Remitx starts GIC service for students aspiring Studies in Canada

New Delhi: RemitX, an outward remittance arm owned by Capital India Finance Limited, announced that it has now started servicing Guaranteed Investment Certificate (GIC), a mandatory Visa requirement for students aspiring to travel to Canada.


GIC is a short-term liquid investment usually for up to a year offered by Canadian Banks. As per the Citizen Immigration Canada (CIC) requirements under Student Partner Program (SPP) Visa, the students applying under SPP Visa Category for studies in Canadian Colleges are required to invest approximately Canadian Dollar (CAD) 10,000 in the form of GIC with Canadian Banks.


RemitX, has collaborated with a GIC providers in Canada to make GIC account service available for Indian students willing to travel to Canada for higher studies. Along with GIC Services, students will also benefit from other services like University tuition Fees Remittance, Forex Travel Card, Currency for personal use, and personalized Relationship Manager to guide students on opening GIC accounts from their branch network across India making it a one-stop solution for Indian students.


Studying in Canada presents many opportunities for international students. Highly ranked Universities, affordable tuition fees, Robust and Flexible Immigration Policies with an opportunity to work on completion of studies makes Canada an attractive study destination to the students.


As an endeavour to service Individual Indian students with bespoke customized financial solutions; RemitX offers superlative products on collaborative arrangements with some of the best organizations across the globe. It invites all students and education consultants to take this opportunity to open GIC account through RemitX.


In 2019, a total of 10.9 lakh Indian students had travelled overseas for higher education according to data collated by the United Nations Educational, Scientific and Cultural Organisation (UNESCO). This was a 45% increase over the 2018 figure of 7.5 lakh.


RemitX through its wide branch network and seamless digital platform, provides integrated Foreign Exchange services such as outward remittances, foreign currency bank notes, foreign currency demand drafts, foreign currency prepaid cards and travel insurance to various segments which includes leisure trips, Overseas Education, Corporates Travel, MICE etc.


Post vaccination drive, RemitX expects many Indians to travel overseas for Leisure, Corporate Travel and for education. RemitX aims to gain a significant market share by customization and innovation aimed towards the customer requirement.