TD International Student GIC Program

Leaving your home country to move to Canada is a big undertaking. At TD, we’re here to help support you moving forward in your journey to Canada.

When you apply for, and participate in the TD International Student GIC Program, it can help you expedite your study permit application.

Benefits of the TD International Student GIC Program

  • Fully digital

    A simple online application for international students to open both a TD Student Chequing Account and a TD International Student GIC.

  • No application fee

    No application fees when you apply for the TD International Student GIC Program.

  • Convenient

    We serve over 13 million customers nationally in more than 80 languages at 1,000+ branches across Canada.

What do you get?

TD Student Chequing Account: A chequing account designed with students in mind, pay no monthly fee1 (until 23 years old or with proof of enrollment in full-time post-secondary education), and enjoy unlimited transactions included each month, so you can focus on school.

TD International Student GIC: Enjoy no-fee investing and the security of a set interest rate for the full term. Once you have satisfied all the conditions for participation in the TD International Student GIC Program, the principal amount will be redeemed in accordance with a payment schedule featuring equal monthly payments.

How it works

It only takes 4 steps to participate in the TD International Student GIC Program:

Step 1. Submit your application online
Request to receive an application form and related documents to open a TD Student Chequing Account. After you have filled out and electronically signed the required documents, you will receive information about your TD Student Chequing Account and wire instructions.

Step 2. Send a wire payment
To fund your TD Student Chequing Account, send one wire payment2 in the amount of your choice ranging from CAD $20,635 plus incoming wire payment fee and maximum CAD $25,000 including incoming wire payment fee3.

Step 3. Fund your TD International Student GIC
Once TD receives your wire payment, CAD $20,635 will be invested in a TD International Student GIC, and a Confirmation document will be sent to you by email. Any remaining funds will be in your TD Student Chequing Account.

Step 4. Book an in-branch appointment for verification & first payout of GIC
Once you've arrived in Canada, book an appointment at one of our 1,000+ branches to verify your identity, sign the required documentation and activate your accounts.

We will then redeem the sum of CAD $4,635 plus any accrued interest from your GIC and deposit it into your TD Student Chequing Account. The remaining funds will be redeemed in accordance with the GIC Payment Schedule in the amount of $1,600 plus any accrued interest over the subsequent 10 months.

Have additional questions? See program guide PDF

Frequently asked questions

To be eligible to participate in the TD International Student GIC Program, you must:

  • Meet the eligibility requirements of the Government of Canada Student Direct Stream (SDS) Program
  • Be an individual who is planning on studying at a post-secondary designated learning institution in Canada
  • Be a minimum of 18 years of age at the time of application
  • Not be opening an account on behalf of a third party

To be eligible for faster processing of your study permit through the Government of Canada’s Student Direct Stream (SDS), you must be a legal resident living in one of the following countries: China, India, Morocco, Pakistan, Philippines, Senegal, Vietnam, Antigua and Barbuda, Brazil, Colombia, Costa Rica, Peru, Saint Vincent & the Grenadines, Trinidad and Tobago. For detailed eligibility requirements, refer to the Government of Canada’s Student Direct Stream (SDS) program website.

Yes, you may use the same TD International Student GIC to re-apply for a study permit as long as you have confirmed that the GIC you received meets the prevailing study permit requirements and you are able to complete our program requirements at a TD Canada Trust branch within 365 calendar days from the date of opening the TD Student Chequing Account. If our program requirements are not met within 365 calendar days from the date of chequing account opening, both the TD Student Chequing Account and GIC account will be closed and the funds will be returned to the account from which they originated. If we return funds to you by wire transfer, you will be charged a non-refundable wire return fee by TD in the amount of CAD $25.  This fee will be deducted from the amount of the funds being returned to you. Other banks or financial institutions involved in transferring the funds may charge additional fees to the recipient of the funds.

Your TD Student Chequing Account must be funded by a wire transfer within 90 calendar days of opening the account to remain open. Accounts not funded within 90 calendar days will be automatically closed.

Yes. Funds can be wired by the student from their bank account or from the account of family/friends.

Additional account details & terms information

Find out more about opening a TD account with helpful resources and information.

Advice to help you settle in Canada

  • From everyday banking to money transfers, credit cards and flexible financing, see how we’ve got you covered while you settle in.

  • Explore banking options for newcomers like chequing accounts, savings accounts, credit cards and international money transfers.

  • Bank online, in person or by phone. Plus, use the TD app for convenient banking on the go.

TD International Student Banking Offer

If you’re an eligible student, you get up to $635 in value when you open a new TD Student Chequing Account, are approved for a TD Rewards Visa* Card, and open your choice of Savings Accounts. Offer inclusive of a $50 gift card when you bundle all three products together. Conditions apply.

Start Your Online Application Now

  • Apply online

    To make the process simpler and more efficient, you can now apply online.

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