The BOCC student GIC program can help you meet the study permit requirements of CIC (Citizenship and Immigration of Canada) guidelines and GIC document, collaborating with BOC domestic branches.
To be eligible to apply for and participate in the BOCC International Student GIC Program, you are required to present the letter of acceptance from a qualified Canadian school/college /university to us.
http://www.canadainternational.gc.ca/china-chine/index.aspx?lang=zh-CN
You can easy to meet the requirements of Citizenship and Immigration of Canada by showing your GIC in the amount of minimum CAD10,000. Comparing to the traditional requirements of proof of funds, the amount of financial documents that are required to summit is reduced significantly. You can also easy to pay for your living expenses while you are studying in Canada.
A student GIC program provides a streamlined study permit application to get faster processing times and higher Visa approval rates.
The Study Direct Stream (SDS) provides a streamlined study permit application process for students with English language abilities who will enter directly into their program of study at an eligible Canadian college or university; SDS is:
Public post-secondary institutions which include all SPP colleges; or conditional private post-secondary institutions operated under the same rules and regulations as public institutions; or conditional private institutions authorized by provincial statute.
A valid IELTS test result showing an overall band of 6.0 with no individual band lower than 6.0; OR
TEF test result with a minimum score that is equivalent to NCLC 7 for each ability; OR
Canadian High School diploma from a recognized Canadian-curriculum high school.
Letter of Acceptance (LOA) or conditional LOA which requires applicant to complete preparatory courses before commencement of the academic program can be accepted under SDS.
Guaranteed Investment Certificate (GIC) from a designated Canadian financial institution.
The post-secondary program provides a streamlined study application process for students going to any eligible post-secondary institutions and they have obtained a guaranteed investment certificate (GIC).
Any designated learning institute (DLI), including universities and colleges.
There is no mandatory language requirement under the post-secondary Program.
Letter of Acceptance (LOA) or conditional LOA which requires applicant to complete preparatory courses before commencement of the academic program can be accepted.
Evidence of the purchase of a Guaranteed Investment Certificate (GIC) from a participating financial institution in the amount of CAD$10,000.
The Primary & Secondary Program provides a streamlined study application process for students going to any eligible primary or secondary schools and they have obtained a guaranteed investment certificate (GIC).
For primary/secondary schools, there is a list of accredited provincial public and private education institutions.
There is no mandatory language requirement under the Primary & secondary Program.
A valid letter of Acceptance (LOA) from an accredited primary/secondary educational institution in Canada.
Evidence of the purchase of a Guaranteed Investment Certificate (GIC) from a participating financial institution in the amount of CAD$10,000.
Issuer | Bank of China (Canada) |
Principal | CAD$10,000 |
Interest Rate | After the account has been activated, interest rate refers to posted CAD Flexible Term deposits rate on Bank’s website. The interest rate is quoted for reference only and subject to change without notice. |
Schedule of payment | After the account has been activated, the disbursement of funds would be scheduled, you will receive $2,000 on your first initial. After that, each month, for 12 months, you will receive an equal portion of the balance of your GIC. All the accrued interest over the entire period will be paid with your last principal to your account for the last payment. |
A LOA (letter of acceptance) from a designated college, university or post-secondary institution authorized by provincial institutions.
A valid IELTS test result showing an overall band of 6.0 with no individual band lower than 6.0 (for SDS)
You can apply through a designated domestic branch of BOC with required documents mentioned in part E.
As long as Bank of China (Canada) issued the certificate for the GIC deposit, the deposit cannot be refunded before maturity only if any one of the following conditions is fulfilled:
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