Showing Proof of Financial Support Just Got Easier

ApplyProof has partnered with the Royal Bank of Canada (RBC) to offer secure, easily verifiable Guaranteed Investment Certificates (GICs) for international students.

Strengthen your study permit application with a trusted GIC from Canada’s largest bank! 

How It Works

Once you have a letter of acceptance from an eligible Canadian institution, apply online for your GIC below. Once approved, an RBC advisor will reach out to open your new RBC Investment Account. After you wire transfer funds into it, you’ll get a verifiable document to use as Proof of Financial Support on your Canadian Study Permit application. It’s that easy! 

Learn more about GICs

Benefits of Purchasing a GIC from RBC

Strengthen your study permit application and increase Immigration Officials’ trust in your Proof of Financial Support document with ApplyProof’s verification technology.

The Guaranteed Investment Certificate (GIC) fulfills the Proof of Financial Support requirement for a Canadian Study Permit application.

Access a wide range of services and offers for newcomers to Canada, through RBC’s digital banking solutions and over 1,100 RBC Royal Bank branches across the country.

Earn interest at a guaranteed, fixed interest rate over the term of your investment.

Your investment is protected by the Canada Deposit Insurance Corporation.

GIC Application Steps

Complete and Submit your Application

  • Download the Application Package
  • Read, complete and sign the RBC International Student GIC Program Application Form and other documents included in the package
  • Complete the webform below and upload your completed Application Package, passport and letter of acceptance from an eligible Canadian school
  • Submit your application and supporting documents online within the form
  • Receive an email from noreply@applyboard.com and confirm your email address by clicking the button in the body of the email

Open Investment Account

  • An RBC advisor will contact you directly by RBC Secure Email once your RBC Investment Account has been opened
  • Register for RBC Secure Email to obtain your Investment Account opening confirmation and detailed international wire transfer instructions

Transfer Funds to Purchase your RBC GIC

  • Send RBC a single one-time international wire transfer for the purchase of your RBC GIC and applicable fees.

Obtain GIC Confirmation on ApplyProof

  • Receive, access and download your verifiable RBC Contribution Details document, which serves as proof of your investment and sets out relevant details about your GIC, through the ApplyProof Platform

What is ApplyProof?

Complete and Submit your Application

  • Download the Application Package
  • Read, complete and sign the RBC International Student GIC Program Application Form and other documents included in the package
  • Complete the webform below and upload your completed Application Package, passport and letter of acceptance from an eligible Canadian school
  • Submit your application and supporting documents online within the form
  • Receive an email from noreply@applyboard.com and confirm your email address by clicking the button in the body of the email

Open Investment Account

  • An RBC advisor will contact you directly by RBC Secure Email once your RBC Investment Account has been opened
  • Register for RBC Secure Email to obtain your Investment Account opening confirmation and detailed international wire transfer instructions

Transfer Funds to Purchase your RBC GIC

  • Send RBC a single one-time international wire transfer for the purchase of your RBC GIC and applicable fees.

Obtain GIC Confirmation on ApplyProof

  • Receive, access and download your verifiable RBC Contribution Details document, which serves as proof of your investment and sets out relevant details about your GIC, through the ApplyProof Platform

What is ApplyProof?

Ready to Submit an Application?

Submit Your Application

Download and complete the Application Package and upload it, along with your passport and letter of acceptance, within the form below.

Frequently Asked Questions

Once you receive the email confirming that your Investment Account has been opened, you will need to send RBC a single, one-time international wire transfer to pay the minimum GIC amount established by Immigration, Refugees and Citizenship Canada (“IRCC”) plus any applicable fees mentioned below. Your single, one-time international wire transfer cannot exceed CAD 30,000. The minimum amount established by IRCC is currently CAD 20,635, except for the province of Quebec. SDS applicants who intend to study in Quebec must meet Quebec’s minimum financial requirement; this amount can be found here.

Your wire transfer amount will cover the following**:

  • The purchase of your initial GIC;
  • RBC One-Time Handling Fee of CAD 200; and
  • Non-RBC International Wire Transfer (IWT) Fees and Charges (which may be charged by third parties involved in the international wire transfer process). Such amounts may vary.

**Once we receive your wire transfer, we will deduct the CAD 200 handling fee. The balance, less any non-RBC fees and charges that may be charged by other financial institutions involved in your wire transfer, will be the amount invested as principal for your Initial GIC. For example, if you wire CAD 20,900, and non-RBC IWT fees and charges total CAD 25, your Initial GIC will be issued with a principal investment amount of CAD 20,675 (CAD 20,900 wire transfer less CAD 200 RBC handling fee and CAD 25 in non-RBC IWT fees and charges).

After receiving your account details from RBC, you may directly contact your assigned RBC advisor for all questions relating to your application. To help you receive a quick response, you must ensure that you include in the email all the information available on your application form such as SRF # and full name, as well as date of submission.

Absolutely! To receive a refund, you will need to provide proof of study permit rejection and submit a request to your RBC advisor. You will receive a refund your one-time deposit, minus the $200 CAD handling fee which is unfortunately non-refundable.

Once you arrive in Canada, you can visit an RBC branch (with some identifying documents) to open a chequing account. You will then receive an initial lump payment into your new account. Monthly payments from your GIC will be deposited into your account until the GIC is redeemed in full.

If you wish to defer your start date, please notify your RBC advisor and they will assist you in updating your GIC.

After your payment is received by RBC, it will take 3 business days to process and receive a verifiable GIC certificate from RBC on the ApplyProof platform.

This program is currently only available to international students from

Colombia

Brazilian flag set into a circle

Brazil

Costa Rican flag in a circle

Costa Rica

India

Peru

ApplyProof is a platform developed by ApplyBoard that builds trust in the international enrolment process through secure, efficient verification of student documents.Immigration Officials can verify your original proof of financial support through the ApplyProof platform, increasing trust in your study permit application.

About RBC

Operating since 1869, RBC is Canada’s biggest bank, the fifth largest in North America, and one of the largest banks in the world by market capitalization. Today, RBC has over 1100 branches across Canada, offering them a wide range of services.