Student GIC Program

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If you are a student from India, learn more about the Scotiabank Student GIC Program before you apply for a Study Permit.

Learn more

At present, Scotiabank is the only Canadian financial institution that participates in the Student Partners Program (SPP) in India. Through this program, you will need to purchase a Guaranteed Investment Certificate from Scotiabank in the amount of $10,000 CAD. Other SPP application requirements may apply.

A Guaranteed Investment Certificate or GIC, is a Canadian investment that offers a guaranteed rate of return over a fixed period of time.

Do you have questions related to your Scotiabank Student GIC Program Application that was submitted under the old program (accounts set-up prior to May 1, 2014)?

Please contact Scotiabank Student GIC Customer Service toll-free at 000 800 100 8747. Our representatives in Canada are available to speak with you Monday to Friday, 9am to 8pm ET (excluding Canadian public holidays).

How it works

1. You apply

2. We open a Scotia Investment Account

3. You send money

4. We issue confirmation

5. You apply for a Study Permit

6. Welcome to Canada

7. We open an account for monthly deposits

If you have already applied for the Scotiabank Student GIC Program, find out how to request a refund if your Study Permit is declined or cancelled.

How to apply

Please refer to the VFS website and the Canadian Visa offices guidelines for Study Permit application submission dates applicable to each session intake.

Apply for the Scotiabank Student GIC Program in three easy steps:

  • Step 1

    Read the Application Program Guide in full

  • Step 2

    Download and complete your application

  • Step 3

    Submit your application by email

Be prepared

To ensure your Scotiabank Student GIC Program Application is prepared properly and processed in a timely manner, please begin by reviewing:

Complete your application

Submit your application

  1. Scan all documents in one single PDF file, in the following order:
    1. typed and signed copy of your completed application,
    2. copy of passport pages (photograph page and last page), and
    3. copy of acceptance letter from a Canadian Educational Institution
  2. Create an email, with the subject line "Scotiabank Student GIC Program - New Application - [your full name]", and attach your PDF file. Send your email to

Please note: To protect your privacy, Scotiabank will send customer sensitive information by secure email, directing you to the Scotiabank Webmail portal link (look for an email from For a step-by-step guide to using this webmail link, please refer to the Secure Email Client User Guide (735 kb).

If your Visa or Study Permit is declined or cancelled

You can only redeem your Investment/GIC prior to the Maturity Date if you provide Scotiabank with proof that:

  1. your Visa/Study Permit has been declined or cancelled; or
  2. your application for admission to a Canadian Educational Institution has been declined; or
  3. you have withdrawn enrolment from the Canadian Educational Institution.

If you withdraw from your studies in Canada, advise your Scotiabank branch that you are returning to India. Your branch will cancel the monthly GIC disbursements to your personal deposit account.

To receive a refund:

1. You apply for a refund

2. We confirm decline or cancellation

3. We wire funds to India

4. You receive your funds