Germany to Increase Required Amount for Blocked Bank Account Soon

The amount that students from non-EU countries need to have in their bank accounts to study in Germany has been increased again by the German authorities. According to Studying-in-Germany.org, starting from September 1, 2024, all students applying for a German student visa must have at least €11,904 in addition to meeting other criteria. This amount must be placed in a special Blocked Bank Account (Sperrkonto in German), from which students can withdraw a maximum of €992 per month. This change has been announced by several German Missions abroad, as well as the German Academic Exchange Service (DAAD). From September 1, 2024, students applying for a German student visa will need to show proof of at least €11,904 for the first year, with a monthly withdrawal limit of €992. Currently, the requirement for the Blocked Bank Account is €11,208, a figure that has been in place since January 2023, according to Schengen.News. Gent Ukehajdaraj from Studying-in-Germany.org explains that the increase reflects the rising cost of living in Germany. The German authorities want to ensure that students can support themselves despite increasing living expenses. This precaution aims to prevent students from facing financial hardship. Before the 2020/2021 academic year, the required amount was €10,236, with a monthly withdrawal limit of €853. It was later increased to €10,332, an increase of less than one percent. The most recent increase is 6.2 percent. Germany remains a popular destination for international students, with over 450,000 foreign students in the 2022/2023 academic year. The top countries of origin are: