Frequently Asked Questions
Back to FAQsHiSAVE Fixed Rate Account maturities
What happens when my HiSAVE Fixed Rate Account matures?
If you have not chosen the ‘auto renewal’ option at the time of account opening, we will email and call you before your HiSAVE Fixed Rate Account matures to advise you of your reinvestment options.
You can also call us up to 2 days prior to maturity to let us know what you’d like us to do with your investment.
You can choose to re-invest the savings in your HiSAVE Fixed Rate Account into a new HiSAVE Fixed Rate Account of any term. Alternatively you can ask for the money to be paid to your HiSAVE Savings Account.
If we do not hear from you, we’ll automatically pay your savings into your HiSAVE Savings Account. This will have been set up for you automatically when you opened your HiSAVE Fixed Rate Account.
Once the savings are in your HiSAVE Savings Account you are free to move your money whenever you wish.
If you have chosen the ‘auto renewal’ option at the time of account opening, we will email you before maturity to inform that your account will be automatically renewed on maturity for another term at the then prevailing interest rate.
What is the Loyalty Bonus?
If you have opted for auto renewal of your HiSAVE Fixed Rate Account or if you instruct us to renew your account 45 to 2 days prior to maturity, you are eligible to receive additional interest of 0.05% over the standard rate at time of renewal.
Do I get the Loyalty Bonus on my entire maturity amount?
Yes, in case you have chosen to renew your entire maturity amount, you are eligible to earn the additional interest rate on the entire amount renewed for any of the terms offered.
What happens in case the interest rates decrease after I renew my account?
In case the interest rates decrease anytime up to the maturity date after you have raised a renewal request, you get the benefit of the higher rate available on the day of renewal of your HiSAVE Fixed Rate Account.
In addition to that, you will get to benefit from the Loyalty Bonus of 0.05% over the higher interest rate. Refer to the table below for examples of how you stand to benefit from our Interest rate Guarantee in case you choose to renew for a 1 year term.
What happens in case the interest rates increase after I renew my account?
You still stand to benefit in case the interest rates increase anytime after your renewal up to your maturity date. You will get the benefit of increased interest rate on the day of your maturity.
In addition to that, you will get to benefit from the Loyalty Bonus of 0.05% over the higher interest rate. Refer to the table below for examples of how you stand to benefit from our Interest rate Guarantee in case you choose to renew for a term.
Scenarios |
Sample rate for a 1 year HiSAVE Fixed Rate Account* |
||||||||
Change |
Rate on
day of Renewal |
Days to maturity |
Applicable
Renewal Rate |
||||||
45 |
30 |
15 |
10 |
7 |
Maturity Date |
||||
| Interest rate decreases | ↓ |
2.25% |
2.25% |
2.10% |
2.10% |
2.10% |
2.10% |
2.10% |
2.30% (2.25%+ 0.05% Bonus) |
| Interest rate increases | ↑ |
2.25% |
2.25% |
2.40% |
2.40% |
2.40% |
2.40% |
2.40% |
2.45% (2.40%+ 0.05% Bonus) |
| Interest rate remains the same | ↔ |
2.25% |
2.25% |
2.25% |
2.25% |
2.25% |
2.25% |
2.25% |
2.30% (2.25% + 0.05%Bonus) |
| Interest rate decreases twice | ↓↓ |
2.25% |
2.25% |
2.10% |
2.05% |
2.05% |
2.05% |
2.05% |
2.30% (2.25%+ 0.05% Bonus) |
| Interest rate increases & decreases | ↑↓ |
2.20% |
2.25% |
2.10% |
2.05% |
2.05% |
2.00% |
2.00% |
2.30% (2.25%+ 0.05% Bonus) |
(*) Gross rate
Contact us
Call us on:
080 81 31 41 51
(freephone from UK landline)
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UK: +44 207 942 0788
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