Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@. Skimlinks & other affiliated links are turned on

    • Hattie625
    • By Hattie625 6th Oct 17, 2:42 PM
    • 744Posts
    • 593Thanks
    Triodos Bank Fixed Rate Regular Saver
    • #1
    • 6th Oct 17, 2:42 PM
    Triodos Bank Fixed Rate Regular Saver 6th Oct 17 at 2:42 PM
    I'm all confused about my Triodos Bank Fixed Rate Regular Saver, which pays 1.75% pa.
    I opened it on 9 November 2016 paying in 500 a month. The 12th instalment was paid in on 1 October 2017 and the capital balance is thus 6000. However six-monthly interest was added on 31 Dec 2016 and 30 June 2017.

    I have studied the T and C's but I am none the wiser. My specific queries:-
    (1) There is no maximum balance specified so I assume that I could add another 500 on 1 November (but I may not want to, see point 4 below).
    (2) The T and C's say that the Fixed Rate RS requires 33 days notice to withdraw. On the maturity date it will convert to a normal (variable rate) RS paying a paltry rate. The normal RS also requires 33 days notice to withdraw.
    (3) I have given online notice to withdraw the current balance (including the interest paid in Dec 16 and June 17) on the first possible date (it's a few days before 9 Nov), when the funds will transfer by FP to my nominated account; however this means that my closing interest (ie the interest earned from 1 July 2017 to 9 November 2017) will be trapped on a 33 day notice to withdraw requirement when the account transfers to a normal RS (with interest rate of 0.10%) on 9 November.
    (4) The terms of the Fixed Rate Regular Saver (the one I'm currently in) state that a deposit of between 25 and 500 is required each month to maintain the account as a FR RS. Do I need to deposit at least 25 in November before the maturity date? If I do, this money will be trapped, as in point (3) above.

    This all seems very strange and unclear. Has anyone had experience of one of these accounts maturing?
Page 1
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

267Posts Today

3,192Users online

Martin's Twitter