Savings account maturity guide

Yes! If you choose a fixed rate account, you’ll have 14 calendar days from account opening to add more money. If you choose Easy Access, you can add more money any time.

If you’re opening a Cash ISA, you can add more money from this year’s ISA allowance within 14 calendar days of account opening.

Don’t worry! If you decide to reinvest your money and our interest rates change between the date you completed your maturity instruction 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 in to online banking and select the account you’d like to edit.

We’ll contact you by letter or email 90 days before your account’s maturity date to let you know your maturity is approaching. We’ll send you another reminder 30 days before your account maturity date with instructions on what to do next, and a final reminder 14 days before your account matures.

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

To see the rates available for reinvestment, log in to your online banking account. There, you’ll find the options available if you want to keep saving with Hodge after your account matures.

This is a type of account  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 temporarily hold your money until you decide,  but has a low interest rate. You can get a better interest rate in one of our other accounts or with another provider.

If you don’t tell us what you want to do with your money,  we’ll move it into a maturity holding account. This account  isn’t designed for long term use and has a low interest rate. We recommend submitting your maturity instructions as soon as you can rather than  your money going into this account.

If you don’t want to register for online banking with Hodge, the only option when your account matures is to close it. We can’t accept reinvestment instructions by phone, so online banking is the only way to manage your account. If you’re sure you don’t want to go online or can’t use the system, give us a call to begin the process of closing your account and returning your money.