Sash it is just a waste of money having money sitting in a bank, you are better to buy shares in the bank, they yield more, get CG, count as assets, are liquid and the income improves serviceability, diversifies.
Say that to all the people who got crucified in the GFC . I can introduce you to few who lost much of their retirement nest egg , had to either go back to work of down size their really nice ppor's to be able to afford retirement.
Cliff