More Indian students are choosing Germany as their top overseas study destination. Have you considered why they enjoy Germany?
Germany is one of the world’s most progressive countries, having a fantastic location. Many student-friendly regulations exist in Germany. The best thing about Germany is that most of its universities are public institutions, so students can avoid paying astronomical tuition rates at private universities. In Germany, Indian students are the third-largest international student group. In 2021, more than 21000 Indian students were studying in Germany, according to government statistics.
For their high academic standards, German universities are well-known and respected worldwide. Their cutting-edge facilities, various funding options, research-based courses, award-winning curricula, diverse and active student community, and unique lifestyle ensure that you have the best possible learning experience. In terms of the operational side, there are no limitations on the number of hours that students can work in Germany. Due to this, students will be able to pay their financial obligations more rapidly. After students complete their studies, various respected organisations in Germany provide graduates with diverse job opportunities. Another reason why students see Germany as having such a bright future is because of its educational opportunities.
What documents are needed to study in Germany?
You must first obtain a visa to study in Germany as an Indian student. After receiving the admission letter, you can contact the German consulate in your native country.
For Indian students seeking a student visa to study in Germany, the following documents are required:
- Letter of Acceptance to University
- Financial Resources Proof
- Evidence of Health-Care Coverage
- University Admissions Requirements
- Language Proficiency Proof
What exactly is a German Blocked Account, and why is it important?
Since the money deposited into the account could not be taken out until the account user is in Germany, it is known as a “blocked account.”
The German blocked bank account (Sperrkonto) is a prerequisite when applying for a German student visa or a student residency permit. It is designed to serve international students and job seekers as proof of financial means for staying in Germany for a year.
Although there are alternative ways to demonstrate one’s financial situation, the banned account is the most popular among international students. A person intending to live in Germany for some time certifies that they can handle living and other expenses by assigning a particular amount of money (decided by the German government) to the blocked account.
Suppose you are an international student from a non-EU or non-EEA country. In that case, you must demonstrate that you have the financial resources to support your living expenses in Germany, according to German legislation.
For an international student from a country that is not a member of the EU or the EEA,
Obtaining a student visa and a study residence permit requires proof of financial resources.
The confirmation letter from the German Blocked Account shows that you have enough money to study and live in Germany for a year as an international student.
What is the meaning of the term “blocked account”?
One of the most common among International students is a German Blocked Account because the money deposited into it cannot be withdrawn until the account holder arrives in Germany, even though there are other means to demonstrate one’s financial condition.
Approval
A German blocked account was only available until a few years ago from Deutsche Bank, a well-known, fully licenced German bank. The incumbent supplier offers the most experienced solution, but it is built on antiquated processes and technologies that no longer satisfy today’s standards. The barred account opening process is a manual one that necessitates in-person verification at your local embassy and the actual delivery of documents worldwide. Expect high costs and a significant wait period, and a mountain of paperwork.
Three more well-known companies have entered the market since 2017, offering online solutions for German blocked accounts, health insurance, and other services. Most prohibited providers work with a partner bank or a financial service provider rather than acting as a bank.
While German embassies worldwide allow various sorts of barred accounts, German foreign offices follow the German Residence Act. According to administrative regulations, the blocked account must be held at a fully licenced German bank to receive a residence visa in Germany. It is crucial if you need to extend your access in Germany once you arrive for the duration of your studies or if you intend to remain longer.
Is It Possible to Study Without a German Blocked Account in Germany?
Yes, itt is possible to study in Germany without a blocked account if you can demonstrate sufficient financial resources by submitting one of the following documents:
1) A financial and income statement for your parents.
2) A certificate of scholarship from a reputable scholarship sponsor.
3) Verpflichtungserklrung (Letter of Commitment): This document guarantees that a permanent resident of Germany (a relative or a friend) will cover all of your expenses while you are a student.
4) A bank guarantee is required.
When Should You Open a German-Blocked Account?
An international student, you should begin opening a Blocked Bank Account after obtaining your Letter of Acceptance from your selected German university. It would be highly recommended to schedule an appointment with the German Embassy or Consulate, where you will submit your visa application. Begin opening your Blocked Bank Account once you’ve received the list of prerequisites.
What minimum amount must be deposited in a German Blocked account?
The sum required to be deposited into the German blocked account when applying for a student visa to Germany is 10,332 or 861 each month for your anticipated stay commencing January 1, 2021. (up to 12 months) This figure is the minimal amount of money deposited into a blocked account to prove your financial ability to obtain a student visa (Finanzierungsnachweis).
Providers of Blocked Accounts in Germany
- Deutsche Bank is a financial institution based in Germany
- ICICI Bank is a bank in India.
- Fintiba
- Expatriate
- Coracle
