What happens at the end of the term of my fixed deposit bond?

We will contact you by email two weeks before your bond matures to ask what you would like us to do with the funds.

For online banking customers, we will send you a text message to confirm your account is approaching maturity, and you can log in to provide them from that day onwards.

If you are not registered with us online, we will send you an email with a secure link to your maturity form outlining your options. You will need to provide a few characters of your National Insurance number for security before being able to view the document. Please ensure you check your junk or spam folder in case our email arrives there.

If we do not hold an email address for you, a letter will be sent to you instead.

If we don’t hear from you, we will automatically reinvest your deposit into a seven-day instant access account. Following a maximum of four seven-day renewals (i.e. 28 days following the original maturity date), we will make a full repayment electronically to your nominated bank account.

For maturing ISA accounts, if we don’t hear from you, we will automatically reinvest your ISA deposit in an ISA Call Account. The funds will retain their tax-free status within the ISA scheme while they are held in this Call Account.

The interest payable on these instant access accounts is quite low, currently just 0.10% AER gross. There are options available paying a higher rate of interest so please don’t delay in telling us what you would like to do when your deposit matures.