How much GIC deposit do I need for a Canadian study permit on or after September 1, 2026?
For a Canadian study permit on or after September 1, 2026, the IRCC proof-of-funds requirement for living expenses is CAD 23,448. From January 2025 to August 2026 it was CAD 22,895. Rules can change, so confirm the current amount on the official Canadian immigration website.
For applications on or after September 1, 2026, the proof-of-funds requirement for living expenses for a Canadian study permit is CAD 23,448 (approx INR 15.85 L). From January 2025 to August 2026 it was CAD 22,895 (approx INR 15.48 L). A GIC is one accepted way to show funds, not a requirement. Confirm the current amount before you apply.
Proof of funds amounts
| Application timing | Proof of funds, living expenses (CAD) |
|---|---|
| January 2025 to August 2026 | 22,895 (approx INR 15.48 L) |
| On or after September 1, 2026 | 23,448 (approx INR 15.85 L) |
Other pre-arrival costs to plan for
| Expense | Approximate cost (CAD) |
|---|---|
| Study permit application fee | 150 (approx INR 10,142) |
| Biometrics processing fee | 85 (approx INR 5,747) |
| University application fees | 100 to 250 (approx INR 6,761 to 16,902) |
| Flight tickets from India | 1,100 to 2,200 (approx INR 74,371 to 1.49 L) |
My Advice
Include your proof of funds in your plan from day one; a GIC is a common way to show it but is not compulsory. Amounts are approximate and government rules can change, so recheck the official figure close to your application date.
This information is available on: canada.ca
Cash income, business income or no ITR?
See whether your funds and documents will pass the Canadian visa check.
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