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.
