that is 5% interest rate, so doable in a term deposit. But it's still tied up, you can have the 800k in the new BKB term deposit which earns about 6% and you get your 40k in the pocket or leave it in there. Then you can do it yourself. I flew to Thailand 3 months before I was going to move here, started a BKB account and deposited the 800k in a term deposit and 200k in a debit card account also, went back to OZ got all the i's dotted and came back and applied for my O retirement got it and haven't looked back. Built our home and moved in, and I now have it in the new term deposit which is a better interest rate and not variable until the next anniversary.
you only need to keep the 800k in the account if you intend to use that process. If you intend to do the 65k/month then you can remove it immediately. At least that is what I was told and did after it was issued and nothing was said. Mind you I moved about 3 million through my account that year with building, a car and bike etc.
they are proposing a multy entry visa as part of the process. You will have to leave the country after 180 days, return next day or later, pay 10k on re-entry is how I read it.