Germany Blocked Account: How to Open a Blocked Account for Germany?

If you're an international student planning to pursue higher education in Germany, you must have heard about the term "blocked account" in your research. Opening a blocked account is a necessary requirement for many students applying to German universities. It serves as proof of financial stability and ensures that you have sufficient funds to cover your living expenses during your stay. Understanding the process of opening a blocked account is vital to meeting the visa requirements and successfully embarking on your educational journey in Germany.

What is a blocked account?

A blocked account in Germany, also known as "Sperrkonto" in German, is a specific type of bank account that international students or professionals are required to open before arriving in Germany. A blocked account is used to prove sufficient financial resources to cover living expenses while studying or working in the country. The account "blocks" a predetermined amount of funds set by the German authorities, and restricts withdrawals to a specified monthly limit.

To demonstrate their financial stability during the initial year of study in Germany, international students must have a minimum blocked account Germany amount of EUR 11,172. This amount will be held in a bank account and inaccessible until the arrival of the student in Germany. Every month, the student will be able to withdraw EUR 931 to cover their living expenses while residing in the country.

Candidates should maintain a slightly higher amount in a blocked account Germany than the minimum required, as the bank may apply service charges for opening the account. Ideally, the funds in the blocked account Germany should be sufficient to cover expenses such as accommodation, living costs, and transportation passes for students studying in Germany.

What is the Purpose of Opening a Blocked Account?

The main purpose of the Germany-blocked account is to ensure that individuals have access to enough funds to support themselves during their stay in Germany. This requirement guarantees that students or professionals can cover essential expenses such as accommodation, health insurance, food, and other daily needs. By demonstrating financial stability, the German government aims to avoid potential financial difficulties for foreigners during their time in the country.

How to open a Germany-blocked account?

Opening a Germany-blocked account involves a few essential steps:

Step 1 - Research and select a reputable German bank or service portal such as Fintiba and Expatrio that offers blocked account services. Some popular banks include Deutsche Bank, Commerzbank, Deutsche Bank, and DKB (Deutsche Kreditbank AG).

Step 2 - Complete the application form provided by the chosen bank or portal. The form usually requires personal information, proof of identity, and details about your intended stay in Germany.

Step 3 - Transfer the required amount of money (as determined by the German authorities) into the account. You must have a blocked account amount for Germany of around EUR 11,172 for one year, which will be blocked and can only be accessed in predefined monthly installments.

Step 4 - Gather all necessary documents, such as your passport, admission letter, and proof of address, to submit along with your application.
 

Step 5 - Once the bank processes your application and receives the funds, they will provide you with a confirmation letter that verifies the existence of the blocked account. You can use this document to fulfill the financial requirements for your visa or work permit application. Once the Germany-blocked account is opened, the bank will send a confirmation e-mail with the details to the German embassy.

Documents required for opening a Germany-blocked account

You need the following documents to open a Germany-blocked account:

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  Application form
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  Valid passport
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  Admission letter
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  A bank statement that confirms you have the required amount of money to open a blocked account
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  A prepaid fee

Points to keep in mind while opening a Germany-blocked account

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  Monthly withdrawals: The Germany-blocked account amount restricts monthly withdrawals to a specified amount, usually around EUR 931. This ensures that the funds are spread out throughout your stay in Germany.

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  Health insurance: It is important to note that having health insurance is mandatory in Germany. Make sure to arrange for health insurance coverage before arriving in the country, as it is a prerequisite for opening a blocked account.

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  Duration and renewal: The blocked account Germany usually covers the duration of your study or work permit. If your stay extends beyond the initial period, you may need to renew or extend your blocked account accordingly.

By opening a blocked account, individuals can demonstrate their ability to cover living expenses, ensuring a smooth and successful experience abroad. Although the process may seem complex, obtaining a Germany-blocked account is a manageable task with the right information and preparation. Plan, choose a reputable bank, and fulfill all the requirements to embark on your German journey with confidence.

If you're considering studying in Germany and need financial assistance, GyanDhan is here to help. We specialize in providing education loans for students pursuing their dreams in Germany. Our dedicated team can guide you through the loan application process, offering personalized support and competitive interest rates. Don't let financial constraints hold you back from your educational aspirations. Check your education loan eligibility with GyanDhan today and take the first step towards a successful academic journey in Germany.

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