Under current law regulations in Germany, if you're an international student coming from a non-EU or non-EEA country, then you must prove you have the financial resources (Finanzierungsnachweis) to cover your living expenses in Germany.Proof of financial resources is an important condition to get your student visa and your study residence permit.
In this article, we show you how to open a blocked bank account in Germany.
What is a Sperrkonto or Blocked Bank Account?
In general, there are three types of bank accounts in Germany:
Girokonto (Checking or Current account) Sparkonto (Savings Account) Sperrkonto (Blocked account for foreign students)
The blocked account is a special type of bank account in Germany created for international students, so they can prove they have the financial resources to live in Germany for one year during their student visa application.
Sperrkonto is designed to serve foreign students and job-seekers as a proof of financial resources for staying in Germany. Even though there are other ways of showing one's financial standing, this account is by far the most common one among international students.
By allocating a certain amount of money at the blocked account over a fixed limit set by the German government, a person willing to reside in Germany for a period of time testifies he's able to handle living and other expenses during that time.
It is estimated that a normal foreign student in Germany spends around €720 euros per month at a minimum.
If you multiply this number by 12 months you get €8,640. In other words, this is how much you'll need at the minimum to live in Germany for a year. Therefore, this value sets the minimum amount of money required to be deposited in the blocked account so you can prove your financial means (Finanzierungsnachweis) to get a student visa.