GIC key refers to the Guaranteed Investment Certificate (GIC) issued by Canadian financial institutions. It is an investment option often used by international students and immigrants to meet the financial requirements for studying or immigrating to Canada. The validity period of a GIC key depends on the terms and conditions set by the financial institution that issues it.
Typically, GIC keys have a lock-in period of one to five years. During this lock-in period, you cannot withdraw the funds from your GIC key. However, the funds will earn interest at a fixed rate. After the lock-in period, you can access the funds and withdraw them as needed.
It's important to note that GIC key validity is separate from the length of your study permit or immigration status in Canada. The GIC key is simply a financial requirement that needs to be met and maintained to fulfill the obligations associated with your study or immigration application.
Consult with the financial institution that issued your GIC key or review the terms and conditions provided to you for specific details regarding the validity period of your GIC key.