As part of your student application, you are required to provide proof of sufficient funds to cover your living expenses in Germany. One option to fulfil this requirement would be to open a blocked account at a branch of Kotak Mahindra Bank in India You can contact any branch of Kotak Mahindra in India and request opening of a blocked account for student visa for Germany. You will have to present proof of opening of such an account at the time of applying for your visa. After having arrived in Germany, you can request Kotak Mahindra Bank to transfer the full deposited amount into a blocked account at any local bank in Germany Please submit the e-mail confirmation regarding the activation of your blocked account and the transfer of the amount of at least 10,236 Euros from 01.09.2019 onwards at your visa interview Information on providers that offer this service worldwide is available on the website of the Federal Foreign Office.
Blocked Account is what in which student or Job Seeker requires to deposit predetermined amount of money, specified by German government in entire world German embassy. Bank holder in advance should provide blocked account statement during visa procedure and also bring along with other documents once reaches to Germany.
As of January 1, 2021, the annual requirement is 10.332 euros and the maximum you can withdraw each month (for students) is 853 euros.
There are a few banks that provide blocked account services in Germany. While some allow you to open an account almost instantly by submitting a form online, others will require paperwork to be submitted physically.
Deutsche Bank if you are in India or Kotak Mahindra Bank.Those both options are valid for visa appearance in India
Opening a blocked account in Germany
If you are already in Germany, you have a few more options. Most banks will offer blocked account services, including:
These all are the service providers which operates the entire procedure of a Blocked account.
As per our research and students, experiences have created orderly suggestable service providers by which you need to open your account in India.
Expatrio and Fintiba take 2- 3 days for account opening.
But on the other hand, Kotak Mahindra Bank takes 21 days or more to open a bank account and deposit the money.
Normally, you will continue to use your blocked account for the duration of your studies, or until you find a job. At this point, your bank may switch you over automatically to a regular current account, or simply close your blocked account.
There are, however, two reasons why you may need to close your blocked account early: if your visa application is rejected, or if you need to leave Germany sooner than expected.
If your visa application is rejected
If you are still in your home country and your visa was rejected, or you withdrew your application, you will need to provide an official confirmation from the German embassy to close your blocked account. A visa rejection letter counts as an official confirmation.
If you need to leave Germany
If you are already in Germany and you want to leave unexpectedly, you will need to obtain the consent of your local Foreigners’ Office (Ausländerbehörde) before your bank can close your blocked account. Note that a de-registration letter (Abmeldebestätigung) is not accepted as official consent.
Once your account is closed, your money will be transferred back to the account it came from.
All banks charge a one-off set up fee for creating a blocked bank account. This is usually between 50 and 150 euros. Some banks also charge fees of around five euros per month to maintain the blocked account.