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Funding your GIC with family money under SDS: route it through your own account

Canada • Study Permit • study 0 views
By VisaBuddies Communityvia community — compiled from public visa forums

Documents Needed

  • GIC certificate

    Purchase the GIC from your own bank account, even if the money originally came from a family member.

  • ITR and bank statements

    Keep these ready to evidence income/source of funds if asked; a source-of-funds report can be prepared by a chartered accountant if needed.

Step-by-Step

An applicant from India admitted to UNB's MSc Computer Science (SDS category) planned to borrow 6–7 lakhs from his sister for the GIC, with first-year tuition covered by his father's provident fund withdrawal. He asked whether this arrangement risked refusal.

What the thread advised:

  1. Move the money into your own account first, then buy the GIC. The clear mechanical advice: transfer the funds from your sister's account to your account, and purchase the GIC from your own bank account. The GIC provider's terms expect the deposit to come from the applicant.

  2. Don't volunteer information SDS doesn't ask for. A member relayed advice from consultants: SDS has a defined checklist, and adding unrequested explanations (like a gift deed for the family transfer) can over-complicate the file. Since detailed source-of-funds proof is not a mandatory SDS requirement, keep the application to what's asked.

  3. Keep source-of-income proof ready anyway. With a 10+ LPA salary, the applicant could evidence his own earning capacity: ITR and bank statements cover this, and a chartered accountant can prepare a formal source-of-funds report if one is ever requested.


The underlying pattern: family help with the GIC is common and workable — what matters is that the GIC itself is purchased cleanly from the applicant's account, and that the file stays simple.

Dos, Don'ts & Tips

  • Do: Transfer family funds into your own account before purchasing the GIC — the deposit should come from you.
  • Don't: Don't attach unrequested documents (gift deeds, extra explanations) to an SDS file — extra material that isn't required can complicate the case.
  • Tip: Keep ITRs and bank statements organized; a CA-prepared source-of-funds report is easy to produce later if IRCC asks.

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