ICICI Bank Germany, a part of ICICI Bank, has announced the launch of a digital and instant Blocked Account* for students aspiring to study in Germany.
According to a statement, “The new ‘ICICI Bank Germany Student Blocked Account’ enables students to deposit the required amount with the Bank and get the BCC. Students can open this account online from the comfort of their homes in India before their Visa applications, without visiting an ICICI Bank branch. This account offers students a complimentary Current Account, that they can use in Germany. It also comes with a VISA debit card which can be used anywhere in the world. The debit card will be delivered to the students at their address in India before they leave for Germany.”
The statement said, “ICICI Bank Germany is the first bank to offer the dual advantage of a completely digital ‘Blocked Account’ and a complimentary Current Account to students. It is a marked improvement from the existing industry practice where students typically open these accounts with two different banking entities and can open the Current Account only after reaching Germany. The Current Account is equivalent to a savings account in India, and can be used by students for their daily banking requirements in Germany.”
Speaking about the launch, Mr. Sriram H. Iyer, Head- International Banking Group, ICICI Bank, said, “At ICICI Bank, we recognize the unique banking requirements of students, and we always endeavor to provide them. ICICI Bank Germany has been servicing the Indian diaspora for more than a decade. ‘ICICI Bank Germany Student Blocked Account’ is the first account that offers the dual advantage of a ‘Blocked Account’ along with a complimentary Current Account to the Indian students. It also offers a VISA debit card which can be used worldwide.”
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.