How to Open Deustche Bank Blocked Account for Study in Germany?
If you’re planning to study abroad in Germany, you are required to demonstrate that you have sufficient funds to cover your stay and living in Germany.This requirement is to be fulfilled by opening a Blocked Account also called as Sperrkonto. The money in the blocked account will remain ‘blocked’ until the account holder arrives in Germany.
Why Blocked Account?
A blocked account is a compulsory requirement to apply for a German student visa for study in Germany. Students are required to have €8,740 in the blocked account at their disposal for one year. The maximum amount a student can withdraw from a blocked account is €720 per month.
Students can open the blocked account with any branch of Deutsche Bank or Kotak Mahindra Bank in India or Germany. Once you arrive in Germany, the account is transferred to the local bank branch near your university.
How to Open a Blocked Account?
There are two ways to open a blocked account.
- Through German Embassy/Consulate
- Directly through Deutsche Bank or Kotak Mahindra Bank in India
Through German Embassy/Consulate
Make an appointment with the German Consulate near you by sending an e-mail for getting the required documents certified. Then, download the bank application form from the official website of the Deutsche bank and after filling it completely, visit the local German Embassy/Consulate to get your completed form and a copy of your passport certified. Other documents to take along include- admission letter from the German university (though, not mandatory), two passport size photographs, appointment mail copy and an identity proof (usually your passport).
Once the application form is certified, send it to Deutsche bank at the below-mentioned address-
Deutsche Bank Privat und Geschäftskunden AG
Service Center Hamburg/Ausländische Studenten
Alter Wall 53
This office in Hamburg, Germany will set up a blocked account for you and inform you via post as well as email about the necessary bank details. This will cost a one-time fee of €150. It takes around 2-3 weeks in order to open the blocked account. After your account is opened, you are required to deposit a minimum of €8740 in it.
Plus, after the account is opened, the respective bank branch would send the confirmation mail along with the details to the German Embassy/Consulate. This is a mandatory requirement for the student to get a Student Visa for study in Germany.
Through Deutsche Bank
You can open the blocked account with your nearest Deutsche bank in India. The bank takes care of all the formalities, including forms authentication. You can complete the entire process via post within India. This is convenient as you do not have to visit the German Consulate for authentication.
Tip- 1: Once you arrive in Germany, visit the Deutsche bank branch and fill in a service order in order to activate your blocked account.
How to get money from blocked account?
There is a withdrawal limit placed on the amount of money that can be withdrawn or transferred by the account holder. At present, an account holder is allowed to withdraw a maximum of €720 every month from the blocked account.
How long does it take to open a blocked account?
If you’re opening the blocked account directly via the Deutsche Bank, the process takes 1 week.
If you’re opening the blocked account via the Germany Consulate/Embassy, the processing time is 2-3 weeks, so apply early!
How to Transfer Forex into blocked account?
You can transfer the money from any nationalized bank into the blocked account. It is advisable to make the transactions in Euros. However, if that is not possible, make use of services by companies, like Transferwise or Western Union.
Note-1: Processing and Transferring fees will be levied; it varies depending on the bank.
Note-2: Transfer takes 3-5 working days!