Germany Raises Blocked Account Amount Requirement for International Students

Key Highlights

1. The German Government has decided to increase the Germany blocked account amount for international students from  €11,208 to €11,904. This will cost around €992/ month.

2. The main purpose of the German blocked amount is to ensure that international students have a dedicated financial resource to support themselves while studying in the country.

3. The minimum requirement of funds is dictated on a BAföG rate basis, which directly translates to Bundesausbildungsförderungsgesetz, or Federal Training Assistance Act. It is a student financial aid program in Germany.

4. These German blocked accounts are regulated in a way where the withdrawals are limited to ensure that the student can sustain financially throughout the year in the country. 

5. Germany hosts a huge flock of students every year. It hosted around 458,210 international students in the 2022–2023 academic year and is expected to host a higher number in 2024-25.

One of the major Germany student visa requirements is to secure a specific amount of money. This basically helps the German authorities to understand your financial situation and that you have enough financial resources to sustain and support yourselves in Germany. To fulfill this requirement, at the time of visa approvals, the German government asks you to deposit a specific amount in a particular account called a German blocked account.

There is a specific amount of money that needs to be deposited in this account. Till 2023, the blocked account amount was €11,208 (€934 per month). But, based on the recent Germany student visa news coming from Studying-in-Germany.org starting from September 2024, this rate is rising to €11,904 for 12 months, or €992 a month.

The basis for deciding this rate is based on the BAföG rate, which is a financial aid for students in Germany. The minimum amount of money that a student needs to have in their blocked account in Germany is so that the visa authorities there ensure that the student has the necessary funds to sustain throughout the year. 

There is also a monthly limit to the amount of money that can be used or withdrawn from the blocked account. A blocked account also acts as evidence during the German student visa application that the student has enough financial resources to survive in the country without an issue. The blocked account amount should be sufficient to cover the costs that arise for students once they initiate their studies in the country. 

The blocked account may only be closed with the consent of the blocked account beneficiary. The blocked account beneficiary is either the mission abroad or, after entering Germany, the competent foreign authority. A blocking notice therefore only ensures that sufficient funds to cover living expenses are always available. It does not entitle the blocked account beneficiary to withdraw money from the blocked account.

Many countries have specific providers that offer blocked accounts, and some banks also offer special blocked accounts for students of universities located in their area of operation. Students are advised to work on the documentation early on and submit the completed forms and a copy of their passport to a German diplomat in their home country before sending them and submitting them to the bank of their choice.

The average bank fee for setting up a German blocked account is between 50 and 150 EUR. Students can access the money once they arrive in Germany and retrieve their EC card. The monthly withdrawal for students is, in any case, around €934, which will now be €992. It is to be noted that Germany has seen a spike in international student numbers, with around 458,210 international students enrolling overall as of 2022–2023.

TL;DR

Based on the recent Germany student visa news, students will now have to deposit around €11,904 annually in their German blocked account. Earlier, the amount was €11,208. This is a basic requirement to ensure that the students enrolling and moving to Germany have enough financial resources to help sustain their stay in the country. There is also a restriction on the withdrawals from the blocked account amount. The amount is based on the BAföG rate, which is a financial aid provided to students in Germany. One of the major factors to note here is that Germany has seen a huge spike in the total number of international students in the country.