Invest Smart Today for a Secure Tomorrow
Open your GIC bank account with ease and ensure a smooth, secure financial experience while studying abroad. A Guaranteed Investment Certificate (GIC) is your key to meeting visa requirements, managing living expenses, and building a stable financial foundation in countries like Canada. With fast processing, transparent procedures, and trusted banking partners, getting your GIC through Fundmystudy ensures convenience, safety, and complete peace of mind.
Guaranteed Investment Certificate (GIC) Account for Study Abroad
At Fundmystudy, we’re committed to making your study abroad journey seamless from start to finish. That’s why we’ve partnered with the Royal Bank of Canada (RBC) to help you open your Guaranteed Investment Certificate (GIC) account quickly, securely, and without the stress. If you’re planning to study in Canada, a GIC is essential—it acts as your financial proof, ensuring you’re ready and fully supported for your academic journey.
As per Immigration, Refugees and Citizenship Canada (IRCC) guidelines under the Student Direct Stream (SDS), every student must invest CAD 20,635 in a GIC with an authorised Canadian bank. This amount serves as proof of funds and helps streamline your visa application process.
Let Fundmystudy handle the documentation and coordination, so you can focus on preparing for the exciting new chapter that awaits you in Canada!
Step-by-Step Guide to Getting Your GIC with RBC
Before You Arrive in Canada
Step 1: Apply Online
Start by submitting your application for the RBC International Student GIC Program online.
Once your application is approved, RBC will open your Investment Account within three business days, where your GIC funds will be held.
Step 2: Transfer Your Funds
After you receive confirmation that your Investment Account is active, make a one-time international wire transfer to deposit the required GIC amount set by IRCC, along with applicable fees. This includes:
The minimum GIC amount required by IRCC
RBC one-time handling fee of CAD 200
International wire transfer charges (varies by bank)
Note: Your wire transfer cannot exceed CAD 30,000.
Once RBC receives your transfer, they will email you the RBC GIC Contribution Details (Investment Confirmation)—a mandatory document for your Student Direct Stream (SDS) study permit application.
After You Arrive in Canada
Step 3: Visit the Royal Bank of Canada (RBC)
When you land in Canada, schedule an appointment at your nearest RBC branch. Remember to bring:
Your passport
Your study permit
RBC will verify your identity and activate your GIC disbursement schedule. You can also open a personal deposit account during this appointment, where your GIC payments will be credited.
Once your personal account is active:
Your full GIC amount (principal + interest) is redeemed.
You’ll receive an initial lump sum deposit.
The remaining balance is placed into a Subsequent GIC, which pays out over 12 equal monthly installments, each including the applicable interest—fulfilling SDS program requirements.
Why Choose RBC for Your Student GIC in Canada?
RBC is one of Canada’s most trusted and established banks, supporting international students and newcomers for over 150 years.
Student-focused banking made easy: RBC offers flexible, no-monthly-fee accounts designed specifically for full-time students, helping you manage your finances stress-free.
A mobile app created for students: The RBC Mobile Student Edition provides quick, simplified access to essential features, making everyday banking effortless.
Access your money anytime, anywhere: With Canada’s largest combined branch and ATM network, RBC ensures convenient and reliable access to your funds across the country.
Why Choose Fundmystudy to Open Your RBC GIC Account?
Quick Approval: Securing a student GIC can feel overwhelming, but Fundmystudy makes the process simple. Our experts connect directly with the bank to help resolve your queries quickly and ensure smooth approval.
Easy & Hassle-Free Process: Just fill out a short form on our website, and our trusted advisors will reach out to guide you through every step—no confusion, no delays.
100% Free Assistance: Fundmystudy offers completely free support. We do not charge students for helping them open their GIC accounts or assisting with related requirements.
Reliable & Student-Focused: With Fundmystudy, you can count on a secure and seamless experience. Our dedicated team ensures your funds are safe, your process is smooth, and you can begin your study abroad journey with complete peace of mind.
Required Documents for Opening an RBC GIC Account
To apply for the RBC International Student GIC Program, make sure you have the following documents ready:
A valid, unexpired passport
Your official letter of acceptance from a designated Canadian learning institution
A completed RBC International Student GIC Program application form
A scanned copy of the photo page of your passport
Your Tax Identification Number (TIN)