Fixed Term Deposits & Fixed Rate Cash ISA Maturity
Everything you need to know about your account reaching maturity.
What is Maturity?
Maturity is the date when your Fixed Term Deposit (FTD) or Fixed Rate Cash ISA (ISA) comes to the end of its agreed term.
UBL UK will write to you at least 14 days prior to your maturity date to ask for your instructions with respect to what you would like to do with your funds.
How Does the Maturity Process Work?
- We contact you at least 14 days before your maturity date.
- You receive details of your options.
- You provide your maturity instructions.
- Your funds are handled according to your choice.
How Will We Contact You?
If the Bank holds a registered email address for you, you will receive email notification from our official email address onlinesavings@ubluk.com ‘UBL UK Online Savings’.
If we do not hold a registered email address, we will send a letter via post to your registered address.
Important: Please ensure you check all inbox folders including your spam and junk mail near to the time of your deposit maturing and only open emails are from our official UBL UK address mentioned above.
What Does the Maturity Email include?
The maturity instructions email will include the following:
- Your deal reference number
- Your maturity date
- Your available options
- Instructions on how to respond to us
- A PDF attachment containing our latest interest rates
It will come from an official UBL UK address which is onlinesavings@ubluk.com ‘UBL UK Online Savings’.
What Do You Need to Do?
Before the maturity of your Fixed Term Deposit or Fixed Rate Cash ISA you must:
- Review your available options.
- Decide what you want to do with your funds.
- Submit your instructions.
You can provide your maturity instructions using one of the methods mentioned below:
Secure Message: Via our Digital Banking Platform
Email: Reply to the maturity instructions email you receive or send an email to onlinesavings@ubluk.com from your registered email address with your instructions
Post: You can send a letter to the following address: UBL UK, 2 Brook Street, London, W1S 1BQ.
Important: Please note your deposit will automatically be reinvested into the same product into a similar term and interest frequency, if we do not hear from you ahead of the maturity date or if we cannot comply with your instructions.
Available Maturity Options
1. Reinvest Your Funds into the same product or into another UBL UK product
- All the principal with interest earned, or
- The principal amount only, or
- A specific amount
If you choose to reinvest in another UBL UK product, you will need to apply for your chosen product by completing an application through our Digital Banking Platform or post. We will apply the rate which is valid on the date of maturity of your deposit.
Click here to see the current interest rates and terms available.
2. Withdraw Your Money
If you would like to withdraw your money at maturity, we will make the transfer to your nominated account that was provided to us at the time of the account opening. If you did not provide us with nominated account details at account opening, please contact us using one of the ‘Ways To Get In Touch’ methods mentioned below.
3. Transfer Your Fixed Rate Cash ISA (ISA accounts only)
If you wish to transfer your ISA to a different ISA provider, you will need to instruct your new ISA provider to initiate a transfer request to us. Once we have received this request, we will transfer the funds to your new ISA provider on maturity.
Upon maturity, your ISA may automatically roll over for the same term as originally opened to ensure that your funds maintains its tax free status. The interest rate applicable to the rolled over ISA account will be the current interest rate offered by the Bank. Rest assured, we will proceed with your request once we have received the transfer-out instructions from your new ISA Provider. Please note, any transfer requests received after the 14-day cooling period will be subject to an early withdrawal penalty.
14-Day Cooling Period
If you change your mind about the reinvestment or renewal of your deposit, you can take out your money within the first 14 days. Please note that, you will not be entitled to any accrued interest for the first 14 days during which the money was invested with UBL UK.
Any withdrawals after the 14-day cooling period may be subject to early withdrawal charges, which may affect your original invested amount. Please visit our Personal Banking Terms and Conditions and product specific ISA terms and conditions for further details, available at www.ubluk.com.
Need Help?
If you’re unsure what to do, we’re here to help.
Ways To Get In Touch:
If you have any queries regarding the information above, please do not hesitate to get in touch using one of the methods listed below.
Telephone: You can contact our Customer Services Team on +44 (0) 121 753 6000 Monday to Friday from 9:15 am to 5:15 pm (excluding Bank Holidays).
Branch: You can visit our London branch, Monday to Friday, 9:30 am to 4 pm (Excluding Bank Holidays).
Secure Message: Once you have completed registration for Internet or Mobile Banking, you can send us a secure message online.
Email: You can send an email to onlinesavings@ubluk.com
Post: You can send a letter to the following address: UBL UK, 2 Brook Street, London, W1S 1BQ.