TD Bank Group and HDFC Bank simplify process for Indian international students en-route to Canada with new agreement

For Indian students looking to pursue their education in Canada, TD and HDFC Bank Ltd. recently announced a new referral program designed to ease the experience for Indian international students. The TD International Student GIC Program simplifies the process for prospective students looking to obtain a Guaranteed Investment Certificate (GIC) — a requirement for students taking advantage of Canada’s Student Direct Stream (SDS) for expedited study permits.

Per the agreement, HDFC Bank will refer students planning to study in Canada to the TD International Student GIC program which provides students with two things — firstly, the TD International Student GIC, which has no application fees, requires only a simple online application process to get started, and has the added advantage of being able to accumulate interest, even before the student arrives in Canada. Another perk of the program for HDFC Bank customers is that they are entitled to a one-time credit, covering the incoming wire fee on their first wire payment into their TD account.

Secondly, students will be able to open a TD Student Chequing Account, a chequing account designed specifically for students. This account has no monthly fee (until 23 years old or with proof of enrolment in full-time post-secondary education), unlimited transactions, and other additional benefits.

Furthermore, once students arrive in Canada, they’ll also benefit from the trusted advice and ease of accessibility that TD has become known for. TD currently operates over 1,000 branches across Canada, with advisors speaking more than 80 languages — including Hindi, Punjabi, Tamil, Gujarati, and Urdu —which are ready to provide expert advice on all financial situations, from managing day-to-day expenses to long-term financial planning.

Canada’s popularity for international study

The TD International Student GIC Program is expected to help thousands of international students in Canada, which remains the most popular country for Indian students studying abroad.

In 2023, the country saw a record high of over 425,000 Indian international students with active study permits in Canada, about half of which were in Ontario, making India overwhelmingly the top source for international students.

Learn more

To learn more about how the TD International Student GIC program works, visit this webpage.
Indian residents looking to learn more about the HDFC Bank and TD program can visit this webpage.