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…

QQQQQQQQ_Y

Don't just do something, sit there. My money's on higher interest rates by summer.

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.

QQQQQQQQ_Y

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

In which case I'd walk away, but even rates of 4.5% may look feeble by late summer.

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 Also that Santander FRISA with the bonus offer has now been withdrawn I believe?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.