1. Scotiabank Student GIC Program

2. Important Dates - Subject to Change
Scotiabank will receive GIC Applications from students throughout the year and issue confirmations subject to funds being received. However please NOTE that it takes around 10 Business Days to process a GIC application to completion.
Please take this into consideration and apply in sufficient time to receive your GIC so that you can meet the study permit application deadlines for the various semester intakes observed by the Canadian High Commission in New Delhi.
Please refer to the VFS website ( and the Canadian
visa offices guidelines for Study Permit application submission dates applicable to each session intake.
For indicative purposes only, please see the guidelines for cut off dates for your wire transfer below for
each session intake.
Intake Period
Wire Transfer Deadline – suggested GIC funding cut-off date at Scotiabank Canada for Study Permit application processing by visa offices
Fall 2013
(August/September)
July 26, 2013
Winter
(December/January)
November 22, 2013

3. Frequently Asked Questions
Q. Where can I find the application form for the Scotiabank Student GIC Program?
The form is available on the Scotiabank website.
Please follow the link:
The form is available under the “How to apply" tab.

4. Frequently Asked Questions
How should the application be submitted?
Applications should be sent from the Student Applicant from the account indicated on their application form. Scotiabank will not correspond to the applicant through any other .
The application form must be TYPED, signed and then scanned with all other requested documents into ONE SINGLE PDF File.
The completed application package (in ONE SINGLE PDF File) should then be sent to with “Scotiabank Student GIC Program” in the subject line of the .

5. Frequently Asked Questions
Q. What is the timeframe for the entire GIC application process?
A. Applicants must plan for approximately 10 Business Days it will take from the date that Scotiabank receives an application to the date that the funded GIC confirmation is issued.
Please respect the GIC application processing times, usually as follows:
- GIC confirmation will be sent usually within 5 Business Days from receipt of application.
- Once customer transfers money, it usually takes 3 business days for the GIC to be funded.
- The confirmation will be sent usually within 2 Business Days after the GIC is funded.

6. Frequently Asked Questions
Can funds be transferred from other banks apart from Scotiabank or Kotak Mahindra Bank branches in India?
Yes, the funds can be wire transferred from ANY bank in India where the applicant holds their banking account.
Can the GIC be deposited by anyone other than the student applicant?
No. Funds must be deposited in the GIC by the student applicant. In the event of a refund, the money will be returned to the student’s bank account at the bank from where the original remittance was made.
Q. Can a “third party” (someone other than the account holder) follow up with Scotiabank in regards to my application?
For reasons of privacy, we are unable to disclose any information to anyone other than the account holder.

7. Frequently Asked Questions
Q. How will Scotiabank correspond with the applicant?
In order to protect customers’ privacy, Scotiabank will only correspond directly with the student applicant at the account indicated in their original account application. Sensitive customer information - including account details - are sent directly to the customer using an encryption program. s sent using Scotiabank’s encryption program will be sent from with a webmail portal link. Clicking on this link will launch the applicant’s web browser.
The applicant will be required to register first by clicking the “Register now” link for the first time.
The Webmail portal will send a temporary password to the applicant in order to complete the registration; they will need to click the “Scotiabank Secure System” link; this will take them back to the Secure login page. Note the temporary password will be required for initial log in to the Secure system.
Once the applicant enters the temporary password they will be forced to change the temporary password; applicants must ensure to note the new password they assign their account;
After completing the registration process the applicant will be able to view the Webmail inbox and read their secured .
Note: Secure s will be held for viewing for 30 days before automatic deletion.

