SCOTIABANK STUDENT GIC PROGRAM APPLICATION GUIDE

What is a GIC? Q. What is a GIC? A. Guaranteed Investment Certificate or GIC is a Canadian investment that offers a guaranteed rate of return over a fixed period of time. Q. Is it mandatory to purchase a GIC? A. In February 2013, the Canadian High Commission made the purchase of a Guaranteed Investment Certificate (GIC) from a participating Canadian financial institution (bank), in the amount of $10,000 CAD to cover living expenses for your first year in Canada mandatory for the Study Permit application process. You will be required to provide evidence of this purchase. For more information on the above, please refer the Student Partners Program (SPP) Checklist the link below (see Student section - Study Permit Checklist-University) http://www.vfs-canada.co.in/visaapplication.html Q. What are the details of the Scotiabank Student GIC Program? A. The details of the Scotiabank Student GIC Program are as follows: Purchase Amount/Starting Principal: $10,000 CAD Interest Rate: The Interest Rate is Scotiabank s posted rate for a one-year cashable guaranteed investment certificate on the Issue Date. The current rate on any day can be found at http://www.scotiabank.com/rates Term: One year Issue Date: The Issue Date is the date that we receive your wire transfer for the Purchase Amount plus applicable fees. If the date that we receive your wire transfer is not a business day, the Issue Date will be the next business day. Maturity Date: One year after the Issue Date. Q. Are there any other associated fees? A. Yes. In addition to the $10,000 CAD principal amount, you are required to remit an additional $100 CAD which covers the administration fee. The total amount you are required to remit is $10,100 CAD. [Type text] 1 Registered trademark of The Bank of Nova Scotia

How do I apply for the Scotiabank Student GIC Program? Q. Where can I get the application form? A. The form is available on the Scotiabank website under the How to apply" tab. Please follow the link: http://www.scotiabank.com/ca/en/0,,5698,00.html Only download and complete this application once you have fully reviewed this document (Scotiabank Student GIC Program Application Guide). Q. How do I submit the application? A. To submit the application, please follow the steps outlined below. Step 1: Input the information requested in the GIC Application Form in the appropriate fields. Application Form must be TYPED to be accepted Step 2: Please REVIEW the completed Application Form to ensure accuracy and that no details are missing. Step 3: Press the Print button at the end of Page 3 of the form. Step 4: Sign the application. Keep a copy of the Application Form for your records. Step 5: Scan all documents in ONE SINGLE PDF File, in the following order: I. Signed copy of the Scotiabank Student GIC Program Application Form. II. Copy of passport pages (photograph page and the last page with signature) III. Copy of acceptance letter from a Canadian educational institution All copies MUST be signed by the student Step 6: Email the SINGLE PDF File to newaccount@scotiabank.com. Please specify Scotiabank Student GIC Program in the subject line of your email. The email should contain only ONE PDF which should include all the above noted documents; otherwise the application will not be processed. Q. My school is not listed as one of the participating schools in partnership with the Association of Canadian Community Colleges (ACCC). Can I still apply for a GIC? A. Although not mandatory, students accepted in an undergraduate or post-graduate program at any accredited Canadian University may also choose to apply for a GIC. Please follow the same application process and timelines as outlined in this guide. [Type text] 2 Registered trademark of The Bank of Nova Scotia

