The TD Student GIC Program contains a guide to successful financial support to freshers entering Canada for the first time. If you are planning to study in Canada, one of the most important requirements for your study permit is proof of financial support. A Guaranteed Investment Certificate (GIC) from a Canadian bank is one of the strongest and most accepted ways to meet this requirement.
Through ApplyBoard, eligible international students can easily apply for the TD International Student GIC Program. This program allows you to open a TD Student Chequing Account and purchase a GIC online before you arrive in Canada.
This guide explains the GIC requirements, application steps, funding, living expenses, processing, and eligibility benefits, and key details of the TD Student GIC Program.
Benefits of Choosing the TD Student GIC Program
- Simple online application to open both a TD Student Chequing Account and a TD International Student GIC
- No application fees
- Access to TD services in more than 50 languages at over 1,100 branches across Canada
- A TD Student Chequing Account with no monthly fee and unlimited transactions
- Start earning interest at a competitive rate even before you arrive in Canada
- Strengthens your study permit application with ApplyProof verification technology (immigration officers can easily confirm your document)
Who Can Apply?
The TD Student GIC Program through ApplyBoard is currently available to international students from the following countries:
- China
- Ghana
- India
- Morocco
- Nigeria
- Pakistan
- Philippines
- Senegal
- Vietnam
How the TD Student GIC Program Works (Step-by-Step)
Step 1: Submit an Application
Complete the online application form to open a TD Student Chequing Account and GIC.
After successful submission and ID verification, you will receive your account details and wire transfer instructions.
Step 2: Send Payment
Send an international wire payment (or multiple payments) totaling a minimum of CAD $22,895 plus incoming wire fees.
Important points:
- Funds must be received by TD within 90 days of account opening.
- You can send additional money of any amount to your TD Student Chequing Account until you arrive in Canada.
- Remember to account for wire transfer fees charged by your home bank and by TD.
Step 3: Fund Your GIC
Once TD receives your wire payment:
- CAD $22,895 will be invested in a TD International Student GIC.
- Any extra funds will stay in your TD Student Chequing Account.
You will receive a Confirmation of Investment (COI) through the ApplyProof platform. This verifiable document serves as official proof of funds for your study permit application.
Step 4: Activate Your Account in Canada
After you arrive in Canada:
- Book an appointment at one of TD’s 1,000+ branches.
- Verify your identity and sign the required documents.
- TD will redeem the first payment from your GIC (plus any interest) and deposit it into your Student Chequing Account.
- The remaining funds will be released according to the GIC payment schedule over the next 10 months.
How to Wire Funds to TD (Step-by-Step)
After you successfully open your TD Student Chequing Account and GIC through ApplyBoard, you need to send money to fund the account. Follow these steps carefully:
- Wait for Account Details
Once your application is approved and ID verification is complete, TD will send you your account information and clear wire transfer instructions by email. - Prepare the Wire Transfer
Go to your local bank (or use online banking) and request an international wire transfer.
You must send a total of at least CAD $22,895 plus any incoming wire fees charged by TD. - Important Points When Sending Money
- You can send the money in one payment or multiple payments.
- All funds must reach TD within 90 days of opening the account.
- You can continue sending extra money of any amount to your TD Student Chequing Account until you arrive in Canada.
- Always include the exact reference details provided by TD so the money is credited correctly.
- Factor in extra costs: your home bank’s outgoing wire fee, exchange rate differences, and TD’s incoming wire fee.
- What Happens After TD Receives the Money
- CAD $22,895 will automatically be placed into the TD International Student GIC.
- Any amount above $22,895 will stay in your TD Student Chequing Account.
- You will receive a Confirmation of Investment (COI) through the ApplyProof platform. This document is used as proof of funds for your study permit application.
Tip: Keep records of every wire transfer (receipts and confirmation emails). These can be useful if there are any delays.
TD Student Chequing Account Benefits
When you join the TD International Student GIC Program, you also get a TD Student Chequing Account. Here are the main benefits:
- No monthly fees while you are a student
- Unlimited transactions (no charges for everyday banking)
- Easy access to your money through TD’s mobile app and online banking
- Available at more than 1,100 TD branches across Canada
- Support available in more than 50 languages
- You can receive the monthly GIC payouts directly into this account after you arrive in Canada
- Helps you start building a Canadian banking relationship even before you land
This account is designed to make your daily financial life in Canada simple and low-cost while you study.
Key Points to Remember
- Minimum GIC amount: CAD $22,895 (current IRCC living expense requirement for most provinces)
- You can send more than the minimum amount if you wish.
- The Confirmation of Investment is issued through ApplyProof, making it easy for immigration officers to verify.
- No monthly fees on the Student Chequing Account.
Other information to know:
Closing Remarks
The TD Student GIC Program offered through ApplyBoard is a clear and reliable option for eligible international students. It helps you meet IRCC’s proof of funds requirement, opens a no-fee student bank account, and allows you to start earning interest before you even arrive in Canada.
IRCC Proof of Funds Explained Simply (For Students)
When you apply for a Canadian study permit, the government wants to make sure you have enough money to live and study in Canada without needing a job.
Here’s everything you need to know in simple terms.
What Money Do You Need to Show?
You must prove you can pay for three things:
- Your tuition fees (first year)
- Your living costs (food, rent, transport, etc.)
- Your travel costs (flight to Canada and back)
How Much Do You Need for Living Costs? (2026)
These amounts are only for living expenses. You still need extra money for tuition and flights.
| Who is coming with you? | Money needed for 1 year |
|---|---|
| Only you | CAD $22,895 |
| You + 1 family member | CAD $28,502 |
| You + 2 family members | CAD $35,040 |
| You + 3 family members | CAD $42,543 |
| Each extra person | Add CAD $6,170 |
If you are from one of the eligible countries and have a letter of acceptance from a Canadian institution, you can start your application online today. Try your best to always confirm the latest IRCC financial requirements and program details on the official ApplyBoard TD Student GIC page, as amounts and eligibility can change. This article is for guidance only.