Do you have a maturing savings account with a fixed rate and term?
A fixed rate and term savings account is one that pays interest at a fixed rate for a set amount of time, for example 0.7% for two years. After this time, the savings account will come to an end.
This means you will no longer receive the interest rate that you have previously been receiving on your investment. When this happens it is called a ‘maturity’. If you have a maturing savings account, read on.
What do I need to do with a maturing savings account?
We will write to you by email or post, 14 days before the maturity date, to let you know what your options are for your maturing savings account. We usually offer to transfer your savings into a new account which is very similar to your existing one, without you needing to take any action.
But you need to be happy that this is the right choice for you and we would encourage you to take a look at all of the accounts available to you from Darlington Building Society and any other bank or building society before deciding. You have 30 days from when your fixed rate is due to mature to make and inform us of your decision. The number of days will be detailed in the letter or email we send you.
Whatever your decision, please make sure you read the relevant terms and conditions carefully, so you understand the type of account you are transferring your savings to.
Is your fixed rate due to finish soon?
If your fixed rate and term savings account is due to finish soon you can find all your maturity document by following the link below. Please make sure you select the link that matches the name of your savings account.
Finally, we may also call you before your account matures to see if you need any help or support. But you don’t need to wait for us to call you, you can get in touch with your local branch at any time. Use our branch finder to get their phone number / email address.
