The initial deposit for a State Bank of India (SBI) Canada Guaranteed Investment Certificate (GIC) is typically CAD 10,000. This amount is required as part of the Student GIC Program, which international students use to meet Canadian visa financial requirements. The funds are held in a secure investment and released in installments to cover living expenses.
Applicants must transfer the deposit to SBI Canada’s designated account before applying for a study permit. The GIC earns nominal interest and is refundable if the visa is denied. Confirm current requirements with SBI Canada, as terms may change.
