Continuing your education in Canada as an international student can be a big task. In addition to preparing to live in a new country to take challenging courses, study permit applicants must also meet a number of government requirements.
Through the launch of a new referral program, HDFC Bank and TD are streamlining the process of opening a TD Guaranteed Investment Certificate (GIC), enabling students to conveniently comply with the Government’s Student Direct Stream (SDS). from Canada.[1] study permit route, for accelerated processing of the study permit.
HDFC Bank is India’s leading private sector bank. TD is Canada’s second-largest bank by assets and, since 2015, has acted as HDFC’s primary correspondent banking partner for Canadian dollar clearing.
What is Direct Streaming for Students?
Student Direct Stream (SDS) is a fast-track study permit pathway for eligible students from India and 13 other countries. While current processing times for normal study permits are 10 weeks, the government aims to process those applying under the SDS in 20 calendar days.
As part of Immigration, Refugees and Citizenship Canada (IRCC) requirements to apply through the SDS pathway, students must provide “proof of financial support” by obtaining a GIC from a participating Canadian financial institution.
Benefit from TD’s GIC Program for International Students
How does this referral program support Indian international students?
As part of the partnership, HDFC Bank will refer students planning to study in Canada to GIC Program for TD International Students which provides students:
- TD International Student GIC: Designed to meet the needs of the Government of Canada’s Student Direct Stream (SDS) pathway for study permits, with no application fees, a simple online application process, and the ability to start earning interest before you even arrive in Canada .
- TD Student Checking Account: No monthly fees (up to age 23 or with proof of full-time post-secondary education enrollment), unlimited transactions, and additional benefits.
Once students arrive in Canada, they will benefit from the ease, value and trusted advice that TD is known for. Benefits under this Program will include:
- Accessible banking: TD has longer branch hours than any other Canadian bank, with more than 1,000 branches from coast to coast and advisors who speak more than 80 languages, including Hindi, Punjabi, Tamil, Gujarati and Urdu. Banking services are also available online and at your fingertips with the TD app.
- Ready Tips: Whether students are looking for expert advice on managing everyday expenses or long-term financial planning, TD colleagues are here to help, both in the branch and over the phone.
Learn more about TD’s international student banking package
To learn more about how the TD International Student GIC program works, visit this Web page.
For residents of India, to learn more about HDFC Bank and the TD program, visit this Web page.
[1] https://www.canada.ca/en/immigration-refugees-citizenship/services/study-canada/study-permit/student-direct-stream.html
reference: www.cicnews.com