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Old 25-07-2019, 10:01 AM   #5670
Jyvonchi
Junior Member
 
Join Date: Mar 2019
Posts: 66
Ok, so once we hit 150k, we can withdraw the interest amount every month, so that the min balance of previous month and current month is the same, and maintaining the step-up amount.

But the interest seems to be credited on the very last banking day of each month. So there's maybe only 1 day to do the withdrawal?

What happens if we forget to withdraw for one month, and the balance therefore goes up to say 150300? Lowest balance for the month is still 150k, so can still withdraw until it reaches 150k in the next month right?

Then, what happens if we forget to withdraw for more than one month, and the balance goes up to say 151k? Excess interest beyond 150k is low, so can can we bring it down to 150k without losing the step-ups?
You have 1 month to withdraw before the next interests credit in.

If no withdrawal after the next interests credited in, the new lowest balance will be $150k + the interest amount that is not withdrawn.

You can't bring it back to $150k without affecting the counter, which will drop to 6 if you do.

It a must to withdraw the interest, so make a reminder alarm.

Last edited by Jyvonchi; 25-07-2019 at 12:31 PM..
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