Whether you’d like to continue saving all your money with us to make use of our fixed rates to guarantee a return on your savings; lock some away for a rainy day but access a portion now; or take all your hard-earned savings out to enjoy, we’ve outlined your options below.

Our promise to you

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Loyalty

We’re grateful for your loyalty and we’ll never offer you a lower rate than we’d offer new customers

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Support when you need it

Find information and resources on our website to guide you through the online account maturity process, and if you need more support, we’re here when you need to speak to us.

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Simple and secure account maturity

Online banking offers a quick and easy way to tell us your maturity instructions, with enhanced security and two factor authentication to keep your money safe.

Your options

If your account is due to mature, you’ll need to decide what you’d like to do with your money. You can choose to keep saving some or all of your money with us, or withdraw the balance.

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    Reinvesting your money

    It’s quick and simple to reinvest with us. You can let us know if you’d like to reinvest all, or some, of your money into a new account in just a few simple steps. You’ll be able to view all the accounts we offer, as well as the current rates available to you, by logging into your online banking portal.

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    Withdrawing your balance

    If you’d like to withdraw your balance, please let us know via your online banking portal no later than the last working day before your maturity date.

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    If we don't hear from you

    If we don’t hear from you by this date, we’ll temporarily move your balance into a holding account while you decide what to do. This account has a low interest rate and is only meant to be used in the short term while you decide what to do next.

How to submit your maturity instructions

Our process is slightly different depending on whether you opened and manage your account with online banking, or whether you set up your account over the phone, by email or letter. Find out more below.

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If you're registered online

If you’ve already set up online banking, you can submit your maturity instructions quickly and easily online. Simply log in, select your account and follow the steps to submit your maturity instructions.

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If you're not registered online

We listened to customer feedback and made the move to being an online only bank, which means you’ll need to submit your maturity instructions online if you want to keep saving with us. Find out more here.

Learn more

Account maturity FAQs

Find out what to do when your account matures.

Yes, once your new account is open you’ll have 14 calendar days to add more money. If you open a Cash ISA, the amount you add will need to be within your personal allowance for this year.

To give you peace of mind, if you decide to reinvest your money and our interest rates change between the date we contact you and the date your account matures, we’ll automatically give you the higher of the two rates. You don’t have to do anything – we’ll take care of this.

If you’ve submitted maturity instructions online, you can still change them up until the last working day before your maturity date. To do this, log into online banking and select the account you’d like to edit.

We’ll contact you by letter or email 90 days before your account maturity date to let you know your maturity is approaching. We’ll contact you again 30 days before your account maturity date to give you instructions on what to do next, and you’ll get another reminder 14 days before your maturity date.

Remember, you need to submit your maturity instructions online or your money will be placed into a maturity holding account.

You can log in to online banking to see the rates available to you if you want to keep saving with Hodge after your account reaches maturity.

This is a type of account that is opened when your fixed rate bond or Cash ISA reaches maturity, if you haven’t told us what you want to do with your money next. Its purpose is to act as a holding account, so the interest rate is low. You could be getting a better interest rate in one of our other accounts or with another provider.

When your account matures, if you haven’t told us your maturity instructions, we’ll move your money into a maturity holding account. This isn’t designed for long term use and has a low interest rate. We recommend you submit maturity instructions as soon as you can rather than leaving your money in this account.

View all FAQs
View all FAQs