8. Frequently Asked Questions
Q. How does an applicant receive a refund if their Study Permit is refused or they withdraw from the institution?
A. Full redemption of the outstanding principal of the GIC cannot occur prior to the Maturity Date unless they provide us with proof that:
- Their Study Permit has been declined; or
- Their application for admission to a Canadian educational institution has been declined; or
- They have withdrawn from enrolment at the Canadian educational institution after arrival in Canada.
All requests for a refund will be processed ONLY AFTER the Canadian High Commission confirms to Scotiabank that the Study Permit has been refused or cancelled.
For processing a refund, Scotiabank Canada requires the following documents to be ed in one(1) single PDF file to
- 3 pages of the refusal letter as provided by the Canadian High Commission;
- Original Telegraphic Transfer (wire transfer) Receipt;
- Completed Refund Wire Transfer Form (found in the “How to request a refund” tab of Scotiabank’s website)
Note: The subject line of your should state: “Refund Request - IP number, passport number and date of birth.” Upon receiving a request for a GIC Refund, Scotiabank seeks confirmation from the Canadian visa authorities in India. Transfer of funds may take up to 8 weeks from the date the request is received from the applicant.

9. Frequently Asked Questions
Can an account that was opened for an earlier study permit application, but was never funded (and thus no Study Permit applied for) be used for a later school term and Study Permit application?
Can an applicant that has funded an existing Scotiabank Student GIC Program account intended for say, the January 2013 term use the existing GIC certificate (Investment Direction) to apply for a Study Permit for a later session?
Yes, students may use their existing GIC Certificate (Investment Direction) for a new Study permit application. The Canadian High Commission will validate the GIC with Scotiabank directly.

10. STUDENTS – Scotiabank Welcome Letter

11. STUDENTS – GIC Payments in Canada

12. STUDENTS – Refund Wire Transfer Form
The Form is found on our Scotiabank website under “How to Request a Refund” section
Ensure form is filled out completely and with accurate information
Failure to do so may cause a delay in the processing of the refund

13. AGENTS: Important information for students
To ensure timely processing of the students’ Scotiabank Student GIC Application
STEPS TO FOLLOW
STEPS TO AVOID (delay/rejection of application)
Allow for sufficient processing times. See IMPORTANT DATES on our website to confirm these dates prior to submitting an application
Please do NOT follow up with requests to process your application sooner.
Ensure the GIC application and any subsequent request is sent from the address input in the student’s original GIC application
Please ensure student address is correctly input in the application. All communications will be sent to the student at this address only
Send applications in the prescribed format from the address included in the student’s GIC application. All communications will be addressed to this only
Do NOT use an address other than the one input in the GIC application
Do NOT hand write the application - these will NOT be accepted. (Please use the electronic version only)
Scan all requested documents (Application Form /Passport Copy/Acceptance Letter) in one (1) single PDF file
Do NOT send duplicate application forms (more than once). This slows the processing time and delays all students’ applications. Applications received in the same student’s name more than once, will be REJECTED
Ensure they have signed their Scotiabank Student GIC Program Application Form before scanning it with their other application documents
Do NOT follow up with their request through any other channel other than

14. AGENTS: Important information for students
To ensure timely processing of the students’ Scotiabank Student GIC Application
STEPS TO FOLLOW
STEPS TO AVOID (delay/rejection of application)
Only applications submitted to will be processed
If the GIC application is incomplete or any additional details are required, we will the student at the address provided in the GIC application
Do NOT send application forms to multiple addresses.
We will NOT process applications ed to any other address
Only funds transferred from the student’s bank account in India will be accepted for funding the GIC.
We will NOT accept funds deposited by a third party deposit into their GIC Investment account on behalf of the student
Do NOT transfer funds from any account other than their own bank account in India
ed requests for REFUNDS must:
include in the Subject Line – Student Name, GIC Number, Passport Number and Date of Birth
attach in a SINGLE PDF File the Refusal Letter issued by the Canadian Visa Office in India, along with copy of TT receipt
provide details of the Bank and Account Number from which the money was originally sent to fund the GIC
Do NOT send multiple follow-up s, after requesting a refund. Transfer of funds may take up to 8 weeks from the date the request is received by us, to allow time for refund confirmation from the Canadian visa authorities

15. Q&A
Thank You!
Questions? Please your general queries to