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Germany announces increase in Blocked Account Amount for foreign students

The Federal Foreign Office of Germany has increased the amount of money that foreign students wishing to study in Germany need to attest owning, for nearly 20%. While up to now, international students needed at least 8,640 euros deposited in a blocked account in a bank in Germany, now the amount has increased to 10,236 euros.

From 1 January 2020, the presumed annual requirement that must be paid into the blocked account when applying for a visa will increase to 10,236 euros. This increased amount applies to all visa applications submitted from 1 September 2019,” the Federal Foreign Office said in a notice published on their website.

Foreign Students Will Need €10,236 to Apply for a Germany Study Visa.

Proof of sufficient financial means is one of the main requirements for a Student Visa for Germany and a Blocked Bank Account is the most common and efficient way to do so. The amount of money required to be deposited is calculated to cover the living expenses, thus meeting the requirement to have the necessary financial means to live in Germany as a student for a year.

Once in Germany, students can then withdraw a certain amount of money monthly. While this amount is currently 720 euros, it will increase to 853 euros from September 1, this year.

The Federal Foreign Office of Germany highlights that a blocked account only ensures that sufficient funds to cover living expenses are always available and it does not entitle the student to withdraw money from the blocked account.

Who is affected by this change?

Unfortunately, almost all student applications are affected by this change, even if you’ve applied before the prescribed date. The latest update from the Germany Embassy New Delhi states, all applications started from August 1, 2019 must already have the necessary increased amount of €10,236. Those who did before will not need to have it before but will need to have it when the visa is prolonged in Germany.

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This would mean, even if you have already applied or received the visa, you still will have to show the required funds when you apply for a prolonged residence permit in Germany.

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