HDFC Bank and TD Bank Group sign agreement to streamline education journey for Indian students in Canada

TD, CanadaVisa
Published: March 27, 2024

Two people in discussion

Pursuing education in Canada as an international student can be a big undertaking. On top of preparing to live in a new country to take challenging courses, study permit applicants must also navigate through a set of government requirements.

Through the launch of a new referral program, HDFC Bank and TD are streamlining the process of opening a TD Guaranteed Investment Certificate (GIC), enabling students to conveniently comply with the Government of Canada’s Student Direct Stream (SDS)[1] study permit pathway,  for expedited study permit processing.

HDFC Bank is India’s leading private sector bank. TD is the second largest bank in Canada by assets, and since 2015, has acted as HDFC's main correspondent banking partner for Canadian Dollar clearing.

What is the Student Direct Stream?

The Student Direct Stream (SDS) is a fast-tracked study permit pathway for eligible students from India and 13 other countries. While current processing times for normal study permits are 10 weeks, the government aims to process those who apply under the SDS in 20 calendar days.

As part of Immigration, Refugees and Citizenship Canada’s (IRCC) requirements to apply through the SDS pathway, students must provide “proof of financial support” by obtaining a GIC from a participating Canadian financial institution.

Benefit from TD International Student GIC Program

How does this referral program support Indian international students?

As part of the partnership, HDFC Bank will refer students planning to study in Canada to the TD International Student GIC program which provides students with:

  • TD International Student GIC: Designed to meet the needs of Government of Canada’s Student Direct Stream (SDS) pathway for obtaining study permits, with no application fees, a simple online application process and the ability to start earning interest even before arrival in Canada.
  • TD Student Chequing Account: With no monthly fees (until 23 years old or with proof of enrolment in full-time post-secondary education), unlimited transactions and additional benefits.

Once students arrive in Canada, they will benefit from the ease, value, and trusted advice TD is known for. The benefits under this Program will include:

  • Accessible Banking: TD has longer branch hours than any other Canadian bank, with over 1,000 branches coast to coast, and advisors speaking more than 80 languages, including Hindi, Punjabi, Tamil, Gujarati, and Urdu. Banking services are also available online, as well as at your fingertips with the TD app.
  • Advice at the ready: Whether students are looking for expert advice on managing day-to-day expenses or long-term financial planning, TD colleagues are here to help, both in branch and over the phone.

Learn more about TD International Student Banking Package

To learn more about how the TD International Student GIC program works, visit this webpage.

For India residents, to learn more about the HDFC Bank and TD program, visit this webpage.


Share this article
Share your voice
Did you find this article helpful?
Thank you for your feedback.
Subscribe to our newsletter
Did you find this article helpful?
Please provide a response
Thank you for your helpful feedback
Please contact us if you would like to share additional feedback, have a question, or would like Canadian immigration assistance.
  • Do you need Canadian immigration assistance? Contact the Contact Cohen Immigration Law firm by completing our form
  • Send us your feedback or your non-legal assistance questions by emailing us at
Related articles
Study Abroad in Canada: A Useful Checklist for International Students
Study Abroad in Canada: A Useful Checklist for International Students
More temporary residents are settling outside of Canada’s major cities
Studying in Canada: An updated guide to applying for Canada’s Student Direct Stream in 2024
The process of applying for a Canadian study permit has undergone changes recently, affecting many candidates that will apply for expedited processing through the Student Direct Stream (SDS) in 2024.
IRCC releases allocation of study permits for all provinces
IRCC has released a statement explaining how it has arrived at the final allocation of study permits each Canadian province has received for 2024.
Top Stories
British Columbia and Prince Edward Island issue PNP nominations this week
Budget 2024: How Canada is continuing its commitment to safe and inclusive communities
Recent policies that may make home ownership more affordable for eligible newcomers to Canada
Join our free newsletter. Get Canada's top immigration stories delivered to your inbox.
More in Life in Canada
Recent policies that may make home ownership more affordable for eligible newcomers to Canada
Houses in construction in a housing development on a clear autumn day
As a foreign national, am I eligible for a health card in Canada?
Group of millennial people hold in arms financial papers solve and discuss problem.
Report: Canada is the 2nd happiest country among the G7
Happy multigenerational people having fun sitting on grass in a public park
10 mistakes to avoid as a newcomer to Canada
Man and woman walking and laughing, enjoying a day out in the city on a sunny autumn day
Link copied to clipboard