BLOCKED ACCOUNT

BLOCKED ACCOUNT

Planning to pursue higher education in Germany? Good for you! But be prepared to follow some procedures that ‘studying in Germany’ brings with itself, one of them being the blocked account in Germany. Since you are a citizen neither from an EU country now from any EEA country, you will be required to prove your financial health (or Finanzierungsnachweis) while you pursue higher education in Germany. And for that, you will need to open blocked account in Germany with a German bank and thereby deposit funds in it.  This proof of your financial health not only enables you to study in Germany but assist you in obtaining the student visa and residency permit. Ahead in this article, you will be made available of the detailed information about a blocked account in Germany.
 

DESCRIPTION OF A BLOCKED ACCOUNT

A blocked account in Germany is a kind of account especially designed for the international students arriving in Germany for educational purposes. The account serves as a proof that the international students possess sufficient financial resources to manage their stay in Germany. Another name of this blocked account is ‘Sperrkonto’ and acts not only as a financial evidence for the international students but to those too who have come to Germany in pursuit of a job. Although you can opt for other ways also for evidencing your financial standing, the concept of blocked account in Germany is considered the most popular one among the international students.

After you have deposited a particular amount of money in the German blocked account as determined by the government of Germany, you have officially given a testament of your capability to manage your expenses while living for a particular time in Germany. As per the reports of 2018, it was indicated that the average expenses of an international student amounts to a figure of around 720 Euros. And 12 times of 720 makes 8,460 Euros (Annual Expenditure). Hence, this is the minimum amount you need to deposit in the blocked account to ensure your stay in Germany. Also, do understand that the monthly minimum expenses determine the maximum amount you can withdraw from the blocked account on a monthly basis. So out of the figure of 8,460 Euros, the amount you can withdraw in a month cannot exceed 720 Euros.

If we talk about the time it will take to open blocked account in Germany, then there can’t be a certain answer to this. The duration for opening a blocked in Germany depends on various factors such as the relationship of Germany with your nation, your provider, the working pace of the German embassy in your nation, paperwork, etc. if all these above mentioned factors go in flow with each other, then it wouldn’t take more than a week for you to gain access to a German blocked account.
 

WHO WLL NEED A BLOCKED ACCOUNT?

In general, all those people who do not belong to any EU/EEA country are required to open blocked account in Germany. Mostly the international students who have got their admission letter from any German Universities can apply for a blocked account in Germany. Moreover, job seekers too require opening a blocked account in Germany. Au pairs (Domestic assistants from a foreign country) further require opening a blocked account in Germany.
 

PROCEDURE TO OPEN A BLOCKED ACCOUNT

The procedure of opening a blocked account in Germany my take a period as long as one month if you are opening it during the admission season. So better would be if you open it at the earliest. To open a blocked account in Germany, the first and foremost step you need to take is to select a bank in which you will be opening the account. Afterwards, you need to apply online to the bank by filling the application form. After you are done with the application form, you should look after the legalization process in the German embassy. After the legalization process, you ought to deposit the required funds in the account. And once you have received the confirmation, you are good to go!

There are certain documents that you need to keep with yourself while opening the blocked account in Germany. However, the required documents may vary depending on the bank provider you have chosen, and the nation from where you belong to. If you are planning to open blocked account in Germany with the Deutsche Bank, you will need the following documents.

  • Duetsche bank blocked account application form
  • Your valid passport
  • The admission letter from your university
  • A bank statement of your income
  • A prepaid fee

     

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MOKSH has its branch offices in 12 cities of India now so there is no need to travel all the way to the Mumbai Head office for a personal counselling! You can still do so if you wish though. To get to a MOKSH office in your own city for a free personal counselling session on MBBS Abroad right up to PG in USA/ Germany, You call on 9699360370 and our counsellor shall arrange a Personal counselling session in your city or the closest location to you.
 

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The students who register with MOKSH for MBBS Abroad get a higher priority in the scholarship test. You can call on 9699360370 to get further information on the scholarship test of 2018!
 

Why Study in Germany through MOKSH?

MOKSH is one of the top education consultants in Mumbai. There are very few overseas education consultants which represents Study in Germany on such a large scale. An already existing list of Study in Germany consultants is present in India. There are many consultancies in Hyderabad and other Indian cities. MOKSH is one of the best. Thus, along with Mumbai, it also serves as a consultancy in Hyderabad and other cities.