To better support Indian students pursuing their education in Canada, HDFC Bank Ltd. and TD Bank Group recently announced a new agreement, designed to ease banking experiences for Indian international students. marks an expansion of the existing relationship between the two banking giants, aiming to make the financial aspects of studying abroad less daunting.
The TD International Student GIC Program offers several benefits, including a GIC designed to meet the SDS program requirements through a straightforward online application process, with no application fees involved.
Students also benefit from the , offering unlimited transactions and no monthly plan fee under certain conditions. Furthermore, HDFC Bank customers are entitled to a one-time credit, covering their first wire payment into their TD account.
Under the agreement announced on March 20, will refer students planning to study in Canada to . This program is specifically designed to fulfill the requirements of the Government of Canada鈥檚 Student Direct Stream study permit pathway, offering an easy way for students to provide proof of financial support through a Guaranteed Investment Certificate (GIC) from a participating Canadian financial institution.
HDFC Bank, renowned as India鈥檚 leading private sector bank, has a vast network of branches and ATMs across thousands of cities and towns. TD, ranked as the second-largest bank in Canada and sixth in North America by assets, is well-positioned to serve incoming international students, with more than 1,000 branches in Canada alone.
TD鈥檚 International Student GIC Program allows students to apply digitally, facilitating their visa and living expense requirements.
鈥淭his association is tailored to support the study permit requirements of Indian students, enhancing their living experience in Canada,鈥� notes Smita Bhagat, also a Group Head of Retail Branch Banking at HDFC.
In 2023, Canada was the top destination for international students from India, with more than 425,000 active study permits.
鈥淭his partnership will make for a smoother transition to the Canadian banking environment for students beginning their journey here,鈥� said Sona Mehta, Executive Vice President of Canadian Personal Banking at TD.
Delivering ease, value and trusted advice to the students is essential, Mehta adds.
Whether students are looking for expert advice on managing day-to-day expenses or long-term financial planning, TD colleagues can help both in branch and over the phone. For more information, visit .