I recently passed my senior secondary education and now I would like to study in Germany for higher education but i have no knowledge about blocked account. Can anyone tell me about the blocked account for a German study visa ?
A blocked account is required by the German Federal Government for international students who wish to study in Germany. The primary purpose of opening a blocked account is to ensure that students have sufficient funds to cover their living expenses while studying in Germany. Students must appeal for blocked accounts after getting admitted into a German University/college and before applying for a study visa. To open a blocked account with German banks, follow the given steps:
To open a blocked account, visit the official website of the company you selected, among Expatrio, Coracle, Fintiba, Remitx, and ICICI. Go to the blocked account section. Complete the online application by filling in your details and uploading a scanned copy of your passport and University admission letter.
The company will approve your documents and send you the IBAN in your email. By using the IBAN, you must fund the amount of €11208, program fees, monthly fees, & a buffer amount to your account. The money you deposited will be blocked in your account and cannot be accessed until you arrive in Germany.
The bank will release the money intended in your account only during the first year of your studies to support initial expenses such as rent, food, and health insurance. Once you arrive in Germany, the bank will release the amount of €11208 in twelve monthly installments, where you will get €934 every month throughout the first year of your studies.
