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Posted

I have renewed my Retirement extension till 30th July 2021. I understand that I have to retain 400K in the bank for at least 4 months. After that I have to top up a total of 800K. My question is this. For my next year extension, I would like to change bank to renew the next extension. Assuming I put in a total of 800K into a new bank today and leave it untouch for 6 months or more. And I have taken all out from my previous bank. Is this acceptable ? You kind advice is much appreciated. Thanking you all in advance.
 

Posted

Need to retain 800K for 3 months after extension and 400K always as a minimum balance..topping up to 800K 2 months before your next extension.

Posted

You can change banks but you will have to show both bank books when you apply for your next extension.

Just be sure you do a transfer from the old account to the new one so it is shown as being done on the same day.

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