What is the amount required to be deposited in the GIC account for the first year in Canada?
06 Aug 2026 · Answered by Muskan Jain · 1 min read
You need to deposit CAD 22,895 in a GIC (Guaranteed Investment Certificate) account for your first year of study in Canada if you are studying outside Quebec.
If you will study in Quebec, the required deposit is CAD 25,690.
This amount covers your living expenses for the first year and is separate from tuition fees and return transportation costs.
Cash income, business income or no ITR?
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