Important Messages
Our branches and contact centre will be closed on Friday 17 May to ensure our staff are able to attend essential training.
We will be open as usual on Saturday 18 May. We apologise for any inconvenience this may cause.
Maturing accounts
Maturity pack
To help you decide what you would like to do with your maturing funds, you'll receive a maturity pack, approximately 14 days before your fixed term account ends.
Maturing account forms can be found in our Forms and Downloads section of this website.
This page explains the process and tells you about the options available to you.
What happens when my account ends?
When your account ends, if we have not received any instructions from you, the account will move into the default product outlined to you when you opened the account.
Please note the rates detailed in the maturity pack are subject to change and are valid until your maturity date.
Important information
What it means to be an existing customer
At Saffron we work hard to provide the most competitive rates for our existing customers. This means once you have held a savings or mortgage account with the Society for at least six months, you are eligible for one of our maturity accounts.
Financial Service Compensation Scheme (FSCS)
Your eligible deposits with Saffron Building Society are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK’s deposit guarantee scheme. Any deposits you hold above the limit are unlikely to be covered.
Terms & Conditions | Things You Need To Know documents
Please ensure that you read these leaflets alongside your Savings Terms and Conditions and Things You Need To Know documents.
What if I change my mind?
If, in the first 14 days of opening your account, you decide that the account isn’t right for you, you can switch to another account or you can have your money back – without penalty or notice. We will close your account once funds are available. Interest will be paid on the balance of your account up to the day before closure.
Sort Code
Our Sort Code is 20-74-21.
Default maturity action
If you choose not to do anything, your account will move into the default product outlined to you when you opened the account.
Delayed maturity instructions
Please note if you wish to open a new fixed term account with your maturing funds and we receive your instructions after your account has ended, you will receive a new maturity date. If you do not give your maturity instructions in time, your options could be limited.
What are your options?
Continue saving with us
If you would like to take out one of the maturity account options which will be listed in your maturity pack, you can do so by completing the maturity renewal form and returning it to us in the prepaid envelope provided, together with your membership document (passbook or certificate).
Alternatively, if you have any queries you can get in touch with us by visiting our Contact us page of this website.
Take no action
If you choose not to do anything, your account balance, plus any accrued interest, will automatically roll into a ‘Default Maturity account’. Full information on this account can be found in your maturity pack.
Withdrawing your funds
If you would prefer to withdraw your funds and close your account, you can do so by completing the maturity renewal form included in the pack or by getting in touch with us - see our Contact us page of this website.
