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What to do when your fixed rate bond matures

Find out what your options are when your fixed rate Nationwide bond matures and how to let us know your decision.

What happens when your bond matures?

Here is a step-by-step guide to the bond maturity process.

You will have a new maturity account

Your bond will mature into an instant access maturity account. If you are registered for online banking, you will be able to see this in your banking app or internet bank.

Your new account will have a lower interest rate, but you can withdraw money from it anytime.

You cannot reinvest or close a Fixed Rate Online Bond or Fixed Rate Branch Bond early. It must first mature into an instant access maturity account.

We will pay you interest

We will pay the interest you have earned into your new instant access maturity account. You do not need to request it.

The interest is calculated daily on the money that you paid into your bond during the funding window.

We will tell you the total amount you will have in your account when it matures in your maturity pack or email.

We will explain your options

Before your bond matures, you will either receive:

  • a maturity email (if you have a Fixed Rate Online Bond)
  • a maturity pack in the post (if you have a Fixed Rate Branch Bond)

You will then have 2 options to choose between:

  1. reinvest in another Fixed Rate Online Bond or Fixed Rate Branch Bond
  2. close your bond and withdraw your money

Your 2 bond maturity options explained

Think carefully about your savings goals and what is best for you before letting us know your decision.

Option 1: Reinvest in the same type of bond

If you have a Fixed Rate Online Bond, you can reinvest in another Fixed Rate Online Bond.

Similarly, if you have a Fixed Rate Branch Bond, you can reinvest in another Fixed Rate Branch Bond.

If there are different term bonds available (for example, 1 year and 2 year bonds), you can choose which term to reinvest into.

What interest rate will I get?

You can check our latest interest rates and terms on our Fixed Rate Online Bond and Fixed Rate Branch Bond pages.

As part of our Savings Promises, if you tell us before your maturity date that you want to take out a new bond with us and the interest rate for the bond changes, we will give you the better rate.

What happens when you reinvest?

When you reinvest, you can:

  • withdraw some money
  • top up your balance
  • just move your money to your new bond

Option 2: Close your bond and withdraw your money

You can choose to close your bond and withdraw your money.

Depending on your bond, this will either need to be done in branch, through the post or online.

We would love to have you choose another Nationwide savings account for your money. You will need to open a new savings account with us in your name before transferring the balance from your maturity account into it. You will also need to close your maturity account.

Compare our savings accounts

How to compare your options

Before deciding to reinvest in the same type of bond, you should compare the different options available to you. You might be able to earn more with a different savings account. You can compare our range of savings accounts to make sure you get the best rate and account for you.

We sometimes offer savings accounts that are exclusively for our members. These are usually available for a limited time.

You can also withdraw your money to another Nationwide account in your name that accepts payments or to another provider.

Frequently asked questions

Here we will answer some common, quick-fire questions about savings bond maturity.

Tell us your maturity decision

Let us know what you want to do with your matured bond.