Application and Processing Timelines Q. What is the timeframe for the entire process? A. From the date that Scotiabank receives your application to the date that your GIC certificate is issued, you should be prepared to wait for processing of approximately two (2) weeks. Please note that this timeline depends on you transferring your funds immediately following the receipt of your Investment Account Number (see Step 1). Step 1: Following receipt of the completed application form, Scotiabank will send you a secure email confirming the Investment Account Number and provide wire transfer instructions (to transfer money) within five (5) business days to enable you to purchase the GIC. Please allow for time difference, weekends and other Public Holidays in Canada. Step 2: You will be required to remit $10,100 CAD to Scotiabank. (International wire transfer takes about 5 business days. Please check with your local remitting bank for a more specific time frame). Step 3: A confirmation of the GIC details (such as issue date, maturity date, and interest rate) will be sent to you via secure email within three (3) business days (postponed accordingly for Canadian Public Holidays) after receipt of your wire payment. You must submit a copy of the confirmation to the Canadian High Commission along with your Study Permit Application. You are also responsible for printing a copy of this GIC confirmation, delivered to you electronically, for your records. Note: Secure Emails are available for 30 days before automatic deletion. Please ensure that you view and save/print the email contents or attachments that need to be retained for your records. Q. What are the deadlines for Scotiabank Student GIC Program applications to be submitted and for GIC Investment Accounts to be funded in order to meet study permit deadlines as prescribed by the Canadian High Commission? A. Please refer to the VFS and/or Canadian High Commission websites for cut off dates for submission of Study Permit applications for each session intake. Scotiabank will continue to accept the GIC Applications and issue confirmations when funds are received. However, students must allow for sufficient processing time for obtaining their Study Permit. A student may request for the GIC to be carried forward to apply for a Study Permit for the next session intake, if unable to meet the current session cut off. The GIC will continue to earn interest until it is redeemed or refunded. [Type text] 3 Registered trademark of The Bank of Nova Scotia

Funding your GIC SCOTIABANK STUDENT GIC PROGRAM APPLICATION GUIDE Q. How much money do I have to remit to my GIC account? A. You will be required by the Canadian High Commission to remit $10,000 CAD to Scotiabank for the GIC plus $100 CAD to cover administrative fees, for a total of $10,100 CAD. Note: Intermediary banks usually charge an additional fee for wire transfers. This fee is not payable to Scotiabank and is excluded from the $100 CAD administration fee collected by Scotiabank. To ensure that Scotiabank receives the required amount, the student must advise the bank in India that all fees are payable by the student and that Scotiabank must receive $10,100 CAD without any deductions. If the amount received by Scotiabank is less than $10,100 CAD the funds will be returned to the remitting bank in India, less any charges and the GIC will not be issued. Upon receiving your wire, Scotiabank will deposit $10,000 CAD into your GIC account. Q. How do I transfer funds into my account? A. Once you receive the secure email containing your Investment Account Number, please use the following information when sending a wire transfer: Name of Bank: The Bank of Nova Scotia (Scotiabank) Branch Address: International Banking Division, Toronto, Ontario Branch Transit: 52712 Institution Code: 002 Swift Codes: NOSCCATTCOL- to credit Front St, CAU #03996- Scotia Student GIC Program-Attention Venice Botelho Beneficiary Name: [First Name] [Last Name] and Investment Account Number [xxxxxxxx] Please DO NOT send a follow-up email to any Scotiabank email. Once your GIC account has been funded, a confirmation of the GIC details (such as issue amount, date, maturity date, and interest rate) will be sent to you via secure email. Q. Can I transfer funds from any bank in India? A. Yes, the funds can be wire transferred from any bank in India where you hold your account. The account can be a joint account held in the name of the GIC applicant (Student) and his/her parent(s). Q. Can I transfer funds from other sources such as Money Exchange House (Money Transfer Services)/Third party services? A. No. The funds must be wire transferred only from a bank in India where you hold your account (in your own name or jointly with your parent(s) otherwise the money will be returned. Q. Can the GIC be deposited by anyone other than the student? A. No. Funds must be deposited in the GIC by the student. Funds must originate from a bank account under the name of the student/applicant in India (only funds with a matching sender and beneficiary name will be accepted), otherwise the money will be returned to the bank in India from where the original remittance was made and the GIC will not be processed. In the event of a refund, the money will be returned only to the student s bank account at the bank from where the original remittance was made. [Type text] 4 Registered trademark of The Bank of Nova Scotia

