Bond maturities

If you do not provide instructions at maturity

If we do not receive instructions from you when your account matures, it will automatically change to one of the following accounts:

For all Fixed Rate Bonds opened before 6 September 2023 (except Fixed Rate ISAs)

Your account will change to an Easy Access Bank Base Rate Tracker. If you decide to leave your money in this account, the terms and conditions are as follows:

• The minimum balance is £5,000.
• The maximum balance is £300,000.
• The interest rate will be variable and track 0.50% below the Bank of England’s Base Rate. The rate at which we track the Bank of England Base Rate will be reviewed annually with any changes applied from 1 March. The interest rate will never reduce below 0.01%.
• Interest is paid on 1 December each year.
• Only cheque withdrawals or transfers are allowed.

For all Fixed Rate Bonds opened from 6 September 2023 onwards (except Fixed Rate ISAs)

Your account will change to an Easy Access account. If you decide to leave your money in this account, the terms and conditions are as follows:

• The minimum balance is £1.
• The maximum balance is £300,000.
• The interest rate will be variable. Please see our Easy Access account page for the current rate.
• Interest is paid on 1 December each year.
• Withdrawals can be made without any notice or penalty. The cash withdrawal limit is £500 each day.

For Fixed Rate ISAs

Your account will change to a 7 Day Notice Cash ISA. If you decide to leave your money in this account, the terms and conditions are as follows:

• The minimum balance is £500.
• The interest rate will be variable. See our savings rates page for the current rate.
• Interest is paid on 5 April each year.
• Withdrawals can be made without penalty as long as you give 7 days’ notice. If you need immediate access to your money, you can still make a withdrawal but you will lose 7 days’ interest on the amount you withdraw.