Understanding Germany’s New Blocked Account Requirements for Student Visas in 2024
For international students planning to study in Germany, the financial requirements for a student visa are changing in 2024. A blocked account, which is essential to prove you can support yourself financially during your stay, will soon require a larger deposit. As of September 2024, the amount you must deposit into the blocked account will increase from €11,208 to €11,904 for a 12-month period, or €992 per month.
What Is a Blocked Account?
A blocked account is a special type of bank account where international students deposit a fixed amount of money. This money is then released in monthly installments to cover living expenses. It serves as proof to German authorities that you have the financial means to study and live in the country.
Why Is the Amount Increasing?
This increase is tied to Germany’s student financial aid program (BAf?G) and reflects rising living costs. The goal is to ensure students have enough funds to cover rent, food, insurance, and other essential expenses throughout their stay in Germany.
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How Does It Affect You?
The updated blocked account requirement will apply to all student visa applicants starting from September 2024. It’s crucial to plan ahead and ensure you have the required funds in place before submitting your visa application. Failing to meet the financial requirement could delay or hinder your visa approval process.
Choosing the Right Blocked Account Provider
Not all blocked accounts are accepted by every authority, so it’s important to choose a trusted provider. Popular options like Expatrio offer fast processing and the ability to combine blocked accounts with health insurance, simplifying the visa preparation process.
Conclusion
Germany’s new blocked account requirements aim to ensure that students are financially secure during their studies. If you’re planning to apply for a student visa in 2024, make sure you’re aware of the new financial obligations and prepare accordingly to avoid delays.