WHAT IS GIC || ALL ABOUT GIC || COMPARISON OF BANKS || INTERNATIONAL STUDENTS IN CANADA || NAMY VLOG - YouTube

Hello guys, today I'm going tell you something which I had learnt from my huge mistake

From ( माध्यम in Hindi )

So much of Hindi that today I'll make novels using Hindi words

Okay!

Listen carefully

So, I'm going to share my experience with you so that after coming here you don't repeat it knowingly else your're going to regret it.

So folks, listen very carefully!

So folks, I know you all are doing great.

At your home sitting on the sofa watching this video.

So, I'm going to tell you what actually 'GIC' is

In which bank one should create his/her account

In which bank I had created the account which turned out to be a huge mistake

What I've experienced and what problems I've faced

So, I'm going to cover up everything in detail in this video.

You're going to enjoy

So, listen to it very carefully

And if you've not subscribed this channel yet then do it right now and press the Bell icon so that you get notified about the upcoming videos on time.

So, lets start the video without wasting any time. Lets go Guys!!

So folks, now I'm going to answer the important question

What is GIC ?

So guys, GIC is a lifeline.

Means it's a lifeline for a student

Let it be for fees or for the daily expenses for 1 year

The very first year of your student life in which GIC helps you to survive

You don't have Job, or any kind of business

But still you get money so that you don't die due to hunger in your 1st year in Canada.

Okay!

This is about what is GIC.

Now, if I talk in simple words then

GIC stands for Guaranteed Investment Certificate

Okay!

Here, in the bank account of yours', you have to submit an amount of $10,000

Okay!

Talking about the Indian currency it is almost Rs. 5,50,000/-

You have to submit this amount, after this you'll be eligible to file for Visa

Because before this you cannot file for Visa. It's Impossible!

Okay!

So it's very important thing.

Now, what is to done after that

When you'll come to Canada then for 1 year you get $670 every month for the living

It's not like you'll receive $10,000 at once

In the first month you'll get $2,000 at once.

Okay!

Then afterwards you'll receive $670 per month

So that you'll never die due to hunger.

Okay!

So this is GIC.

Now, let's talk about 2nd important question

How you can create a GIC account? and in Which banks of Canada you can create the account ?

So guys, the Top 2 banks in Canada is as follows The Great 'ICICI Bank' and even greater than that is the 'Scotia Bank'.

So, these two banks are like

I'll tell you how actually these banks are.

One among these is the best and the other one is

Okay, some private talks between us

So, today I'm going to tell those private things which I've also experienced

Okay!

Now, the important thing is the bank in which the account should be created in

I'm telling you just listen me carefully.

Okay!

Now, we're going to talk about helplessness is another name of Mahatma Gandhi.

Only 1..1..1 benefit of ICICI Bank that you'll get is that your GIC certificate will be with you within 2-3 days after creating the account.

Okay!

Whereas, it takes around 15 days in Scotia Bank.

Now, the reason why I had chosen ICICI Bank is because my time to file for Visa was delaying.

And I needed the GIC certificate as soon as possible then I got screwed up and for the 2 days, I opened the account in ICICI Bank.

But after that it turned out to be a bad idea and due to that my Visa approval was very much delayed.

Okay!

Now

If you all think that in-spite being Indian why am I commenting wrong about Indian Bank.

Then that definitely not the case

I'm just telling you that I'd realized my mistake so I don't want you to repeat those

There's nothing disrespectful in it.

But seriously, you're going to face difficulties if you'll open account in ICICI Bank.

Okay!

Now, lets talk about branches.

Which bank's got less branches? You all say. Without searching tell which bank's got less branches

Okay!

Now, we'll talk about Scotia Bank

Then the number of branches, of Scotia bank is really High

For example in India the shops of Betel quid (Paan) which can be found on every single corner

If you need anything and you'll go there buy those things

Think what you need. And you'll get what you need.

Just like this Scotia Bank has it's branches in every 2-3 km. You'll finish your work easily.

Anything you need to do that will be done, if you want to transfer the money, you can do it very easily.

Now talking about the ICICI Bank

If you find a branch several miles away though it's difficult but if found then your luck is good.

If not then every single work related to bank is very difficult in ICICI Bank

And

Means even after using google maps you'll have to find the What is ICICI Bank

I mean Where* is ICICI Bank, not What.

We all know what it is but where is it?

So, this is the problem regarding ICICI Bank.

Now, the second important thing for the students who are below 19, after 12th most of the students are under 19.

So, ICICI Bank will not give you a credit card and without it one cannot imagine life in Canada.

So now, you got debit card your account is created and activated then the main thing there's no CVV behind the debit card

If CVV is not there then you cannot shop online because CVV is needed for online shopping.

Okay!

So, you cannot buy anything, you'll not be provided with credit card

Then Bro...

