Deposit all amount of GIC at once

[Amandeep2121]

Can an international student deposit/withdraw full ammount of $10000 from his GIC account at once......?

 

[gaba]

Can an international student deposit/withdraw full ammount of $10000 from his GIC account at once......?

Unfortunately, you can't do that.
That funds are your living expenses for a year in canada. As per their estimates, the money that they'll allow you to withdraw in a month, would be more than sufficient for your survival in canada, for that month.
So, its not possible to withdraw your $10k at once.

 

[Amandeep2121]

Unfortunately, you can't do that.
That funds are your living expenses for a year in canada. As per their estimates, the money that they'll allow you to withdraw in a month, would be more than sufficient for your survival in canada, for that month.
So, its not possible to withdraw your $10k at once.

But as i know there are two type of GIC provided by the banks(NORMAL GIC &REDEEMABLE OR CASHABLE GIC) and in cashable GIC we can withdraw more money than a monthly installment by giving a purpose such as buying a car or something else...is it right...?

 

[gaba]

But as i know there are two type of GIC provided by the banks(NORMAL GIC &REDEEMABLE OR CASHABLE GIC) and in cashable GIC we can withdraw more money than a monthly installment by giving a purpose such as buying a car or something else...is it right...?

Dont know about that buddy.
Ask your consultant.