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How do I get GICs for international students?

First, make sure you’re eligible to get a GIC for international students under the Student Direct Stream program.

Then, from your country of residence:

  • Fill out our form to open a bank account online.
  • Once you complete and submit your application, you’ll receive an email confirmation.
  • You’ll receive a secure email confirming the opening of your account* within 3 business days, in which you’ll find your bank account details.
  • After receiving your account details, or within 90 days of opening your account, you’ll need to make a wire transfer of 20,700 CAD:
    • Only one wire transfer is allowed until your identity has been confirmed by one of our advisors at a branch.
    • You won’t be able to make any further transactions or use your online bank until you arrive in Canada.
    • Remember that the 20,700 CAD belongs to you and will be returned once you arrive in Canada and identify yourself at one of our branches (16,000 CAD will be invested in various GICs, and 4,680 CAD will remain available in your account). Only a 20 CAD wire transfer fee will be deducted from the amount.
  • A Letter of Attestation – Investment Directions Confirmation* will be sent to you via secure email. This document must also be sent to Immigration, Refugees and Citizenship Canada to proceed with your application for the Student Direct Stream program.
  • Finally, schedule an in-person appointment at one of our branches as soon as possible after you arrive in Canada.

*The Letter of Attestation – Investment Directions Confirmation is confirmation that the funds have been transferred to the chequing account. It’s a written commitment on your part to invest the funds in National Bank GICs when you arrive in Canada.

When you arrive in Canada:

  • Go to your in-person appointment
  • Bring the following documents:
    • A valid passport
    • A study permit with an expiration date

For your documents to be accepted, you must present your original identification documents in good condition, valid, and in a language you understand. No photocopies, true copies or certified copies will be accepted.

  • An advisor will identify you and help you with your financial needs.
  • Your advisor will also make the GIC request required for your Student Direct Stream program. A total of $16,000 will be invested as follows:
  GIC 1 GIC 2 GIC 3 GIC 4 GIC 5 GIC 6 GIC 7 GIC 8 GIC 9 GIC 10
Amount $1,600
$1,600 $1,600 $1,600 $1,600 $1,600 $1,600 $1,600 $1,600 $1,600
Issued 30 days 60 days
90 days
120 days
150 days
180 days
210 days
240 days
270 days
300 days

When the GICs hit maturity, the money will be automatically deposited into your account. You’ll receive confirmation when your investment account has been opened and when each GIC has been issued.

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