Study Abroad: Germany Unveils Free Blocked Accounts for International Students

Expatrio, a blocked account provider in Germany is offering international students a chance to open a blocked account. This will help students to save up to €109 with no additional cost. However, the offer is valid until the end of July.

The bank charges typically €49 to set up the account and a monthly fee of €5 (€60 per year). Also, after the application students will receive a cashback on all fees once they activate their account and health insurance. 

The bank will also open many doors for international students. The free blocked account services will make student’s life easier while studying in Germany.

A blocked account or Sperrkonto is a type of bank account, into which an applicant must deposit a fixed amount of money. The money will provide evidence of funds by which students can support themselves. 

International students planning to study in Germany must complete the process. And remember to enjoy the beneficial deals offered by the blocked account provider. 

As Per New Regulations in Germany

Students from non-EU or non-EEA nations are required to have €11.417 in their blocked accounts, or €934 each month for a year. 

However, since January of this year, this sum has grown by 8.5 per cent, since the previous year’s deposit requirement was €10,332.

Furthermore, the Federal Foreign Office stated, an amount of €11,208 is to be paid into the block account while applying.

Moreover, the account holders cannot access the money until they get to Germany and are therefore referred to as frozen accounts. Obtaining study visas is one of the primary prerequisites for overseas students.

For more such exciting news updates, make sure you contact Leverage Edu to start your study abroad Journey.