What is the purpose of the GIC (Guaranteed Investment Certificate) account for Canadian student visa?
24 Aug 2026 · Answered by Hardika Gautam · 1 min read
The purpose of the Guaranteed Investment Certificate (GIC) account for a Canadian student visa is to prove you have enough funds to cover your first year of living expenses in Canada. This strengthens your study permit application by demonstrating financial readiness to Immigration, Refugees and Citizenship Canada (IRCC).
You deposit a fixed amount (around CAD 22,895) into a GIC account before applying. After arrival, the bank releases part of the funds upfront and the rest monthly over 10 months, ensuring you have steady access to money during your studies.
While not mandatory for everyone, a GIC is highly recommended as a trusted proof of funds for Indian students.
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