There is a
different set of students that have plans to pursue their engineering or
language courses in Germany especially. Germany is a country that definitely
offers global education at lower fees comparatively. But for that, students
also need to show the living expenses for at least a year, into a specific
blocked account (Sperrkonto) as per the Germany Student Visa Requirements.
There are
other ways to show their living expenses by scholarships/ stipends received or
by a sponsor letter, but the method of the blocked account (Sperrkonto) is the most popular one. The blocked account method also
provides surety to the government of Germany of safe and secure access for
living expenses for international students while they are studying in their
country.
This account enables the student to prove that he is capable
to take care of his living expenses while he is studying in Germany. This
account needs to be opened before applying for student visa for Germany but can
be accessible only after the student registers at the local residence authority
in Germany. This fixed amount – called
as the blocked money account allows to withdraw a certain amount in 12 equal
amounts for 12 consecutive months of the year as per the set guidelines of Germany Student Visa.
This account
cannot be accessed directly or does not allow withdrawal of the full amount.
While it cannot be even closed without the consent of the student.
So far, the
amount to be deposited was €8,640 for international students to
the blocked account so as to secure their admissions in the university for the
visa. The amount that could be withdrawn monthly was €720. This amount was calculated and ruled in the year 2008
which is now revised with rising costs around after these many years.
As per the
new updates in regard to the rising costs of living, the new amount to be
deposited would be €10, 236, allowing €853 monthly withdrawals.
The students
submitting their applications for their study abroad student visa to
Germany from the 1st September 2019, will fall in these set of
rules. The same will function for withdrawals from the 1st January
2020 for international students in Germany.
There are
many banks and NBFCs that help to open a blocked account for studying in
Germany to Indian students. Students can avail this from Kotak Mahindra and Deutsche Bank. Usually the students aren’t aware of
this wherein the education consultants can definitely guide the students on
such matters as well as to apply study loan for abroad studies.
Hope this
update helps to apply for your Germany Student Visa correctly! Best of Luck!
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