The best way to Purchase GIC Certificate from Pakistan

GIC for Pakistani students: GIC Canada for Pakistani students

Suppose you are applying for Student Visa for Canada under Student Direct Stream from Pakistan. In that case, the Guaranteed Investment Certificate ( GIC ) is a mandatory document for you that should be in hand before applying for a student visa. Even though there are many ways to send money from Pakistan for GIC, I will discuss the best and cheap way in this article to transfer 10,000 dollars for GIC from Pakistan.

 

Before I start discussing, let me clarify that for GIC from Pakistan, you do not need to open a Foreign Currency Account. You can send the amount for GIC Certificate from a PKR account.

Which Bank is suitable for GIC in Canada?

Even though multiple banks provide GIC Certificate assistance for International Students, like Scotia , ICICI , SBI etc, which bank will I refer you to? It’s the Canadian Imperial Bank of Commerce (CIBC Bank).

Multiple reasons why CIBC Bank is great for GIC?

1. To create an account in this bank is straightforward and time-saving.
2. Their process is super fast and precise.
3. If you need an extension in funds transfer, you can easily do it by just emailing them.
4. Their fee for the Program is only $150.
5. Opening Expenses Deposit To Your Student Account is $2000.
6. Last but not least, you can transfer funds from Pakistan from your local PKR account.

Which Bank has experience with GIC in Pakistan and which bank is good for GIC payment from Pakistan?

In Pakistan, mostly Meezanbank is on top of the list. You can visit your nearest Main branch of your city and tell them I want to transfer living expenses in the form of GIC. If they do not have experience with GIC, do not panic. Just ask them to call the head office because the head office has an affair with GIC. From my personal experience, Habib Metropolitan Bank also knows GIC.

Which Bank did I choose for GIC from Pakistan?

I sent GIC funds from Pakistan into Canada through Habib Bank Limited, and the most exciting thing is that it was a village side branch. It all depends on how you guide them. Every bank in Pakistan has the ability to send GIC money to Canada if you can satisfy them I do not think you will face any challenge, only you need to convince them.

How can I get GIC in Pakistan? Let’s start the process of sending GIC through CIBC bank.

Step 1: First of click here to open CIBC saving and checking account then Click on this link https://pay.cibc.com/ISBO/payment/#/ and Select Country Name and amount in Canadian dollars.

Gic amount for canada student visa 2023?

Gic amount for canada student visa 2023 is 10,000$ nowadays.

Payment Information

Step 2: When you click on Student information, next steps are student details. Contact details, Passport details and referral details.
In Student Information Step 3: Enter your personal info just like your gender, first and last name.

In Student Information Step 4 Enter your street name, street name, country of residence here. It will be Pakistan because you can not qualify and apply under SDS unless you are not present in Pakistan. After that, add an Email address suitable for you because confirmation and any update by CIBC will come on registered Email

In Passport Step 5 enter your Passport number and other information which are required.  In Referral Step 6:  Pay attention to this step  If you want to get a 100$ bonus, then add this Email 16161598-033@uogsialkot.edu.pk to the Email address of the Referrer. When you will transfer your funds into a CIBC account instead of 10,000 $ in your account  (100$) will be added free of cost just by adding the above and below-mentioned Email address.

Step 7: When you complete this process, CIBC bank will generate one instruction sheet. Take this sheet along with you to your bank and tell them about GIC and its importance.

Document Requirements for gic account : 

1. Original Passport and one photocopy.
2. Original National Identity Card and one photocopy.
3. Offer Letter of University or College.
4. Bank Account Number (Aspirant can only transfer funds from his account, not from sponsor account).
5. Living expenses breakdown structure (You can get it from the university by requesting on Email ).
6. Source of Income (If your sponsor has a background in agriculture farming, then farm of land will work for you. ).

Bank Wire Transfer step 8: After collecting documents, the bank will charge the current rate of the dollar and will deduct the amount according to that from your account,  and will  transfer funds  into   the  CIBC account. In my case, almost 13 lakh rupees, 35 thousand rupees were removed from my account, and bank charges were nearly 6 thousand.

Swift Receipt step 8: When your bank transfers funds, you can get a Swift receipt to upload it into the CIBC portal.

Last step When CIBC bank will receive the Swift receipt, it will notify you and send you a pdf of the GIC certificate.

This is all about GIC Canada for Pakistani students. If you feel  you have more questions and doubt related to GIC from Pakistan for Canada Student Visa, please let me know in the comment.