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Existing Customers - Savings

Maturity options for your Non Personal Fixed Term Deposit Account

When your 1, 3 or 5 Year Non Personal Fixed Term Deposit Account matures, there are a number of options for you to decide what you’d like to do with the proceeds. If you’d like to withdraw some or all of the balance on the maturity date, call us on 0345 845 0829 and we can arrange this for you.

If you’re not sure what you’d like to do with the proceeds and need more time to decide, on the maturity date we’ll automatically transfer the balance into the Scottish Widows Bank Maturity Base Rate Tracker for non personal funds. This account allows quick and easy access to your money and pays interest at the Bank of England base rate. You can view the terms and conditions for this account here.

If your funds are held under trust, or on behalf of clients, please contact us on 0345 845 0829.

If your money is not held under trust, or on behalf of clients, Scottish Widows Bank has a number of other accounts where you could transfer the proceeds of your maturing Fixed Term Deposit. We’ve detailed these options and how to apply below.

We’ll write to you at least 30 days before the maturity date.

If your organisation is a charity:

Charity Deposit Account

This option offers a simple savings account for charities that gives you easy access to your money:

  • Transfer money to and from your charity’s main (nominated) current account as often as you like
  • Operate the account online, by phone or by post
  • This account is available to charities only

Note: While we can accept your instruction to open a new account before the maturity date, your funds can’t be transferred until after the maturity date, without incurring any applicable penalty.

If your organisation is a club or association:

Club & Association Deposit Account

This option offers a simple savings account for clubs and associations that gives you easy access to your money:

  • Transfer money to and from your club or associations’s main (nominated) current account as often as you like
  • Operate the account online, by phone or by post
  • This account is available to clubs and associations only

Note: While we can accept your instruction to open a new account before the maturity date, your funds can’t be transferred until after the maturity date, without incurring any applicable penalty.

If your organisation is a pension fund:

Pension Fund Deposit Account

This option offers a simple savings account for pension funds that gives you easy access to your money:

  • Transfer money to and from your pension fund’s main (nominated) current account as often as you like
  • Operate the account online, by phone or by post
  • This account is available to pension funds only

Note: While we can accept your instruction to open a new account before the maturity date, your funds can’t be transferred until after the maturity date, without incurring any applicable penalty.