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Maturing savings accounts

When a fixed term savings account comes to an end, you'll no longer receive the interest rate you've previously been receiving. This is called 'maturity'. We'll contact you around 2 weeks before your account matures with all the details. Once you've received your letter or email, you'll be able to give us your maturity instructions.

Your maturity options

Do nothing

If you don't give us any instructions we'll transfer your maturing account into another account automatically.

Choose a new product

You can choose a different product from our savings range to transfer your money to when the account matures.

Withdraw your money

If you would prefer to, you can withdraw some of your money, or withdraw all of it and close your account.

Frequently asked questions

If you don't give us any instructions before your account matures, we'll transfer your maturing account automatically, usually into either a one year fixed rate product or an easy access variable rate product, depending on the terms and conditions of the account which is maturing.

We'll send you a letter or email around 2 weeks before your account matures with details of the account your money will mature into.

If you're thinking about withdrawing money from your maturing ISA or transferring into another provider, visit our ISA transfer page so we can help you make sure your ISA keeps its tax-free status.

If you're planning to transfer your ISA to another provider, you'll need to start this process by contacting your new provider. They'll start the transfer for you, and you will not need to notify us.

If you would like to give your maturity instructions online you need to be registered for Skipton Online.

As part of the registration process you'll be asked to set up an extra later of security, this will allow you to carry out the full range of maturity instructions. For security purposes this will be sent to you in the post, so please allow up to 5 days to receive it.

Remember that you won't be able to give us your maturity instructions until after you've received your maturity letter or email.

Financial Services Compensation Scheme

Your eligible deposits with Skipton Building Society are protected up to a total of £85,000 by the Financial Services Compensation Scheme (FSCS), the UK's deposit guarantee scheme.

Learn more about the FSCS

FSCS - Protecting Your Money
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