Take NOTHING and shop EVERYTHING

Okay!

So, forget it because my friend experienced the same thing, he did not had credit card and no CVV on debit card. So you're not eligible.

So, these problems occurred and shopped like this for a year.

Thereafter he created an account in Scotia Bank and now he is able to shop easily.

So, guys this is the first drawback

Now

The second important thing is that how much important role does a credit card play, likewise the credit score plays a major role.

You cannot buy anything without credit card, in future if you want to buy a car or a mobile phone

Credit card is must and prior to that Credit score is must!

Guys, it's been a year, in my GIC account very limited money might be available. May be few Hundreds.

I've utilized all of them but even after completing a year I've got no idea how to check credit score in ICICI Bank.

No one can find how it works, if I ask anyone who has his/her account in ICICI Bank then he/she will be like let it be ,its of no use.

Don't know whats happening in ICICI Bank.Till today I got no idea about their credit card.

Scotia Bank provide a detailed credit history. If you'll download the app then you'll be able to know the credit score of yours'.

You'll get to know about how much you use your credit card and everything can be tracked and the most important is your credit score

which ICICI Bank does not have that kind of facility. I don't want to recall those.

Now, heading towards another topic.

The most beneficial part by creating an account in Scotia Bank is that the you'll get a SCENE card

Just a second, I'll show you the SCENE card

So Guys, this is the SCENE card watch it carefully , I've covered the number because some of you might get it and use it in theater by my side

And I don't want that.

Now

What is SCENE card ?

In SCENE card the more you use your credit card, more the credit points will stored in SCENE card.

And more the points will be the more you'll be able to watch movies in theater for free.

That's another thing that due to Corona, everything is closed and you can't see the theaters opened.

For the time being because we also didn't got a chance to see it, and it has been a long time since I also had created the account Scotia Bank but I also never got a chance.

In my card minimum 10 movies might be there, I've not seen even a single movie yet.

Hard Luck !!!

Okay!

Now

You'll get these offers in Scotia Bank, now lets talk about ICICI Bank.

Will you get those offers in ICICI Bank? Do you think so ?

No Bro, there's nothing likewise. It's like Sahara Desert.

Yes, there's one thing that can happen and should be aware of that if you've got a credit card of ICICI Bank

Then Bro, be careful that there's no guarantee that it works to see the movie in theater, the credit card is what I'm talking about

SCENE card is far away then that, can't even think about it

Okay!

If credit card worked then you are very lucky.

Because my student

i mean my friend had to change two debit cards because they were not working

At store after tapping got to know that his debit card is not working and that helpless guy didn't had credit card so at that time he was screwed up.

But God is watching us and the problems were solved after that.

Now, the fourth point which we

No, not the fourth one, the fifth point is that can you transfer the money from credit card

Because sometimes even I need to transfer the money from credit card, so with the help of credit card of ICICI Bank, you can only purchase items from shops

By tapping it, that's it.

You cannot transfer the money to anyone, can pay the bill by credit card but cannot transfer the money to another person.

And you cannot transfer the money from credit card to your debit card

Whereas talking about Scotia Bank, you can transfer the money, a minimal charge is cut down

But you can transfer the money from credit card to debit card as well as to another person.

This is also a huge Concern which is understood at time being, before that one in hurry Takes the decision.

Lets go with the one which take 2 days that is ICICI Bank

I've heard it several times and I'm not blaming my personal consultant so sir, if you're watching this video then I'm not saying anything bad

I know there might be a reason behind which you had created my account in ICICI Bank

Okay!

So, let me tell you a thing that most of the consultants forces you to open your account in ICICI Bank, your process will faster.

I don't know why they are doing so, might be commissions, or something else.

But, for only one reason you can open your account in ICICI Bank that is if you are in hurry afterwards you can open an account in Scotia Bank.

This will also work.

But, have to create an account, struggle is there

But, have to open the account because without it your work will not be complete.

So, I suggest you not to prefer ICICI Bank unless and until you had to do so, tell your consultant that I want my account in Scotia Bank

My work will not be fulfilled if I chose ICICI Bank.

So, put this inside your head

Because the branches of ICICI Bank in Vancouver is only one.

Just think if you're living in Vancouver, you have to go to Delta and here in Toronto are 4-5 branches

So, only limited number of branches are there and I'm telling you all that with your full presence of mind, open the account

Because these things matters, these small things really matters

And one more important thing is that if you want save all your money then you can open the account in ICICI bank

Like you've forget the money in your GIC account, you invest those money for 1 year and not even seeing it.

Come, get paid and live with those money only , those money you can use in your fees .

Okay!

If you want to do it like this then you create your account in ICICI Bank , I'm telling you open the account in ICICI Bank only if you want to save money.

Okay!

So, that's all for today.

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