Using Fixed Deposit For Retirement Extension

[JimMorris]

If you want to use a fixed deposit instead of a normal savings account to meet the 800K financial requirement at CW immigration then what are you expected to show when you do the retirement extension? A bank letter and the original fixed deposit passbook with a photocopy? Or is some kind of 12 month historical statement required as well? And does the passbook need to have the balance updated somehow on the day too?

[mogandave]

11 minutes ago, JimMorris said:

If you want to use a fixed deposit instead of a normal savings account to meet the 800K financial requirement at CW immigration then what are you expected to show when you do the retirement extension? A bank letter and the original fixed deposit passbook with a photocopy? Or is some kind of 12 month historical statement required as well? And does the passbook need to have the balance updated somehow on the day too?

I believe the fixed account works the same way as a savings account. I used fixed and changed to interest bearing savings. 

 

I do not remember if there is a minimum you have to transfer in or out to update the fixed book. 

 

With the savings, I transfer the interest out online in the morning to round it down, and just update the book and get the letter at CW.