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General information, not financial advice
A GIC is one example, not required by this page
A guaranteed investment certificate, or GIC, from a Canadian financial institution is one example of proof of funds listed by IRCC. The financial-support page does not require a GIC. It also says the list of evidence is not complete. Do not turn an example on the page into a rule that every applicant must buy one.
This guide uses the IRCC financial-support page, modified 28 August 2026 and checked 27 October 2026. Rules can change and the IRCC page is the authority. This site does not recommend any GIC provider. We do not state a GIC minimum amount, provider names or unverified programme rules.
Living funds by family size and application date
The following yearly living-cost funds exclude tuition and travel and apply to all provinces except Quebec. Use the application date to choose the period. A living-funds requirement is not a quoted GIC purchase amount.
For applications on or after 1 September 2026: 1 person: CAD 23,448; 2 people: CAD 29,192; 3 people: CAD 35,888; 4 people: CAD 43,572; 5 people: CAD 49,419; 6 people: CAD 55,736; 7 people: CAD 62,054. Each additional person: CAD 6,318. Source: IRCC, modified 28 August 2026, checked 27 October 2026.
For applications from 1 January 2025 to 31 August 2026: 1 person: CAD 22,895; 2 people: CAD 28,502; 3 people: CAD 35,040; 4 people: CAD 42,543; 5 people: CAD 48,252; 6 people: CAD 54,420; 7 people: CAD 60,589. Each additional person: CAD 6,170. These are previous-period figures, not the amounts for applications on or after 1 September 2026.
For more context, read the Canada proof-of-funds guide and the Canada country guide. Keep the number of accompanying people and the application date with your cost notes.
| People | Applications on or after 1 September 2026 (CAD) | Applications 1 January 2025 to 31 August 2026 (CAD) |
|---|---|---|
| 1 | 23,448 | 22,895 |
| 2 | 29,192 | 28,502 |
| 3 | 35,888 | 35,040 |
| 4 | 43,572 | 42,543 |
| 5 | 49,419 | 48,252 |
| 6 | 55,736 | 54,420 |
| 7 | 62,054 | 60,589 |
| Each additional person | 6,318 | 6,170 |
Tuition, travel and Quebec are separate
IRCC states no fixed tuition amount on this page. You must show enough funds for the first year. For a longer programme, explain how the remaining years will be paid. Ask the university for its own fees rather than using the living-funds table as a tuition estimate.
You must also prove funds for transportation to and from Canada. No travel amount is stated on the page. Tuition and travel are on top of living funds, so record them separately and do not count the same money twice.
For Quebec, the page refers applicants to the Quebec ministry, MIFI, for Quebec Acceptance Certificate, or CAQ, costs. No Quebec figure is stated here. Do not apply the outside-Quebec table to a Quebec budget.
A dated rupee illustration
Illustration for one person, applications on or after 1 September 2026, outside Quebec: CAD 23,448 x Rs 67.81 = about Rs 15,90,009 (about Rs 15.9 lakh). About Rs 16 lakh per year when rounded to whole lakh. Exchange rate dated 23 October 2026; this is an estimate, not a fixed rupee requirement. Rates move and bank charges may differ.
This conversion covers living funds only. Add your own tuition and travel estimates, then account for family funding. Our living-cost guide keeps these lines separate. Test only the amount you expect to borrow in the calculator; it does not decide what evidence IRCC will accept.
What to ask before moving money
Ask the bank what document it provides for a GIC or a deposit with withdrawal restrictions, how it describes the funds and how money is released. Ask what charges and conditions apply. These are questions to confirm, not claims that any particular deposit meets IRCC's rules.
Ask the university which tuition period your payment covers and how it documents fees already paid. Ask how its cost information can help explain funding for the rest of a longer programme. Compare the replies with the official IRCC financial-support instructions before choosing evidence.
If money is borrowed, ask the lender how disbursement will reach the intended account and when it is available. A bank or university reply helps explain the arrangement but does not promise acceptance, approval or a visa. The official page remains the authority; check it again before applying.
Frequently asked questions
Does this IRCC page require a GIC?
No. The page checked 27 October 2026 lists a GIC from a Canadian financial institution as one example of proof of funds and says the list is not complete.
What living funds apply to one person outside Quebec?
For applications on or after 1 September 2026, IRCC lists CAD 23,448 per year, excluding tuition and travel. For 1 January 2025 to 31 August 2026, the previous amount was CAD 22,895.
Does the table include tuition, travel or Quebec?
No. Show first-year tuition and travel to and from Canada separately, and explain later-year funding for longer programmes. Quebec applicants are referred to MIFI for CAQ costs.
Does this site recommend a GIC provider?
No. We recommend no GIC provider and give no verified GIC purchase minimum here. Check IRCC's current instructions and ask about your evidence before moving money.
Related guides
Sources
Last reviewed 27 October 2026