This might help you to decide from which bank to get GIC.

*Why CIBC? and it's comparison with Scot

Question

This might help you to decide from which bank to get GIC.

*Why CIBC? and it's comparison with Scotia gic.*

I would prefer CIBC over scotiabank. I assume you have choose payment mode as INR in CIBC! The Reasons are

-if chosen CIBC you have to transfer money via RTGS/NEFT to CIBC’s India account at mumbai standard chartered. So it is fater and cheaper but in Scotia you have to wire transfer!
If you are not good in negotiating the conversion rate for dollar to rupee would be high for you in wire ransfer

-Choose to payment option to pay $10000 in CIBC as INR(though the exchange rate is more but overall u need to pay less than Scotia because in Scotia you need to pay $10250 + inr to cad exchange rate which will be 1-1.5rs more than the rate shown in Google (bank + transfer fee))

-CIBC issues certiticate in 2 business days after sending payment. (Mine on the same day) superfast.

-I have heard that many times scotia rejects payment ( due to minor mistake in information in international wire tranfer ) and return u r payment due to which a loss of min 5-6k inr one need to face. Whereas in cibc there is no such issue.

-There is only 1 option in scotia for getting a credit card ( you earn scene points- redeemable for movies,food) but in CIBC you have option for 3 types of credit card as per your need - CIBC Aventura(it is visa platinum), CIBC Divedend( for extra cashback, normal visa) and CIBC Aero ( for extra airmiles but has a yearly fee of $39)

-Number of branch in each city is almost same as Scotia as both are top bank in Canada.

- https://isbo.cibc.com
Visit here and fill out the necessary details and submit it's too easy one can do by them self.

If you need to any help regarding cibc GIC ask me I would try to solve your doubt.

One thing you can do in return is use my reference- pavitramohanty111@gmail.com(in drop down select email reference) both of us will get 25$.

Jay patel · Answer

Process: 1. Register an account with CIBC GIC 2. Fill application form. You will also get the amount in INR for your GIC amount. 3. Once done, you will receive a confirmation email - application received. 4. By next day you will receive another email - action required. 5. Login to your CIBC GIC account and under your application, there will be an Instruction Letter. 6. Its a 4 page document where the first two pages are the payment instructions. READ EVERYTHING CAREFULLY. Fairly simple ofcourse. Last two pages are A2 Form. Take print out of all pages. 7. Goto your bank and hand them over the print out. Its straightforward from there. CIBC has a VOSTRO account in an Indian bank. So basically you are transferring the amount in INR through RTGS/NEFT. 8. The A2 Form, as mentioned, needs to be signed and stamped by the bank. Most of the bank won't do it since money is NOT being sent out of the country. Don't panic, its absolutely fine. On the top right corner of your A2 form, there is space for "Reference No.". Tell your bank person to fill that up. That's important. That's the reference number of your transaction. 9. Scan the A2 Forms and email them as mentioned in the instruction letter. This is important. 10. That's it. You will receive a confirmation email that payment is received. 11. Within a few days you will get your GIC. It will be available in your CIBC GIC account for download.

This might help you to decide from which bank to get GIC. *Why CIBC? and it's comparison with Scot

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