All international students will have to prove that they have enough money to support themselves before beginning their studies in Germany. Finanzierungsnachweis, also known as proof of financial resources, is one of the essential documents international students need to possess in order to apply for a German study visa. The Studying-in-Germany.org report suggests that all international students who want to study in Germany must deposit a minimum of EUR 10,236 to a blocked account to get a German student visa.
Interestingly, the money deposited to the blocked amount is known as ‘Regelbedarf.’ The blocked amount shows that the living cost of an international student is fully covered for a year to survive in Germany smoothly.
Blocked bank account
It is known as a blocked account as students cannot withdraw money deposited into it until they arrive in Germany. Many international students use a blocked account to secure admissions to German universities.
It may seem complicated, but opening a blocked account is relatively simple and easy. In general, German students open an account with Deutsche Bank. Students can apply for the account opening online as well.
Remember that students need to start the bank opening account process between 4-12-week before the beginning of the semester to ensure that they have enough time to access the money before their studies begin.
Important tips for opening a blocked account to study in Germany
We will provide you with a few tips to help students open a blocked account as proof of a secured livelihood in Germany. Do remember that the blocked account is a critical document to obtain a Germany visa for students. So, let’s start with these crucial tips without further ado.
- Apply as soon as possible
International students can open a blocked account online or at various local banks in Germany. Students need to go through respective offers prior to choosing a bank to open an account. Usually, it takes around a week to process the paperwork, but sometimes it could take longer. Thus, students are advised to apply for a blocked account early.
- Get application and other documents certified
Some local banks in Germany will ask students to complete forms and provide a passport copy certified by a German consulate/embassy before sending documents to the financial institute. Remember that banks only accept original documents and not scanned copies. So, we recommend students go for an online procedure to open a blocked account.
- Open a blocked account
Following the bank approves the required documents, the officials set up an account for students. International students need to pay a one-time fee, i.e., EUR 50 – EUR 150. As soon as the blocked account is open, students need to deposit EUR 10,236 into it.
- Withdraw your money
International students should make an appointment in a branch office of the particular bank on their arrival in Germany. The bank will provide students with an EC card to withdraw money from ATMs.
Now that you have understood that opening a blocked account is not a daunting task, apply to the top-ranked universities in Germany’s Berlin for a rewarding future. Hurry up!