Germany has recently announced an increase in the amount required for a blocked bank account for international students, raising it from €11,208 to €11,904. This change will come into effect on September 1, 2024, and will impact only those applying for a student visa. This increase reflects Germany’s commitment to ensuring that international students have sufficient financial resources to support themselves while studying abroad.

What is a Blocked Account?

A blocked account is a special type of bank account designed to demonstrate the financial stability of international students. It serves as proof that students have enough funds to cover their living expenses during their stay in Germany. The account is “blocked,” meaning that students can withdraw only a limited amount per month, ensuring that they have a steady financial flow throughout the year.

Financial Requirements for International Students

To secure a student visa, students must either show proof of scholarships or demonstrate their financial capacity by maintaining a blocked account with at least €11,904 for 12 months. This amount breaks down to approximately €992 per month. Additionally, students need to ensure that there is an extra €696 per year in the account. For Indian students, this translates to INR 1,083,264 for a year or INR 89,280 per month, with an additional INR 63,858 annually.

Impact on International Students

This increase in the blocked account amount means that students who wish to study in Germany must ensure they have more cash available in their bank accounts. This change underscores the importance of financial planning for students who are considering studying abroad in Germany.

Scholarships and Financial Support

International students can offset these costs by securing scholarships. Many scholarships are available for students aiming to study in Germany, covering tuition fees, living expenses, and other costs. Scholarships not only reduce the financial burden but also enhance the overall study abroad experience by providing additional resources and support networks.

Visa and Education in Germany

The German visa process requires proof of financial stability, and the blocked account is a critical part of this requirement. Ensuring that students have the necessary funds helps the authorities confirm that students can sustain themselves without financial difficulties. This policy aims to create a stable environment for international students, allowing them to focus on their education and cultural experiences.

Germany remains a top destination for international students due to its high-quality education system, diverse cultural experiences, and numerous career opportunities. With the right financial planning and support, studying in Germany can be a rewarding and life-changing experience.