Studying in Germany: Blocked Bank Account Requirement to Rise to €11,904 From September 2024

Studying in Germany: Blocked Bank Account Requirement to Rise to €11,904 From September 2024

Students Now Need More Funds to Apply for a German Study Visa

Key Takeaways

1. Germany has increased the required amount in a blocked bank account by 6.2%.
2. Starting September 1, 2024, the required amount will rise to €11,904 from €11,208.
3. Experts attribute this increase to the rising cost of living in Germany.

The German authorities have raised the amount students from third countries need in their bank accounts to study in Germany. 

Starting September 1, 2024, all students applying for a German student visa must have at least €11,904 in a special blocked bank account (Sperrkonto) to qualify, aside from meeting other visa criteria. This account allows students to withdraw a maximum of €992 per month.

This update has been announced by several German Missions abroad, including those in India, as well as the German Academic Exchange Service (DAAD).

"The change in the necessary amounts to show sufficient financial means will be effective from September 1, 2024. Applications on and after this date will need to show proof of at least €11,904 for the first year, with a maximum withdrawal amount of €992 per month," stated German Missions in India.

Currently, the requirement is €11,208, a standard in place since January 2023.

Gent Ukehajdaraj from Studying-in-Germany.org notes that the yearly increase in the blocked bank account requirement reflects the rising costs of living in Germany, even for students.

"The German authorities want to ensure that students can support themselves despite the increasing living costs. This measure helps prevent students from facing homelessness or hunger in Germany," Ukehajdaraj added.

Before the 2020/2021 academic year, the required amount was €10,236 with a monthly withdrawal limit of €853. It increased to €10,332 from the start of the following semester, a less than one percent rise. The most recent increase is 6.2%.

Over 450k Foreign Students in Germany

The number of international students in Germany has been steadily increasing. Data shows that during the 2022/2023 academic year, Germany had 458,210 international students, making it the third most popular destination for international students and the top non-English speaking country.

The majority of these students come from:

  • India (42,578)
  • China (39,137)
  • Syria (15,563)
  • Austria (14,762)
  • Türkiye (14,732)
Study, Foreign, Schengen News, Immigration,

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