Studying in Germany: Required Amount for a Blocked Bank Account to Increase to €11,904 From September 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).

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.

The amount required for a Blocked Bank Account in Germany has been increasing yearly, at different rates.

Commenting on the increase, Gent Ukehajdaraj from Studying-in-Germany.org, says that the move reflects the increase in the costs of living in Germany, even for students.

The amount before the 2020/2021 academic year was as low as €10,236 with a monthly withdrawing limit of €853.

Later on, the authorities increased it to €10,332 from the start of the semester, an increase of less than one per cent.
The most recent increase is 6.2 per cent.

The number of international students in Germany has been continuously increasing in the recent years.

Data show that during the 2022/2023 academic year, the country counted 458,210 students from abroad, what makes it the third most popular country for international students and the first among non-English speaking countries.

Source : https://schengen.news/studying-in-germany-required-amount-for-a-blocked-bank-account-to-increase-to-e11904-from-september-2024/