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Studying in Germany: Blocked Bank Account Requirement to Rise to €11,904 Starting September 2024
Jul 20, 2024
The amount students from third countries wishing to start studying in Germany are required to have in their bank accounts has been increased once again by the German Authorities.
According to Studying-in-Germany.org, starting from September 1, 2024, all students applying for a German student visa will need to have at least €11,904, in order to qualify for such a visa, in addition to meeting the other criteria.
The money should be placed in a special bank account, known as a Blocked Bank Account (Sperrkonto in German), from which students can then withdraw a maximum of €992 per month.
The move has been announced by several German Missions abroad, including the one in India, as well as the German Academic Exchange Service (DAAD).
Expected from September 1, 2024, there will be a change in the necessary amounts to show sufficient financial means. Applications on and after September 1, 2024 will most likely have to show proof of at least €11,904 for the first year, with a maximum withdrawal amount of €992 per month.
Currently, students who apply for a German student visa are subject to the old Blocked Bank Account amount requirement, which is €11,208. The same requirement has been in place since January 2023, Schengen.News reports.
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