How much time it will take to get the refund of GIC?
If your study visa application is declined or you withdraw from the course and leave the country, the bank will refund you the balance available in your account but after deducting the application fees. Keep in mind, all fees paid including the application processing fee are non-refundable. The amount will only be available for refund after verifying that your study permit or visa is being cancelled or declined. For this, you will need to provide relevant documents or confirmation letter that you would have received from the visa office of Canada. The documents required may vary from one bank or service provider to another. Hence, it is advisable to check twice before requesting a refund.
When it comes to the refund process, you just need to login to your GIC program profile and complete the refund request form online. To avoid unnecessary delays, ensure that you have filled all the details correctly. For security reasons, the bank refunds the amount to the account where these funds were initially received from. Once the bank or financial institution approved the request, the fund will be credited to your account within 6-7 weeks.