Send Money to Canada from India
CAD SWIFT wire transfers for GIC payments, university tuition, and family maintenance. Essential for Canadian study permit applications. RBI-compliant under LRS.
GIC Remittance for Study Permits
Immigration Canada requires international students to show proof of funds via a GIC (Guaranteed Investment Certificate). The minimum amount is CAD 22,895 (effective September 2025). We process this transfer with the exact documentation your GIC provider requires.
University Tuition Fees
Canadian universities like University of Toronto, UBC, and McGill charge tuition in CAD. We handle direct transfers to Canadian university accounts with correct purpose coding under LRS.
SWIFT Transfer in 2-4 Days
CAD wire transfers to Canadian banks typically arrive in 2 to 4 business days. Processing times can vary by Canadian bank and province. Initiate GIC transfers well ahead of your study permit application deadline.
LRS: Up to USD 250,000/Year
All remittances to Canada fall under RBI's Liberalised Remittance Scheme with an annual limit of USD 250,000 per person. GIC plus tuition combined in a year still typically stays within this limit.
Family Maintenance
Sending regular support to a child or relative living in Canada? Family maintenance transfers are permitted under LRS with minimal documentation.
SWIFT Confirmation Provided
You receive a SWIFT copy after every transfer. For GIC transfers, this serves as proof of remittance that GIC providers like ICICI Bank Canada or SBI Canada may require.
How to Send Money to Canada
Identify the Transfer Type
Tell us whether this is a GIC remittance, university tuition, living expense support, or family maintenance. Each has specific documentation requirements.
Get Beneficiary Details
For GIC: provide the GIC provider's bank details (SWIFT code, account, transit number). For tuition: university payment portal details. For family: recipient's Canadian bank account and institution number.
Bring Your Documents
Passport, PAN card, Form A2. For GIC: the GIC application confirmation from your provider. For tuition: university offer letter and fee invoice. We guide you on everything needed.
Fund via NEFT or RTGS
Transfer the INR amount to our account from your savings bank account. Wire transfer is initiated the same business day. A SWIFT copy is provided as your remittance proof.
Common Questions
What is a GIC and why do I need to send money to Canada for it?
A GIC (Guaranteed Investment Certificate) is a financial deposit required by Immigration, Refugees and Citizenship Canada (IRCC) as proof that an international student has sufficient funds to cover living expenses after arriving in Canada. The minimum amount required is CAD 22,895 per student (as of September 2025 guidelines). The GIC is deposited with an IRCC-approved Canadian bank, and the funds are released to you in monthly instalments after you arrive and activate the account. To open a GIC, you need to transfer the required CAD amount from India to the GIC provider's Canadian bank account.
Which banks in Canada offer GIC accounts for Indian students?
The IRCC-approved GIC providers most commonly used by Indian students include ICICI Bank Canada, SBI Canada, Scotiabank, and CIBC. Each has its own GIC application process and associated bank account details for receiving the transfer. Once you have applied for a GIC with your chosen provider, they will give you the exact SWIFT code, account number, and transit number to use for the wire transfer from India.
How long does a CAD transfer to Canada take from India?
SWIFT wire transfers from India to Canadian bank accounts typically arrive in 2 to 4 business days. GIC providers may have specific clearing timelines. For example, ICICI Bank Canada typically processes the GIC within 3 to 5 business days after receiving the funds. Plan your transfer well ahead of your study permit application deadline to account for these timelines.
What documents do I need for a GIC remittance?
You need your passport, PAN card, Form A2 (we fill this together), the GIC application confirmation letter from your chosen GIC provider, and the transfer instructions specifying the exact account number, transit number, and SWIFT code. The amount must match exactly what the GIC provider specifies, including any service fees they have charged separately. We ensure the transfer details are correct before processing.
Is TCS applicable on education remittances to Canada?
From April 2026, TCS of 2% applies on education remittances (including GIC and tuition) above Rs. 10 lakh per financial year, when sent directly to a recognised foreign educational or financial institution for education purposes. For transfers to a student's personal Canadian bank account, the standard 5% TCS rate above Rs. 10 lakh applies. TCS is creditable: it shows in your Form 26AS and can be claimed as a tax refund or set off against your liability when filing your annual returns.
Can I send tuition fees and GIC amounts together in the same financial year?
Yes. Both GIC and tuition payments count toward your annual LRS limit of USD 250,000. Since CAD 22,895 (GIC) plus a typical year's tuition (CAD 15,000 to 35,000) still usually stays well within the USD 250,000 limit, you can send both in the same financial year. However, the combined INR value of both transfers will determine whether you cross the Rs. 10 lakh TCS threshold.
Sending a GIC or tuition payment to Canada?
Visit our Nerkundram branch in Chennai with your GIC application letter and bank details. We process CAD transfers with same-day initiation and provide a SWIFT copy as remittance proof.