Q. I have sent my wire transfer to a Bank other than Scotiabank. What do I do? A. You will need to contact the originating bank and advise them to resend the wire transfer to The Bank of Nova Scotia (Scotiabank) as indicated in your Welcome Package. Accessing Your Funds in Canada Q. How will I access my GIC funds when I arrive in Canada? A. Upon arrival in Canada, you may visit any Scotiabank branch of your choice to open a personal deposit account and to activate the GIC. Please refer to our branch locator, (http://maps.scotiabank.com/en/index.php) to determine a branch that is most convenient for you to visit. At the Scotiabank branch you will be required to provide an ORIGINAL valid passport, Letter of Acceptance to a Canadian educational institution (or student ID) and Welcome Package (sent with GIC certificate). Copies of these documents are NOT ACCEPTABLE. All payments of principal and interest will be paid to your Scotiabank personal deposit account that you must open at a Scotiabank branch after your arrival in Canada** in accordance with the following disbursement schedule: Initial principal payment of $2,000 CAD will be made within (5) business days after the Scotiabank Disbursement Schedule is completed at the Scotiabank Branch in Canada. Four (4) subsequent principal payments of 2,000 CAD will be made every two months beginning two months after the initial payment is made until the funds are fully paid out. If a Scheduled Payment date falls on a holiday or Sunday, the Scheduled Payment will be made on the next business day. Any outstanding amounts left in your account will be paid to you on your final scheduled disbursement payout date. ** You must present identification acceptable to Scotiabank s account opening policy in order to open the personal deposit account. Third Parties and Your GIC Application Q. Can I open a Joint GIC Account? A. No. Under the Scotiabank Student GIC Program the GIC can be made only in the name of the applicant who is applying for the Study Permit under the SPP program. Q. Can the GIC be deposited by anyone other than the student? A. No. Funds must be deposited in the GIC by the student from their bank account in India. In the event of a refund, the money will be returned to the student s bank account at the bank where the original remittance was made. Q. Can a third party (someone other than the account holder) follow up with Scotiabank in regards to my application? A. For reasons of privacy, we are unable to disclose any information to anyone other than the account holder. [Type text] 5 Registered trademark of The Bank of Nova Scotia

Refunds Q. How can I get my money back if my Study Permit is refused, I withdraw my Study Permit Application, or if I withdraw from the institution? A. Full redemption of the outstanding principal of your GIC cannot occur prior to the Maturity Date unless you provide us with proof that: 1. your Study Permit has been declined. Please provide us with a copy of the Refusal Letter issued by the Canadian High Commission; or 2. your application for admission to a Canadian educational institution has been declined; or 3. you have withdrawn from enrolment at the Canadian educational institution before or after your arrival in Canada. Please provide us with a copy of the cancelled Study Permit from the Canadian High Commission office in India. Please note upon receipt of proof of any of these events and confirmation from the Canadian High Commission, we will redeem the outstanding principal plus, for GICs outstanding for more than thirty days, any accumulated interest. However, all processing and administration fees will not be refunded. The refund may take up to 8 weeks from the date the GIC Refund request is received from the applicant. In order to process your refund, Scotiabank will require the following to be emailed in one (1) single PDF file to newaccount@scotiabank.com: the 3 pages of your refusal letter/cancelled study permit as provided by the Canadian High Commission; the original TT Receipt; and the completed Refund Wire Transfer Form (found in the How to request a refund tab of our website) Note: the subject line of your email should state: Refund Request - Student Name (Given/First and Surname/Last), IP number (Account Number), passport number and date of birth Q. Are there any charges for the refund of my GIC? A. Scotiabank will deduct the applicable processing fees when completing the refund. Additional fees may be charged by the intermediary banks during the refund. It is the applicant s responsibility to cover all additional refund fees. The refund amount will be returned to the student s bank account at the bank from where the original remittance was made. [Type text] 6 Registered trademark of The Bank of Nova Scotia

