (proof of finances) for your Canadian study permit application.
- Rapid digital document verification: Through ApplyProof, ApplyBoard’s document verification platform, TD GICs can be digitally verified in seconds.
- Investment protection: Your money is safeguarded by the Canada Deposit Insurance Corporation.
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- Fixed interest rate: You’ll earn some extra money, thanks to a guaranteed interest rate throughout your investment term.
- TD Student Chequing Account: This account comes with no monthly plan fee (conditions apply), unlimited transactions, and additional benefits.
- Accessible Banking: TD has longer branch hours, and over 1,000 branches coast to coast. Advisors also speak over 80 languages, with banking services available online and through the TD app.
Find out more about GICs and how they can help you study in Canada.
Streamlined Application Process
Applying for a TD GIC is easy using the ApplyBoard platform:
- Fill out a simple online application to open a TD GIC and Student Chequing Account.
- Complete your application and connect with a TD advisor.
- Deposit funds into your GIC account.
- Download your TD GIC certificate on ApplyProof.
- Include your certificate in your study permit application .
Tip: In addition to TD GICs, you can also access tools and student resources from TD Bank to support your studies in Canada.
We get it. Preparing to study in Canada can feel like a lot to keep track of. However, ApplyBoard’s collaboration with TD Bank can help you simplify the financial aspect of studying abroad. We hope that the TD International Student GIC Program will help you on your journey.
Ready to take the next step? Check out the TD International Student GIC Program for yourself, and begin your application process today!
