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Savings or current account for retirement visa deposit


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Term deposits are also acceptable, as long as they are not locked in. In the passbook, look for a statement such as "No interest will be paid on funds withdrawn before the maturity date." This indicates that funds can be withdrawn at any time.

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Whatever term account your bank is hustling at the moment (and it may be perfectly fine), ask them if it qualifies for the annual Immigration letter.  Most banks will know what you mean (i.e., that the particular account will qualify for the bank funds basis for a retirement extension). 

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