Your savings maturity options

You can choose to withdraw your savings on maturity of the fixed-term savings account. This can be done either by transfer to your nominated account or by cheque.

Before your maturity date, we'll contact you with information about:

• you maturity date
• your maturity options
• how to give us your instructions
• what happens if you do nothing

You can choose to reinvest into a new account, move it to an existing account, transfer it to your nominated account, or withdraw some or all of your balance. If you choose to do nothing, your savings will move into the maturity account detailed in your letter or email.

If we don't receive your maturity instructions before your account matures, we'll automatically transfer your balance into the maturity account detailed in your maturity letter or email.

Your money will remain in your maturity account until you tell us what you'd like to do with it.

We'll also send you reminder, 6 months post maturity if all or part of your balance is still in a maturity account - as a prompt to review your options and make sure you're getting the most out of your savings.

You can change your maturity instructions up until the day before your maturity date. After this date, changes may not be possible.

This depends on the option you choose

If you reinvest your savings into another account with us, your funds will normally transfer automatically on maturity.

If you ask us to transfer funds to your nominated bank account, payments are made shortly after your maturity date.

If you request a cheque, please allow a week to receive this in the post.

You can provide your maturity instructions in a number of ways, including:

• online through your account
• by phone
• in branch
• by post using a maturity form

The options available to you will be explained in your maturity communcation.

Yes, your interest rate may change once your fixed-term account matures.

If your savings move into a maturity account or a new savings product, the interest rate for that account will apply. 

Details of the maturity account interest rate will we provided in the maturity communications. You can view new savings account rates and details here.