ICICI Bank Germany, a part of ICICI Bank, launched a digital and instant ‘Blocked Account’ named ‘ICICI Bank Germany Student Blocked Account’ for the Indian students who are aspiring to study in Germany.
- ICICI Bank Germany is the 1st bank to offer the dual advantage of a ‘Blocked Account’ along with a complimentary Current Account (within the single account) to the Indian students.
- Along with the Blocked Account, the bank also offers a complimentary Current Account, that can be used in Germany and a VISA debit card that could be used worldwide.
What is a Blocked Account?
i.The students who are aspiring to study in Germany need to have this account with a required amount to get a Balance Confirmation Certificate (BCC), a mandatory requirement for a Student Visa in Germany.
- The account will act as a financial reference for the students.
iii.The account could be offered only by the banks that are authorized by the German Federal Foreign Office.
iv.The objective to deposit money in the blocked account is to facilitate the living expenses in the country and also for completing their education.
v.The account will be blocked initially until the account holder arrives in Germany. ICICI Bank will not pay interest on the blocked account and the amount to be transferred depends on the duration of the course/stay in Germany.
Key Features of ‘ICICI Bank Germany Student Blocked Account’:
i.Digital Process: ICICI Bank Germany enables the students to open the Blocked account online (complete digital) in India before their Visa applications.
- The process of opening a ‘Blocked Account’ is available 24X7.
ii.The additional Current Account could be used by the students as a local bank account in Germany (similar to a savings account in India) to meet their daily banking requirements.
Recent Related News:
On the eve of National Doctor’s Day, on July 01, 2021, ICICI Bank launched ‘Salute Doctors’, a digital and instant banking solution that is designed exclusively for medical doctors.
About ICICI Bank Germany:
It is a subsidiary of ICICI UK PLC
Establishment – 2008
Headquarters – Frankfurt, Germany