The collaboration between HDFC Bank and Toronto-Dominion Bank (TD) holds significant implications for Indian students planning to pursue their education in Canada. This partnership aims to address a crucial aspect of the visa application process by streamlining the financial requirements, particularly concerning the mandatory guaranteed investment certificate (GIC) needed for obtaining a study permit.
Under this agreement, HDFC Bank will introduce a referral program directing Indian students to TD's International Student Guaranteed Investment Certificate (GIC) Programme. This program is specifically designed to assist students in fulfilling the financial criteria mandated by the Canadian government's Student Direct Stream (SDS) study permit pathway. By leveraging digital platforms, students can easily open accounts and meet their study visa and living expense requirements.
Moreover, beyond simplifying the visa process, the collaboration offers a comprehensive suite of financial solutions and support to Indian students. Upon their arrival in Canada, students can benefit from TD's extensive banking network, gaining access to expert advice on various financial matters. This personalized assistance, available both in-branch and remotely, can significantly aid students in managing their finances effectively while pursuing their education abroad.
Overall, this partnership represents a concerted effort to address the evolving needs of Indian students seeking educational opportunities in Canada. By combining innovative digital solutions with tailored banking services, the collaboration aims to enhance the overall experience of Indian students studying abroad while contributing to the economic stability and bilateral relations between India and Canada.
