What it means to be an existing customer
At Saffron we work hard to provide the most competitive rates for our existing members. 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 cleared. Interest will be paid on the balance of your account up to the day before closure.
Please be aware that our sort code changed in January 2018 to 20-74-21 and this new sort code should be used when paying in funds.
Default Maturity Action
If you choose not to do anything, your account balance plus any accrued interest will automatically roll into your default product.
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 matured you will receive a new maturity date. If you fail to 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 personal maturity pack you can do so by completing the maturity renewal form included in the pack your receive and returning to us in the prepaid envelope provided, together with your membership document (passbook or certificate).
Alternatively if you have any queries you can speak to someone on 0800 072 1100 or visit your local branch to look at your options.
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. Please ensure you have enclosed any membership documents and your instructions on your maturity renewal form. Without these we will be unable to carry out your request.