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Fixed rate ISA maturity options

Find out what your options are when your ISA matures and how to let us know your decision.

What are your maturity options?

You’ll have a few options when your fixed rate ISA matures, including:

  • reinvesting in a new Fixed Rate Cash ISA
  • closing your ISA, or
  • transferring your money to another ISA manager.

If you don't tell us your decision, your fixed rate ISA will mature into an instant access cash ISA maturity account. You can find details of this account in your maturity pack.

You could receive a higher rate by reinvesting in a new ISA.

Option 1: Reinvesting in a new Fixed Rate Cash ISA

You can choose to reinvest your money into a new Fixed Rate Cash ISA with us.

When you apply, you can also choose to withdraw some of your money or top up your balance.

Our Fixed Rate Cash ISA interest rate

As part of our Savings Promises, if you tell us before your maturity date that you want to take out another Fixed Rate Cash ISA and our interest rate changes, we'll give you the better rate.

Find out the latest interest rate of our Fixed Rate Cash ISA

Differences between Fixed Rate ISAs and Fixed Rate Cash ISAs

Our Fixed Rate ISAs are no longer available. Instead, we now offer Fixed Rate Cash ISAs. They are both cash ISAs, but there are a few key differences between Fixed Rate ISAs and Fixed Rate Cash ISAs to be aware of.

Table comparing Fixed Rate Cash ISA with previously available Fixed Rate ISA.
Fixed Rate ISAs Fixed Rate Cash ISAs
Interest Interest was paid annually or monthly. Interest could be paid into another account. Interest is paid annually. It can only be paid into the ISA, not into another account.
Welcome letter When you reinvested into a new Fixed Rate ISA, you would have received a welcome letter. You won't receive a welcome letter when you reinvest. We'll send you a closure letter for your old ISA. This will show the account number for your new ISA.
Certificate You would have received an ISA certificate with your welcome letter. You won't receive an ISA certificate. A statement will be available after the first month.
Statements Statements were only provided at closure.

Statements will be provided at opening, closure and when interest is added. You can view your statements through the Internet Bank, or you can ask for one in branch.

Your first statement will be available after the first month and will show your opening balance. If you want to check your opening balance before you receive your first statement you can do so through the Internet Bank, Banking app, or in branch.
Account number When you reinvested into a new Fixed Rate ISA, your account number would have stayed the same. You will get a new account number and sort code when you first reinvest into a Fixed Rate Cash ISA.

Option 2: Closing your fixed rate ISA

Note:

If you close your fixed rate ISA and withdraw your money, you'll lose your tax-efficient benefits.

You can also choose to close your fixed rate ISA and withdraw your money.

You can ask to withdraw your money by:

  • cheque, or
  • transferring it to your Nationwide current or savings account, as long as it accepts incoming payments.

To receive your money by cheque, you'll need to send us your maturity instruction form in the post. Or go into your local branch.

Option 3: Transfer your money to another ISA manager

You'll need to contact your new ISA manager to switch your ISA. They'll have to arrange a transfer for you.

Don’t just withdraw your money from your ISA if you want to transfer it. Your money will lose its tax-free status if you do.

More about transferring your ISA to another manager

Receiving your maturity pack

We’ll post you a maturity pack about 3 weeks before your maturity date. In this pack, you’ll find:

  • the maturity date of your ISA
  • the expected maturity value
  • your maturity instruction options
  • a maturity form to submit your instructions to us.

If your fixed rate ISA has matured

If you had a fixed rate ISA it will have matured into an instant access cash ISA maturity account. You can still reinvest into a new Fixed Rate Cash ISA after your account has matured. You'll only be able to reinvest online in the 30 days after your maturity date. Follow the instructions on this page to do so. Once 30 days have passed, you'll need to send us your maturity form in the post if you want to reinvest into a new Fixed Rate Cash ISA. Or you can choose to close your account and withdraw your money.

Choosing your maturity option

There are a few ways you can let us know what you decide.

How would you prefer to tell us your decision?

Choose the option that suits you then follow the instructions.

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