What is Blocked Account (Sperrkonto)
A Blocked Account (Sperrkonto) is required if you are planning on financing your studies yourself.
One option to fulfil this requirement would be to open a blocked
account at Deutsche bank
in Germany or at a
branch of Kotak Mahindra Bank in India
You will have to deposit a minimum of EURO 8040,- in a blocked account in a bank in Germany and you can only withdraw a maximum of EURO 670,- per month. (Check the exact amount from Embassy)
You must make this change in the account opening form to ensure that you don't face problem later on.
This has to be opened when you are in India.
Do I need a confirmed admission to apply for Blocked account?
No. It is not required. Blocked account can be opened before getting admission letter.
How to open a block account in Deutsche Bank, Germany ?
There are 2 ways to open the blocked account. In first option, it can be opened by Deutsche Bank India. In the second option, you have to visit German consulate.
|GermanyMantra provides a unique service in collaboration with Deutsche Bank to open Blocked account. Using this service, you can open blocked account without going to German Consulate. All the procedure can be completed by post within India. The entire process takes about 1-2 weeks. There is no fee charged by GermanyMantra. The entire process can save upto Rs.Ten thousand (savings on courier charges and better exchange rates for GermanyMantra's students)|
This service includes:
- Suggesting correct forms and Guidance to fill them
- Verification of documents
- Forms authentication
- Sending Forms to Deutsche Bank Hamburg Germany (No courier charges for sending forms to Germany)
- Converting INR into Euros and transferring into Blocked Account in Germany after opening of Account.
- Religiously Tracking and Updating of Blocked Account Process
- Direct Contacts in Hamburg Germany in case of any Delay.
- Guidance and responding to student in case of any queries.
- Transparent Communication of all processes by Deutsche Bank AG.
- The above service is available for Indian students all over India living in any city, town etc.
- To use this service submit your details in online form on right hand side
- Obtain information and the application forms from website given below. Please note that depending on the age (< 18 years or >= 18 years) the forms are different.
- After filling out the application form, you will have to get your signature and a copy of your passport certified by the German Embassy as per instructions given in the form.
- Send the application form to the address stated below in Germany
- Deutsche Bank Privat- und Geschäftskunden AG
Alter Wall 53
- The above mentioned office in Hamburg arranges the opening of an account with the office of the future residence and informs you directly, without intervention of the General Consulate, by post and parallel by email about the account number, BLZ and IBAN of the opened account. It takes 2-3 weeks to open account.
- finally you transfer the necessary amount + EUR 50 towards bank charges to the account and prove this to the German Embassy/Consulate in your home country (India). DB will also inform embassy about the same.
How to open a block account in Kotak Mahindra Bank, India ?
You can contact any branch of Kotak Mahindra in India and request opening of a blocked account for student visa for Germany. You will have to present proof of opening of such account at the time of applying for your visa. After having arrived in Germany, you can request Kotak Mahindra Bank to transfer the full deposited amount into a blocked account at any local bank in Germany. Please submit the e-mail confirmation regarding the activation of your blocked account and the transfer of the amount of at least 7908 Euro at your visa interview.
DISCLAIMER: Please contact Deutsche bank, Hamburg, Germany directly for any query. Any information from DB is final and binding
Is this money sufficient for entire duration of study?
No!! On time of arrival (in addition to rental, registration and living costs) you also need to pay tuition fees and semester contribution to enrol at the University. (This note is valid for those students who haven't got an exemption from tuition fees).
The costs are approx. 700 € and therewith higher than your monthly limit of withdrawal. Corresponding to this blocked account you may not be able to pay these semester fees. So please remember to bring enough money in addition to be able to pay for these costs. Or cover your account with a higher amount corresponding to the requested additional fees.
Also please remember that you will have to pay these additional costs every new semester and therefore need to have enough money on your account.