When your current Fixed Rate Bond matures, it will be automatically reinvested into a new Fixed Rate Bond, not a Fixed Term Savings Account.
Your Fixed Rate Bond will continue to automatically reinvest at each maturity into another Fixed Rate Bond until you choose to opt out of the reinvestment, or unless we notify you otherwise.
However, at each maturity you will have the option to close your Fixed Rate Bond and open a new Fixed Term Savings Account in its place.
More information will be made available to you in your Reinvestment Pack which you will receive prior to your investment maturity date.