While studying abroad is a dream for many of us, lack of finance can become a big hinderance at times. At EduOptions Abroad, we help you manage funds to bring to life your dream of studying in a foreign country. We understand your position and guide you to a certified loan provider who will help you with tuition fees and living expenses for the duration of your program.

Be it education or bank loan, our experts will consult you and help you choose an institution that best suits your requirements. We help counsel students, create the application and prepare the documentation for the loan so you can fulfil your dream of studying in a foreign country at a reasonable cost.

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LOCKED ACCOUNT (SPERRKONTO only for Germany)
A bank account that does not allow the owner to withdraw more than a stipulated amount of money per month is called a Blocked account. A Blocked account is a mandatory requirement for students wishing to study in Germany. Here, students need to open a bank account with Deutsch Bank or Fintiba or Sutor or Kotak Mahindra Bank in India, where the standing instruction is that the student cannot withdraw more than €720 (or as suggested) per month.

It is a Federal state mandate that as part of your student visa application, you are required to provide proof of sufficient funds to cover your living expenses in Germany i.e., “Finanzierungsnachweis” –  show proof of sufficient financial means. Candidates must be able to provide €8,640 (approx. ₹6.5 lakh) per annum, in a Blocked bank account, in Germany as proof of financial wellbeing for at least the first year of education.

It can take between one month to one week to open a Blocked account, depending upon the institution. Typically, Deutsche bank takes up to a month to open the account, while Kotak Mahindra Bank may take a week. Our experts at EduOptions Abroad will assist you and guide you to the right institution, and person, based on your specific requirements, to ensure no time is wasted while opening a Blocked account.

Once the account is opened, the bank will send a confirmation mail with the details to the German Embassy/Consulate. This is essential for the student to get a German National Visa.

Contact us for our counselors to get in touch with you and guide you to a university that is best suited for you.