TD signs deal with Indian bank HDFC to attract students looking to study in Canada
Advertisement
Read this article for free:
or
Already have an account? Log in here »
To continue reading, please subscribe:
Monthly Digital Subscription
$0 for the first 4 weeks*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*No charge for 4 weeks then price increases to the regular rate of $19.00 plus GST every four weeks. Offer available to new and qualified returning subscribers only. Cancel any time.
Monthly Digital Subscription
$4.75/week*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*Billed as $19 plus GST every four weeks. Cancel any time.
To continue reading, please subscribe:
Add Free Press access to your Brandon Sun subscription for only an additional
$1 for the first 4 weeks*
*Your next subscription payment will increase by $1.00 and you will be charged $16.99 plus GST for four weeks. After four weeks, your payment will increase to $23.99 plus GST every four weeks.
Read unlimited articles for free today:
or
Already have an account? Log in here »
Hey there, time traveller!
This article was published 20/03/2024 (647 days ago), so information in it may no longer be current.
TORONTO – TD Bank Group has signed an agreement with an Indian bank in a bid to attract international students as new customers and make it easier for them to comply with visa requirements.
As part of Canada’s requirements to apply for an expedited study permit, students are required to provide proof of financial support, which is accomplished with a guaranteed investment certificate.
Under the program, HDFC Bank will refer students planning to study in Canada to TD’s international student GIC program.
TD is offering students the ability to use an online application process to obtain a GIC without an application fee. It said students can start earning interest on their GIC even before arriving in Canada.
The program also includes a student chequing account and a fee rebate to cover their first wire payment into their TD account.
TD has been HDFC Bank’s main correspondent banking partner for Canadian dollar clearing since 2015.
“We are thrilled to announce our expanded relationship with HDFC Bank and the benefits it will provide for those beginning their journey to study here,” said Sona Mehta, TD’s executive vice-president of Canadian personal banking, in a press release.
“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. We look forward to welcoming and serving these students throughout their journey.”
In 2023, there were more than 425,000 Indian international students with active study permits in Canada.
Sampath Kumar, group head of retail branch banking for HDFC, said the bank wants to help Indian students navigate the process to study abroad.
“Canada is a leading education market and our relationship with TD aims to simplify the process for students and Non-Resident Indians who want to study there,” Kumar said in a statement.
This report by The Canadian Press was first published March 20, 2024.
Companies in this story: (TSX:TD)