Hye, Guys, I am planning to study in Germany, but I don't know much about the process and requirements. Recently, I heard that we need a blocked account, like a GIC account for Canada. Why do I need a blocked account to study in Germany?
Hello It's exciting that you're planning to study in Germany Yes, you're right, international students planning to study in Germany are generally required to open a blocked account, similar to the GIC account requirement for Canada. The blocked account serves as proof that you have sufficient financial resources to cover your living expenses while studying in Germany even its such a evidence which make your profile strong to get your study permit.
Let me explain why the blocked account is necessary.
Why Do You Need a Blocked Account in Germany?
The blocked account is a requirement to demonstrate that you have enough funds to support yourself while studying in Germany. This is to ensure that students can financially support themselves during their studies without having to rely on public funds or illegal work.
Don't worried let me explain you what are the main reasons for why you need block account.
Visa Requirement When you apply for a German student visa or residence permit, one of the key requirements is proof of sufficient financial resources. The blocked account serves as evidence that you can afford to live in Germany without needing to rely on public assistance or overstaying your visa.
Financial Security Germany wants to ensure that students have enough money to cover living costs while studying there, such as accommodation, food, insurance, and transportation. By having a blocked account, the German authorities are confident that you will not face financial difficulties during your stay.
Monthly Withdrawal Limit The blocked account allows you to access a fixed amount of money each month (typically €934 per month as of 2024). This is the minimum amount of money you need to live in Germany. The idea is that the money is released monthly, ensuring you have a consistent income during your studies.
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