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Funding Solutions for Studies inCanada
  •   HDFC Credila understands the various courses at Degree and Diploma level offered by colleges and Universities in the Canada.
  •   HDFC Credila has funded thousands of students to pursue higher education in various Universities in Canada
  •   Post disbursal HDFC Credila deposit money into Scotia Bank.
  •   SPP (Student Partnership Program) – Requires letter of acceptance from the partner Institution along with other documents; on the financial side, the SPP requires a GIC (Guaranteed Investment Certificate) of $ 10,000 CAD to be purchased from Scotia Bank.
  •   HDFC Credila has customized education loan products for Indian students going for higher education in Canada.

Work after graduation

To obtain a work permit after your graduation, you must meet the following requirements:

  • You must have studied full time in Canada and you must have completed a program of study that lasted at least eight months.
  • In addition, you must have graduated from:
    a public post-secondary institution, such as a college, trade/technical school, university or CEGEP (in Quebec), or
    a private post-secondary institution that operates under the same rules and regulations as public institutions, or
    a private secondary or post-secondary institution (in Quebec) offering qualifying programs of 900 hours or longer leading to a diplôme d'études professionnelles (DEP) or an attestation de spécialisation professionnelle (ASP), or
    a Canadian private institution authorized by provincial statute to confer degrees but only if you are enrolled in one of the programs of study leading to a degree as authorized by the province and not in all programs of study offered by the private institution.
  • You must apply for a work permit within 90 days of receiving written confirmation (for example, a transcript or an official letter) from your institution indicating that you have met the requirements for completing your academic program.
  • You must have completed and passed the program of study and received a notification that you are eligible to obtain your degree, diploma or certificate.
  • You must have a valid study permit when you apply for the work permit.
( NOTE: If you have graduated from a vocational or professional training program at a public or private secondary institution in Quebec, regulated by the Ministère de l'Éducation, du Loisir et du Sport (MELS), you may be eligible to apply for a Post-Graduation Work Permit. )

Impact of length of the studies in Canada and the length of the work permit

A Post-Graduation Work Permit cannot be valid longer than the length of your studies in Canada.

If the official length of your program of study is:

  • less than eight months
    you are not eligible for this program
  • less than two years but more than eight months
    you may get a work permit for a period no longer than the length of your program of study (for example, if you studied for nine months, a work permit may be issued for a period of nine months)
  • two years or more
    a work permit may be issued for three years
( NOTE: students can attend a foreign post-secondary institution and transfer to an accredited provincial or territorial post-secondary institution in Canada in order to complete their studies. However, if the student receives their educational credential from a recognized Canadian educational/training institution, they may be eligible for a post-graduation work permit only for the length of time they studied in Canada. If the qualifying educational credentials were issued at an institution outside of Canada, they would not qualify for a post-graduation Work Permit.)

You are not eligible for the Post-Graduation Work Permit Program if you:

  • study in a program that is less than eight months long
  • participate in a Canadian Commonwealth Scholarship Program funded by the Department of Foreign Affairs, Trade and Development Canada (DFATD)
  • participate in a Government of Canada Awards Program funded by DFATD
  • receive funding from the Canadian International Development Agency (CIDA)
  • participate in the Equal Opportunity Scholarship, Canada-Chile
  • participate in the Canada-China Scholars Exchanges Program
  • participate in the Organization of American States Fellowships Program
  • participate in a distance learning program either from abroad or from within Canada or
  • have previously been issued a Post-Graduation Work Permit following any other program of study.

You need these documents to show your Proof of Funds:

Citizenship and Immigration Canada have announced some new guidelines for students going to Canada under the SPP Program. As per these guidelines students coming to Canada require $10,000 CAD for their living and accommodation for one year. Your proof of funds should cover both the tuition and accommodation costs.

You can show the proof of funds in two ways:

  • Purchase a Guaranteed Investment Certificate for an amount of $10,000 CAD from a participating Canadian financial institution
  • Submit a copy of your tuition fee payment receipt and a Education Loan letter equivalent to $10,000 CAD from an Indian Chartered Bank.

Source: CIC

Scotiabank Student GIC Program:

A Guaranteed Investment Certificate or GIC is a Canadian investment that offers a guaranteed rate of return over a fixed period of time. According to Citizenship and Immigration Canada (CIC) guidelines under the Student Partners Program (SPP), students require approximately $10,000 Canadian (CAD) per year, not including tuition fees, to cover your living expenses. This requirement is fulfilled through the purchase of a GIC.

The Canadian High Commission advises as follows:
PREFERRED OPTION for proof of funds: Evidence of purchase of a special Guaranteed Investment Certificate (GIC) from a participating Canadian financial institution (bank), in the amount of $10,000 CAD to cover living expenses for your first year in Canada and evidence of payment for your first year's tuition. As an alternate option, you can fulfill the financial requirement by submitting a copy of the receipt for the first year's tuition fee AND a copy of an Educational Loan from an Indian Chartered Bank equivalent to $10,000 CAD.

How to open account in Scotiabank
The form is available on the Scotiabank website @ The form is available under the "How to apply" tab.

A Student must submit the following documents in ONE SINGLE PDF file, in the following order:

  • Signed copy of the Scotiabank Student GIC Program Application Form
  • Copy of passport pages (photograph page and the last page with signature)
  • Copy of acceptance letter from a Canadian educational institution

All copies MUST be signed by the student

Your GIC account may not be opened or delayed for given reasons

  • Files not received in prescribed format (1 single PDF document)
  • Handwritten application forms are not accepted (Please use the electronic version only)
  • Scanned documents are not clear (Application Form /Passport Copy/Acceptance Letter)
  • Sending duplicate application forms (more than once)
  • Sending application forms to multiple email id's (please send application form only to
  • Sending multiple follow up queries
  • Following up with your request through any other channel other than will cause delay in processing your GIC Application.


Study Guide for Canada

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