Menu
Menu
Menu
ApplyBoard is so much more than an application platform. It’s your full-service toolbox, giving you new ways to grow your business and offer students peace of mind. Use these innovative programs to guide students through their whole journey, from application to arrival.
ApplyBoard is so much more than an application platform. It’s your full-service toolbox, giving you new ways to grow your business and offer students peace of mind. Use these innovative programs to guide students through their whole journey, from application to arrival.
Once you have a letter of acceptance from an eligible Canadian institution, apply online for your GIC below. Once approved, an RBC advisor will reach out to open your new RBC Investment Account. After you wire transfer funds into it, you’ll get a verifiable document to use as Proof of Financial Support on your Canadian Study Permit application. It’s that easy!
Benefits of Purchasing a GIC from RBC
Strengthen your study permit application and increase Immigration Officials’ trust in your Proof of Financial Support document with ApplyProof’s verification technology.
The Guaranteed Investment Certificate (GIC) fulfills the Proof of Financial Support requirement for a Canadian Study Permit application.
Access a wide range of services and offers for newcomers to Canada, through RBC’s digital banking solutions and over 1,100 RBC Royal Bank branches across the country.
Earn interest at a guaranteed, fixed interest rate over the term of your investment.
Your investment is protected by the Canada Deposit Insurance Corporation.
Strengthen your study permit application and increase Immigration Officials’ trust in your Proof of Financial Support document with ApplyProof’s verification technology.
The Guaranteed Investment Certificate (GIC) fulfills the Proof of Financial Support requirement for a Canadian Study Permit application.
Access a wide range of services and offers for newcomers to Canada, through RBC’s digital banking solutions and over 1,100 RBC Royal Bank branches across the country.
Earn interest at a guaranteed, fixed interest rate over the term of your investment.
Your investment is protected by the Canada Deposit Insurance Corporation.
STEP 1
Complete and Submit your Application
STEP 2
Open Acccount
STEP 3
Transfer Funds
STEP 4
Obtain GIC
Once you receive the email confirming that your Investment Account has been opened, you will need to send RBC a single, one-time international wire transfer to pay the minimum GIC amount established by Immigration, Refugees and Citizenship Canada (“IRCC”) plus any applicable fees mentioned below. Your single, one-time international wire transfer cannot exceed CAD 30,000. The minimum amount established by IRCC is currently CAD 20,635, except for the province of Quebec. SDS applicants who intend to study in Quebec must meet Quebec’s minimum financial requirement; this amount can be found here.
Your wire transfer amount will cover the following**:
**Once we receive your wire transfer, we will deduct the CAD 200 handling fee. The balance, less any non-RBC fees and charges that may be charged by other financial institutions involved in your wire transfer, will be the amount invested as principal for your Initial GIC. For example, if you wire CAD 20,900, and non-RBC IWT fees and charges total CAD 25, your Initial GIC will be issued with a principal investment amount of CAD 20,675 (CAD 20,900 wire transfer less CAD 200 RBC handling fee and CAD 25 in non-RBC IWT fees and charges).
After receiving your account details from RBC, you may directly contact your assigned RBC advisor for all questions relating to your application. To help you receive a quick response, you must ensure that you include in the email all the information available on your application form such as SRF # and full name, as well as date of submission.
Absolutely! To receive a refund, you will need to provide proof of study permit rejection and submit a request to your RBC advisor. You will receive a refund your one-time deposit, minus the $200 CAD handling fee which is unfortunately non-refundable.
Once you arrive in Canada, you can visit an RBC branch (with some identifying documents) to open a chequing account. You will then receive an initial lump payment into your new account. Monthly payments from your GIC will be deposited into your account until the GIC is redeemed in full.
If you wish to defer your start date, please notify your RBC advisor and they will assist you in updating your GIC.
After your payment is received by RBC, it will take 3 business days to process and receive a verifiable GIC certificate from RBC on the ApplyProof platform.
ApplyProof is a platform developed by ApplyBoard that builds trust in the international enrolment process through secure, efficient verification of student documents.Immigration Officials can verify your original proof of financial support through the ApplyProof platform, increasing trust in your study permit application.
ApplyProof is a platform developed by ApplyBoard that builds trust in the international enrolment process through secure, efficient verification of student documents.Immigration Officials can verify your original proof of financial support through the ApplyProof platform, increasing trust in your study permit application.
About RBC International Student GIC Program
Operating since 1869, RBC is Canada’s biggest bank, the fifth largest in North America, and one of the largest banks in the world by market capitalization. Today, RBC has over 1100 branches across Canada, offering them a wide range of services.