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TD International Student GIC Program

If you are an international student from a qualifying country and need a Guaranteed Investment Certificate (GIC) to meet Canada's Student Direct Stream (SDS) study permit guidelines, the TD International Student GIC Program can help you show proof of funds required for your Canadian visa application.

Here’s why International Students choose TD

  • No application fee

    No application fee1 when you apply for the TD International Student GIC. It's a simple online application to open both a TD Student Chequing Account and a TD International Student GIC.

  • Competitive GIC Rates

    Start earning interest at a competitive rate even before arrival in Canada.

  • Unlimited wire payments

    You can send multiple wires for the initial GIC purchase of $20,635 and as many wires as you want up until the time of your arrival in Canada.

  • Track your status online

    Monitor your account and GIC using online banking even before arrival in Canada with TD EasyWeb.

How to get your GIC

The TD International Student GIC Program involves four key steps

  • Step 1. Submit your application online

    Complete an online application to open a TD Student Chequing Account and a TD International Student GIC. Once you have successfully submitted the application and completed the ID verification process, you will receive information about your TD Student Chequing Account and wire payment instructions.

     

  • Step 2. Transfer Funds to your TD account

    Fund your TD Student Chequing Account by sending a wire payment (or multiple wire payments) with a minimum of CAD $20,635 plus incoming wire payment fees. These funds must be received by TD within 90 days of account opening. 

    You may send additional wire payments of any amount to your TD Student Chequing Account until you arrive in Canada.

  • Step 3. Fund your TD International Student GIC

    Once TD receives your wire payment(s), CAD $20,635 will be invested in a TD International Student GIC, and a Confirmation of Investment will be sent to you by email. Any remaining funds will be in your TD Student Chequing Account.

     

  • Step 4. Visit a TD branch to activate your account and access your money

    Once you've arrived in Canada, book an appointment at one of our 1,000+ branches to confirm your identity, sign the required documentation and activate your accounts.

    We will then redeem the sum of CAD $6,135 plus any accrued interest from your GIC and deposit it into your TD Student Chequing Account. The remaining funds will be redeemed in accordance with the GIC Payment Schedule in the amount of $1,450 plus any accrued interest over the subsequent 10 months.

Apply now

For more details, including information on the pre-arrival application process, download the International Student GIC Program Guide.

Frequently asked questions

To be eligible to participate in the TD International Student GIC Program, you must:

  • Meet the eligibility requirements of the Government of Canada Student Direct Stream (SDS) Program
  • Be an individual who is planning on studying at a post-secondary designated learning institution in Canada
  • Be a minimum of 18 years of age at the time of application
  • Not be opening an account on behalf of a third party

Yes, you may use the same TD International Student GIC to re-apply for a study permit as long as you have confirmed that the GIC you received meets the prevailing study permit requirements and you are able to complete our program requirements at a TD Canada Trust branch within 365 calendar days from the date of opening the TD Student Chequing Account. If our program requirements are not met within 365 calendar days from the date of chequing account opening, both the TD Student Chequing Account and GIC account will be closed, and all funds will be returned to the account(s) from which you sent to us the wire payment(s). You will be charged a wire return fee in the amount of CAD $25. If you have sent multiple wire payments, all money will be returned to the original account(s) it came from and you will be subject to multiple wire return fees of CAD $25 for each return (even if the funds came from the same account). These fees will be deducted from the amount of the funds being returned to you. Other banks or financial institutions involved in transferring the funds may charge additional fees to the recipient of the funds.

Your TD Student Chequing Account must be funded by a wire payment within 90 calendar days of opening the account to remain open. Accounts not funded within 90 calendar days will be automatically closed.

Yes. Funds can be wired from the account of family or friends.

If your study permit application is rejected by the Government of Canada or if you decide not to attend school in Canada for another reason, you can contact us at one of the numbers listed below to request a refund of the funds you wired to us (subject to the terms and conditions of your initial application of the TD International Student GIC Program). Please note, you will also be charged wire return fees in the amount of CAD $25 for each return. These fees will be deducted from the amount of the funds being returned to you.

Other banks or financial institutions involved in transferring the funds may charge additional fees to the recipient of the funds. For additional information on funds that need to be converted from Canadian dollars to a foreign currency, please refer to Financial Service Terms section 2.10 How do we handle foreign currency?

Call toll-free from India: 000-800-040-4681

Call from anywhere: +1-416-351-0613
Contact your local phone operator to place a free collect call.

Please bring your valid foreign passport, a proof of enrollment from a post-secondary designated Canadian learning institution (or a student ID card) and study permit (i.e. IMM 1208). 

For students studying in the Province of Quebec, a Quebec Acceptance Certificate (CAQ) is also required in addition to the documents noted above.

Convenient banking solutions for students

Discover TD banking solutions and resources to help you gain confidence about staying on top of your finances while studying in Canada.

  • TD Student Chequing Account

    Designed specifically for students, enjoy no monthly fee and unlimited transactions included, so you can focus on school.

     

  • TD Credit Cards for students

    Explore the range of TD credit cards for students that can help to build credit when you’re enrolled in post-secondary studies. 

     

  • TD International Student Banking Package

    Take advantage of our $9002 in value offer for international students designed to meet your banking needs as you focus on your studies in Canada! Conditions apply.

Ready to get started?

  • Start Your Online Application

    To make the process simpler and more efficient, you can now apply online.

    Apply now

  • Call us anytime

    Toll-free calls from India

    Available for free, 24/7

    000-800-040-4681 000-800-040-4681

  • Call from anywhere

    English and French 

    Contact your local phone operator to place a toll-free call. Fees will apply for direct calls.

    +1-416-351-0613 +1-416-351-0613