🌍 For Newcomers & Immigrants

Financial Tools for Immigrants

Step-by-step guides, checklists and resources built specifically for the Punjabi immigrant community in Canada.

Insurance Guide
🛂
Super Visa Insurance Guide
Everything you need to know to bring your parents or grandparents to Canada safely.

What is Super Visa? A multi-entry visa allowing parents/grandparents to stay up to 5 years per visit.

  1. Purchase minimum $100,000 Canadian medical insurance
  2. Get a financial support letter from the Canadian sponsor
  3. Sponsor must meet LICO +30% income threshold
  4. Complete medical exam if required by IRCC
  5. Apply online through IRCC with all supporting documents
  6. Insurance must cover hospitalization, healthcare, and repatriation
💬 Get a Super Visa Insurance Quote
Interactive Checklist
✅
New Immigrant Financial Checklist
The 20 most important financial steps in your first year in Canada.
  • Apply for SIN immediately upon arrival
  • Open a Canadian bank account
  • Apply for a secured credit card
  • Register for CRA My Account
  • Apply for provincial health card
  • File your first tax return (even with $0 income)
  • Apply for GST/HST credit and CCB
  • Open a TFSA
  • Get a Canadian driver's license
  • Get life insurance while young and healthy
  • Check foreign credential recognition
  • Research government settlement programs
  • Set up an emergency fund (3 months expenses)
  • Get disability insurance if employed
  • Open RESP if you have children
  • Compare money transfer services (Wise, Remitly)
  • Create a monthly budget
  • Learn about RRSP
  • Make a will and name beneficiaries
  • Check credit score after 6 months (Borrowell)
Step-by-Step Guide
🏡
First Home in Canada Guide
Complete roadmap for buying your first home in Canada.

Key programs for first-time buyers: FHSA ($40K tax-free), RRSP Home Buyers' Plan ($35K), First Home Buyer's Tax Credit ($10K).

  1. Check credit score (aim for 680+)
  2. Open an FHSA and start contributing
  3. Save down payment (5% min for <$500K)
  4. Get mortgage pre-approval (compare 3+ lenders)
  5. Hire a buyer's real estate agent (it's free)
  6. Hire a real estate lawyer ($1,500–$2,500)
  7. Get a home inspection
  8. Budget for closing costs (3–5% of price)
  9. Get home insurance before closing
  10. Get term life insurance to cover mortgage
Credit Guide
💳
Credit Score Guide for Newcomers
Build a strong Canadian credit score from zero.

Canadian credit scores range 300–900. You need 680+ for best mortgage rates.

  • Get a secured credit card
  • Use it for groceries/gas only
  • Pay full balance monthly — no exceptions
  • Keep utilization below 30%
  • After 12 months, get unsecured card
  • Check score free monthly at Borrowell
  • Never miss a payment
  • Avoid multiple applications at once
⏱️ Timeline: 680+ in 12–18 months with consistent effort.

Have a Question?

Message us directly on WhatsApp — in Punjabi or English.

💬