Students going to Canada must buy a special guaranteed investment certificate (GIC) from any of the participating bank such as Nova Scotia Bank, ICICI Bank, SBI Canada Bank, CIBC Bank for an amount of CAD 10,200 to facilitate the adjustment of the living expenses of the first year. With the GIC the student will receive CAD 2000 on arrival in Canada. The rest of the money will be paid in 12 equal installments to take care of his monthly living expenses.
