If you come from a Non-EU country and need to apply for a student visa and/or a residence permit, you will need to provide a proof of financial resources to the authorities.
This means you need to demonstrate that you have sufficient means to cover your living expenses for the first (or subsequent) year of your studies.
<aside> 💡 As of Sep 1st, 2024, students need to provide evidence that they have at least EUR 11,904 at their disposal. This is the estimated cost for one person living in Germany for one year (tuition fees excluded).
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There are several ways to prove your financial resources. The most common solution is a blocked account. Please check with your German diplomatic mission to find out which proof of financing will be accepted.
Once you are in Germany and need to provide your proof of financial resources for your residence permit, your contract from your student job (if applicable) may also be a valid proof of finances in combination with your payslips.
A blocked account (*Sperrkonto*) is a special type of bank account. You can only use the money in the blocked account once you have entered Germany – until then, the account will be blocked. After entering Germany, you will be able to withdraw a maximum of EUR 992 per month. A list of blocked account providers can be found on the German Federal Foreign Office website.
➡️ You will need a German or EU bank account in order to withdraw money from your blocked account. Have a look here to see how to open one.