Germany Likely to Increase Blocked Account Amount to €11,172 Per Year

International students willing to study in Germany will have to deposit more money in the blocked bank account, effective from Autumn 2022. Currently, they have to furnish an amount of €10,332 to be eligible for a German student visa. However, the German authorities are expected to increase this amount to €11,172, starting from the fall semester of the 2022/2023 academic year. It also implies that the amount students can withdraw every month will shoot up from €861 to €931. 

A blocked bank account is a major requirement for international students to prove that they have the necessary funds to support themselves financially while completing their higher studies in Germany. 

The amount to be deposited in a blocked bank account had increased from €10,236 to €10,332 during the fall semester of 2020. The monthly limit of withdrawal had also witnessed a limited spike from €853 to €861. This suggested that the rise was only 0.93% earlier, and this year it will be 8.1%. 

Gent Ukehajdaraj from Studying-in-Germany.org stated the ongoing inflation that has affected the whole world as the reason behind the massive increase in the amount to be deposited in the blocked bank account. He was quoted as saying, “With the prices going up, in particular when it comes to food and accommodation, it is obvious that students too will be affected. As a result of it, the amount required for a blocked bank account will also increase more than in the past since the German authorities want to make sure that third country citizens studying at its universities have the necessary amount to support themselves while in Germany.”

The Ministry of Education and Research has proposed these changes to increase the number of applicants for BAföG, allowing citizens to continue their education and receive allowances irrespective of their financial means.