Blocked account for Germany
Education is free in Germany, still there are some expenses which has to be borne by yourself.
To issue a visa for Germany, a proof of adequate financial means is required. This means that the student needs to be in the position to secure living expenses for the period of studies in Germany. At the time of application for a visa the students need to prove a monthly allowance of at least € 861.00 for the first academic year of the studies (in total € 10,332.00). It is however strongly recommended that you check the required amount on the website of the relevant embassy or authority.
The easiest way to do so is by opening a Blocked Account in Germany.
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 enroll at the University. (This note is valid for those students who haven't got an exemption from tuition fees).
The costs are approx. 700 € per month 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.
Caution: While opening Bank account, students should not take any unwanted Health insurance, Life insurance, Medical insurance or any other type of product unless really required for any other reason. It is not required to buy such product/service to open blocked account.