Receiving Emails from Scotiabank Q. I received a secure email from Scotiabank Secure Email System (ems@scotiabank.com). What do I do next? A. To protect your privacy, Scotiabank will send customer sensitive information by secure email, directing you to the Scotiabank Webmail portal link. Clicking this link will launch your web browser. 1. You will be required to register first by clicking the Register now link for the first time. 2. The Webmail portal will send you a temporary password to complete the registration. You will need to click the Scotiabank Secure Email System link; this will take you back to the Secure Email login page. Note: the temporary password will be required for initial log in to the Secure Email system. 3. Once you enter the temporary password you will be required to change it. Please ensure you make note of the new password you assign your account and save it in a secure place for future use. 4. After completing the registration process you will be able to view the Webmail inbox and read your secured email. Note: Secure Emails will be held for 30 days before automatic deletion, so please view and save any content or attachments you wish to keep. For a step-by-step guide, please refer to our website and see the Secure Email Client User Guide provided. Q. I have forgotten my secure email password, what do I do? A. Please send a password reset request from the email account you input in your original Application Form to studentgic@scotiabank.com with the following Subject Line: Password Reset Request - Student Name (Given/First and Surname/Last), Date of Birth, Passport Number, and the GIC IP Number (if known). We will respond to your request with a temporary password reset within four (4) business days. Upon receipt of notification of successful password reset, a notification email is delivered to your email address with instructions and a web link to access the Scotiabank Secure Email System. Click on that link and you will then be able to select a new password and password hint. Please check your junk mail folder in case the notification email does not appear in your inbox. [Type text] 7 Registered trademark of The Bank of Nova Scotia

Following Up With Scotiabank Q. If more than five (5) business days have passed and I have not received a response to my original application submission, how do I follow up with regards to my application? A. Step 1: Please check the junk mail folder of the email account input in your original application and look for an email sent from Scotiabank Secure Email System (ems@scotiabank.com). Step 2: If you have not received an email with your Investment Account Number, kindly email your query to Scotiabank to newaccount@scotiabank.com stating Subject: Follow up - Scotiabank Student GIC Program Surname/Last Name, Given/First Name and Date of Birth (dd/mm/yyyy). To help us investigate and respond to you, please include the date the GIC Application was emailed and a copy of your original application form. Step 3: If your query remains unanswered after reading this guide and you still require further assistance, please email general program inquiries to studentgic@scotiabank.com. The Subject Line must include the Student Name (Given/First and Surname/Last), Date of Birth, Passport Number and the GIC IP Number (if known). In order to correspond with us, ensure that you only use the email address listed on your application form. For follow up emails, please include the email history so we may properly respond to your additional queries. Postponing your GIC Account with Scotiabank Q. I have opened a Scotiabank Student GIC Program account with you for an earlier study permit application, but never funded the account. Can I use the same Investment Account for the next school term? A. Yes, you may use the GIC account number already established, for the next intake session. Q. I have opened a Scotiabank Student GIC Program account with you and funded the GIC. Can I use my existing GIC Certificate (Investment Direction) to re-apply once again for a Study Permit? A. Yes, you can use your existing GIC Certificate (Investment Direction) for a new Study permit application. The Canadian High Commission will validate the GIC with Scotiabank directly. Q. I have changed schools, but have already funded my GIC Investment Account or have not funded my GIC Investment Account. Can I still use the same GIC Investment Account to apply for my study permit? A. Yes, you may use the same GIC Investment Account Number. In order to do so, send your new admission offer letter to newaccount@scotiabank.com. The Subject Line must state: Update- School Change, Student Name (Given/First and Surname/Last), Date of Birth, Passport Number and GIC IP Number. [Type text] 8 Registered trademark of The Bank of Nova Scotia

Note:. Changes, modifications, additions, or deletions to the terms to this guide shall be effective immediately upon notice thereof, which may be given by any means including, but not limited to, posting a new guide on the Scotiabank StartRight website. You should revisit this guide online prior to completing your application. [Type text] 9 Registered trademark of The Bank of Nova Scotia