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Yes...so long it is an account you can withdraw whenever you want (for most fixed accounts with this feature, you lose all accrued interest if you withdraw before the maturity date).  I've handled my annual extension with the 800k in a fixed (anywhere from 11-22 months) account at SCB for the last 8-10 years.

If however you mean a fixed account like a fixed-term US cd where you can't get your funds until the end of the term, that will not qualify.

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