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Partnership Formed: HDFC Bank and TD Bank Group to Enhance Educational Pathways for Indian Students in Canada

HDFC Bank and TD Bank

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Navigating the path of international education in Canada poses significant challenges for students. Beyond acclimating to a new environment and rigorous academic demands, prospective students must also navigate through complex government regulations, particularly when applying for study permits.

To ease this burden, HDFC Bank and TD Bank Group have introduced a groundbreaking referral program. This initiative simplifies the process of opening a TD Guaranteed Investment Certificate (GIC), thereby facilitating compliance with the Government of Canada’s Student Direct Stream (SDS) study permit pathway. By expediting study permit processing, this collaboration ensures a smoother journey for international students.

As India’s premier private sector bank, HDFC Bank brings its extensive expertise to the table. Meanwhile, TD Bank Group, Canada’s second-largest bank by assets, serves as HDFC’s primary correspondent banking partner for Canadian Dollar clearing since 2015. Together, they aim to streamline the educational journey for Indian students venturing to Canada.

Understanding the Student Direct Stream: Simplifying Study Permit Processing for International Students in Canada

The Student Direct Stream (SDS) stands as an expedited study permit avenue tailored for qualified students hailing from India and 13 additional nations. Unlike the standard processing period of 10 weeks for regular study permits, the government endeavors to assess SDS applications within a swift timeframe of 20 calendar days.

Outlined within the criteria set forth by Immigration, Refugees and Citizenship Canada (IRCC) for SDS applications, prospective students are mandated to furnish “proof of financial support.” This prerequisite is met through the acquisition of a Guaranteed Investment Certificate (GIC) from a designated Canadian financial institution, as per IRCC stipulations.

Empowering Indian International Students: Exploring the Benefits of the Referral Program

“Innovative Support for Indian International Students: Unveiling the Benefits of the Partnership Program”

Under this collaborative initiative, HDFC Bank will direct students aspiring to pursue studies in Canada to the TD International Student GIC program, offering the following advantages:

TD International Student GIC: Tailored to align with the requirements of the Government of Canada’s Student Direct Stream (SDS) pathway for study permit procurement, this program eliminates application fees, boasts a straightforward online application process, and allows students to begin accruing interest even before their arrival in Canada.

TD Student Chequing Account: This account, featuring no monthly fees (until the age of 23 or upon providing proof of enrollment in full-time post-secondary education), unlimited transactions, and additional perks, caters to the specific needs of students.

Upon students’ arrival in Canada, they will enjoy the convenience, value, and trusted guidance synonymous with TD, including:

Accessible Banking: TD distinguishes itself with extended branch hours surpassing those of any other Canadian bank, boasting over 1,000 branches nationwide. With advisors proficient in over 80 languages, including Hindi, Punjabi, Tamil, Gujarati, and Urdu, banking services are easily accessible in person, online, and via the TD app.

Expert Advice: Whether seeking guidance on day-to-day expense management or long-term financial planning, students can rely on TD’s knowledgeable colleagues, available both in-branch and over the phone, to provide personalized assistance.

For more details contact us .


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