IRCC Increases GIC Amount to CAD 22,895 for Canada Student Visa – Effective September 1, 2025

08-Jul-2025

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Study Abroad

IRCC Increases GIC Amount to CAD 22,895 for Canada Student Visa – Effective September 1, 2025

If you are planning to study in Canada, there’s a crucial update from Immigration, Refugees and Citizenship Canada (IRCC) that impacts your Student Direct Stream (SDS) visa application process.

Effective September 1, 2025, the minimum Guaranteed Investment Certificate (GIC) amount required by IRCC has increased from CAD 20,635 to CAD 22,895. This blog explains what this change means for international students and how to prepare your application accordingly.

What Is a GIC and Why Is It Important?

A Guaranteed Investment Certificate (GIC) is a mandatory financial document required under SDS to prove you can support yourself financially for the first year of study in Canada.

New GIC Requirement – Effective September 1, 2025

Old GIC Amount	New GIC Amount (Effective Sept 1, 2025)
CAD 20,635	CAD 22,895

The updated amount reflects the rising cost of living in Canada and ensures that students are financially prepared for their academic journey.

Who Must Follow the New GIC Requirement?

All SDS visa applicants submitting applications on or after September 1, 2025
Students applying for Fall 2025 intake and beyond
International students from SDS-eligible countries, including India

Eligible Canadian Banks for GIC

You can open a GIC account in any of the following IRCC-approved banks:

Scotiabank
ICICI Bank Canada
HSBC Canada
CIBC
RBC
Bank of Montreal (BMO)

Choose a bank with a fast turnaround, low charges, and strong student support.

How to Apply for GIC – Step-by-Step

Open a GIC account online at a participating Canadian bank.
Transfer CAD 22,895 (new amount) from your Indian bank account.
Receive the GIC Certificate or confirmation letter.
Use the GIC certificate to submit your SDS student visa application.
After arrival in Canada, receive:
- CAD 2,000 upfront
- Remaining amount in 12 equal monthly instalments

Why IRCC Increased the GIC Requirement

The change reflects inflation and updated cost-of-living benchmarks in Canada. It ensures that students:

Are financially prepared
Don’t face hardship after arrival
Meet the real cost of living expectations in Canadian cities

Other SDS Requirements Along with GIC

First-year tuition fee payment proof
Letter of Acceptance from a DLI
IELTS score (minimum 6.0 in each band)
Medical certificate (IMM 1017)
Valid passport and photograph
Strong Statement of Purpose (SOP)

How Pollster Education Helps You

At Pollster Education, we make it easier for students to meet all SDS visa requirements, including:

GIC guidance and support
Shortlisting IRCC-approved banks
SOP writing and editing
Tuition fee payment support
Visa filing and documentation

All our services are free for students.

FAQs – GIC and Visa Requirements

Can I apply with the old GIC amount if I submit before Sept 1, 2025?
Yes. Applications submitted before September 1, 2025 can still use the CAD 20,635 limit.

Is GIC mandatory for Non-SDS applicants?
No. GIC is only mandatory under SDS. Non-SDS applicants can show alternate financial proof.

Can I deposit more than CAD 22,895?
Yes, but CAD 22,895 is the minimum requirement.

Starting September 1, 2025, students applying for a Canada student visa under SDS must deposit CAD 22,895 into a GIC account. This updated amount is critical to your visa success and financial preparedness.

Connect with Pollster Education to simplify your GIC process, choose the right bank, and get expert help with your Canada study visa application.