Srinagar, Mar 21, : HDFC Bank and TD Bank Group (TD) today announced an expanded relationship supporting Indian students planning to study in Canada.
With this agreement, TD and HDFC Bank are announcing a new referral program. HDFC Bank will refer students planning to study in Canada to TD’s International Student GIC Program, which enables students to conveniently comply with the Government of Canada’s Student Direct Stream (SDS) study permit pathway. This referral partnership builds on the two banks’ existing relationship where TD has acted as HDFC Bank’s main correspondent banking partner for Canadian Dollar clearing since 2015.
Students are required to provide proof of financial support, which is accomplished via a Guaranteed Investment Certificate (GIC) from a participating Canadian financial institution. The TD International Student GIC Program is designed to enable students to open accounts digitally and help them meet their study visa and living expense requirements.
“Canada is a leading education market and our relationship with TD aims to simplify the process for students and Non-Resident Indians (NRIs) who want to study there,” said S Sampath Kumar, Group Head Retail Branch Banking, HDFC Bank.
Ms. Smita Bhagat Group Head Retail Branch Banking, HDFC Bank further added, “The association is designed to support the study permit requirements of Indian students planning to study in Canada. The curated program also offers a wide range of financial benefits to amplify their living experience while studying there.”
Sona Mehta, Executive Vice President of Canadian Personal Banking, TD Bank Group said: “With this expanded relationship, HDFC Bank and TD can provide the financial offerings that will make for a smoother transition to the Canadian banking environment.”
