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2 mins Read | 10 Months Ago

What do you need to know to open a Blocked Account?

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What do you need to know to open a Blocked Account?

Are you dreaming of starting a new chapter of your life in Germany? If so, there are certain requirements you need to fulfil and one of them is opening a Blocked Account. The Blocked Account serves as proof of funds and is a mandatory prerequisite to apply for a German Visa.

ICICI Bank offers you the convenience of opening your Blocked Account online in just a few minutes. The ICICI Bank Germany Blocked Account is officially approved by the German Federal Foreign Office and we ensure a hassle-free application process.

Before you proceed with opening a Blocked Account, here are a few key points to keep in mind:

1. Eligibility: Blocked accounts are typically required for international students and non-EU citizens who intend to study or work in Germany. It is crucial to ensure that you meet the eligibility criteria for a Blocked Account before initiating the application process.

2. Documentation: While applying for an ICICI Bank Germany Blocked Account online, you will have to provide documents such as a copy of your passport pages containing your photo, passport number, date of birth, address and additional address proof with current address in case your address is different from the one given in your passport. Make sure to upload these documents as a single document while applying.

3. Minimum Balance: The amount to be transferred into your ICICI Bank Germany Blocked Account depends on the duration of your stay in Germany as defined by German Visa regulations. Throughout the application process, you will be informed about the total amount that needs to be transferred and the monthly amount to be credited to your Current Account. From Jan 01, 2023, the minimum amount of money in the Blocked Account that is required for a German student visa is EUR 11,208 per year or EUR 934 per month. There is no minimum balance requirement for the Current Account.

4. Fees and Charges: You only need to pay an initial fee of EUR 150 at the time of account opening. This must be transferred while funding your Blocked Account to receive the Balance Confirmation Certificate which needs to be submitted at the time of Visa application. There are no additional monthly or annual account management fees or charges.

5.Duration of Blocked Account: At ICICI Bank Germany, you have the flexibility to open a Blocked Account for a period of 3 months to 1 year. The funds will be blocked for the respective period and a monthly pay out will be transferred from your Blocked Account to your Current Account. You will receive a complimentary Current Account along with your Blocked Account allowing you to transfer any additional amount that suits your needs.

ICICI Bank Germany offers a fully digital Blocked Account opening process that can be completed in just four simple steps. Moreover, we provide a range of value added products like Education Loan at preferential rates, Money2World remittance service, Multi-currency Forex Card, German Health Insurance and much more to ensure your smooth transition to Germany.

Click Here to open your ICICI Bank Germany Blocked Account today and embark on your new journey!

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