Often new immigrants in Canada are having hard time in getting credit card and /or opening bank accounts. It looks ICICI Bank of Canada is having a solution to eliminate this problem. Please check the following link for details:
http://www.icicibank.ca/can_1.htm
Thanks and regards.
Biomed
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"Change before you have to" : Jack Welch
Location: Moving soon to Toronto
Posted on: 30-09-04 13:18:54
Hi Biomed,
I have checked from ICICI Bank in New Delhi, India...and they have told that we need to deposit Can$10000 in their bank to get the credit limit (which they say is preapprved by Master Card) of Can $ 1000.
NRI Account.
Infact I was also excited about this offer...But Hey, these guys are offering good deals on NRI accounts for those Indian who are about to Land in Canada as we would be able to operate thru Internet and ATM's etc. + real advantages like No Transaction fee on Money Transferring to India....thru their web site : http://www.money2india.com" rel="nofollow">LINK
Also, there is a choice of appointing one person (Mandate Facility) of our choice who can withdraw money from our account (Using Cheque Book)right there in India..while we are away in Canada...
I am sure that in future they will surely come out with better options...
Maverick
Quote:
Orginally posted by Maverick
Hi Biomed,
I have checked from ICICI Bank in New Delhi, India...and they have told that we need to deposit Can$10000 in their bank to get the credit limit (which they say is preapprved by Master Card) of Can $ 1000.
NRI Account.
I do not think $10,000 will have to be locked with ICICI bank for credit limit of $1000. You will have to clarify for how much time should $10,000 be with ICICI bank.
You can get a credit limit of $1000 from Scotiabank and TD Bank by depositing $1000-$1200 (security).
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Quote:
Orginally posted by Maverick
Hi Biomed,
I have checked from ICICI Bank in New Delhi, India...and they have told that we need to deposit Can$10000 in their bank to get the credit limit (which they say is preapprved by Master Card) of Can $ 1000.
NRI Account.
Infact I was also excited about this offer...But Hey, these guys are offering good deals on NRI accounts for those Indian who are about to Land in Canada as we would be able to operate thru Internet and ATM's etc. + real advantages like No Transaction fee on Money Transferring to India....thru their web site : http://www.money2india.com" rel="nofollow">LINK
Also, there is a choice of appointing one person (Mandate Facility) of our choice who can withdraw money from our account (Using Cheque Book)right there in India..while we are away in Canada...
I am sure that in future they will surely come out with better options...
Maverick
I just checked with ICICI Bank. According to them, to get a credit card you must meet ONE of the following conditions:
1. Get a reference letter from the Manager of ICICI Bank ( this can be obtained after a short interview). This letter will waive the security deposit requirement and would be attached with your credit card application.
2. You deposit C$ 1000.00 (Canadian Dollar ONE THOUSAND only) and you will get a secured credit card against your deposit.
I don’t think it is a bad deal, isn’t it?
Thanks and regards.
Biomed
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"Change before you have to" : Jack Welch
Location: Moving soon to Toronto
Posted on: 30-09-04 15:59:13
Yeah Biomed,
It surely is a good deal..But I don't know why these Guys in New Delhi did not have all those information which you guys have...Anyway, I will check with them tomorrow again and post the message...
btw, thanks a lot for the info.
Maverick
