Do I need to pay the GIC (Guaranteed Investment Certificate) amount for Canada visa, and is it refundable in case of visa rejection?

Yes, you must pay the Guaranteed Investment Certificate (GIC) amount of CAN$20,635 when applying for a Canadian study permit under the Student Direct Stream (SDS). This is required as proof of funds for your first year in Canada.

If your visa application is refused, the GIC amount is generally refundable. You will need to submit a refund request with documents like your study permit refusal letter. Processing fees and bank charges are non-refundable, and the refund can take up to 8 weeks.

Refund policies may differ by bank, so always review the terms from your chosen financial institution.