Idea

What Happens When a Fixed Term Deposit Matures

by

iFAST Global Bank

21 Apr 2026 · visibility 2645 views

A Fixed Term Deposit has a defined end date, known as the maturity date. This is when your agreed savings period finishes. 

Understanding what happens at this point can help you plan your next steps with confidence. 


What happens at maturity? 

When your Fixed Term Deposit matures: 

  • Your initial deposit (principal) is returned 
  • Any interest earned over the term is added 
  • The total amount is made available in your account 
  • You can decide on whether to auto-renew your Maturity instruction when placing your deposit. 
- No Auto-Renewal Selected: If you choose NOT to enable auto-renewal deposition your Fixed Term Deposit, the principal amount, along with the accrued interest, will be returned to the respective currency of your Multi-Currency Current Account at the maturity date. 
- Auto-Renewal Selected: If you opt for auto-renewal, at the maturity date, the principal amount and interest (if applicable) will be automatically renewed, unless you inform us that you want to opt out. Your new Fixed Term Deposit will be at the prevailing interest rate at that time of renewal. 

 

This means your funds are no longer locked and can be accessed or reassigned. 


What options are typically available? 

After maturity, you can usually choose to: 

1. Reinvest your funds 

Place your money into a new Fixed Term Deposit, potentially with a different tenor or updated interest rate. 

2. Keep your funds accessible 

Move your money into a more flexible account if you prefer easier access. 

3. Withdraw your funds 

Use your money for spending, transfers, or other financial needs. 

Things to consider 

  • Interest rates may change compared to when you first placed your deposit 
  • Your financial goals may have evolved since the start of the term 
  • You may want to balance accessibility and returns differently 


Why it’s important to plan ahead 

Knowing your maturity date helps you avoid last-minute decisions and gives you time to consider your options carefully. 

By understanding how Fixed Term Deposits work at maturity, you can make informed choices that align with your financial goals. 


Disclaimer: iFAST Global Bank Fixed Term Deposits have a fixed term. Early withdrawal is generally not permitted and may result in loss of accrued interest. A 14-day cooling-off period applies. T&Cs apply.  

Tags

Savings

iFAST Global Bank is a member of the Financial Services Compensation Scheme (FSCS).

iFAST Global Bank is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Our Financial Services Register number is 716167. We are registered in England and Wales, our company number is 4797759.

Please note that the provided details serve as general information and should not be considered as financial advice or endorsements. We strongly advise customers to diligently carry out their own research and consider seeking expert guidance for tailored financial choices.