GIC Fund Transfer

[vishal21]

Hello,

GIC funds will be provided from my education loan. Is mandatory that funds muts be transferred from Student's saving account only? In my case, should bank disburse 10,000 CAD to my saving account first and then transfer funds for GIC or Transferring funds from student's loan account is acceptable?

 

[nileshkaka]

transfer it to your account first and then pay the GIC amount

 

[mr.parmar]

Hello,

GIC funds will be provided from my education loan. Is mandatory that funds muts be transferred from Student's saving account only? In my case, should bank disburse 10,000 CAD to my saving account first and then transfer funds for GIC or Transferring funds from student's loan account is acceptable?

yes according to gic terms you should transfer funds from you account to gic account otherwise transaction will not succeed

 

[vishal21]

Thank you guys for your help!

My bank says that they can't disburse funds to my savings account, they have standard procedure of transferring funds directly from student named loan account to Educational and financial institutes.

Anyway, I am going to change a bank as my bank is not listed in acceptable financial institutes in India. Do you guys know any bank which gives loan for Post graduate Certificate within 10-12 days?