Coventry BS Centrepoint Fixed ISA maturing 31.05.2026 - options

silvermum

I haven't had an email from Coventry yet, but noticed on my account page that there is now an 'maturity instructions' link which shows what their offers will be for maturing ISAs at the end of this month.

Not the most competitive:

Option A - Fixed ISA (327) 31.08.2027
4.20% Tax free^ p.a./AER*
(Fixed until 31.08.2027)

Option B - Fixed ISA (328) 31.08.2028
4.25% Tax free^ p.a./AER*
(Fixed until 31.08.2028)

Option C - Fixed ISA (329) 31.08.2029
4.30% Tax free^ p.a./AER*
(Fixed until 31.08.2029)

So people with these may want to start thinking about their next move…

J63320

https://forums.moneysavingexpert.com/discussion/comment/81988226#Comment_81988226

I’ve got one of these ISAs and IIRC (I’m not firing up my PC at this time of night just to check the Ts and Cs) it matures into another fixed rate product by default, so it is necessary to do something if you want to hang on for higher rates.

badger09

https://forums.moneysavingexpert.com/discussion/comment/81988226#Comment_81988226

Not in this case. If you ‘sit there’ your ISA will default to another FRISA rather than an easy access one.
I’ll be arranging for mine to be transferred elsewhere.

silvermum

https://forums.moneysavingexpert.com/discussion/comment/81988279#Comment_81988279

Yes, just received the email today and it confirms:

You’ll have until 31 May 2026  to submit your instructions. If you do nothing your account will automatically re-invest into Option A.

Probably time to move it into the highest paying instant access ISA if hoping to move again if (when?) interest rates rise later in the year…

ouraggie

In case anyone on here is in the same situation, I had a fixed rate ISA with Coventry which still had about 8 months to run, but…I remembered it was also a flexible ISA, so I moved it all across to Santander on a new 1 year F/R and also as a little bonus I scored £200 from Santander for doing so.

silvermum

https://forums.moneysavingexpert.com/discussion/comment/81988696#Comment_81988696

Interesting… but I'm pretty sure this one isn't a flexible ISA. Also that Santander FRISA with the bonus offer has now been withdrawn I believe?

2010

If you do nothing, it will automatically move to their 1 yr fix ISA paying 4.20%

You then have 21 days to do something, penalty free.

MACKEM99

https://forums.moneysavingexpert.com/discussion/comment/81988707#Comment_81988707

Yes I called into Santander yesterday lady said the £50+ bonus had ended.

Rich2808

https://forums.moneysavingexpert.com/discussion/comment/81992342#Comment_81992342

Yes the Santander cashback offer ended last weekend.

Halifax and Lloyds still offer cash back for transfers of £25k+. Transfer requests must be received by 31 May.

https://www.lloydsbank.com/isas/cash-isas/cash-isa-offer.html

MACKEM99

Make sure you don't just do it for the cashback if you could get better rates elsewhere.😁

Emily_Joy

I have missed everything and now it is fixed till 2027 😖! I haven't realised one can roll into a fixed account without explicit concern…