Windfall Bond

Our 35 day notice account offers 2.75% annual interest (Gross/AER) and entry into a monthly free prize draw with a chance to win between £100 and £50,000.

Your savings are protected.  FSCS - Logo

   

The Windfall Bond is a unique variable rate savings account, quite unlike any other. With a deposit of exactly £10,000, you can earn interest and entry into a monthly free prize draw for the chance to win up to £50,000. Apply online today.

Annual interest (AER gross) Account rate type Minimum opening amount Additional information Monthly interest option? Withdrawal limits Available to new customers?
2.75%
  • Variable
 £10,000 Open online, by post or in branch. No No withdrawals. Closure after 35 days' notice. Yes

Key features

View summary box
  • Available to new and existing customers
  • Participate in the monthly free draw after a qualifying period
  • Save exactly £10,000 per bond held
  • Variable interest rate which tracks and pays the Bank of England Bank Rate minus 1.00% (subject to minimum 0.00%)
  • Interest rate changes take effect from the 1st of the month following an announcement of a Bank of England Bank Rate change
  • Interest paid annually on 31 July by transfer to your bank account
  • No additions or partial withdrawals available
  • Closure available without an access charge after 35 days’ notice and will paid by transfer to your bank account  
  • Once given, notice of closure cannot be cancelled or amended
  • This account can only be operated by people aged 18 and over
  • This account can be operated by an Attorneys, Deputies or Third Parties (see below for more details).

The information provided below is a summary of the key features of the account and is not intended to be a substitute for reading the Product Features leaflet and General Conditions for our Savings Accounts booklet.

Apply online Account info downloads Frequently asked questions

Already an existing customer registered to our Online Service? You can apply using our Online Service

Account summary box

Account name

Windfall Bond

What is the interest rate?

Rates effective from 1 January 2026Gross/AER1
£10,0002.75%
  • Interest is calculated daily and paid annually on 31 July
  • The interest rate currently tracks and pays the Bank of England Bank Rate minus 1.00%. To access and monitor the Bank of England Bank Rate visit bankofengland.co.uk
  • Minimum rate payable is 0.00%.

Can the Family Building Society change the interest rate?

  • Yes, interest rate changes take effect from the 1st of the month following an announcement of a Bank of England Bank Rate change. We’ll give you notice of an interest rate change by letter or email as well as publishing this on our website
  • We can review our linkage to the Bank of England Bank Rate at any time and if any changes are made, we will provide you with at least 14 days notice, plus the account’s normal notice period of 35 days.

What would the estimated balance be?

Opening balance
Projected balance (Gross)
£10,000
£10,000*
*annual interest of £275.00 is paid away to a pre-nominated account in your name
  • This projection is based on the interest rate on 1 January 2026 and does not take into account any fluctuations in the reference interest rate over a 12 month period. Projected balance is at the end of 12 months
  • All projections are provided for illustrative purposes only and do not take into account individual circumstances
  • Actual interest may depend on the date the account is opened and the date that interest is paid.

How do I open and manage my account?

  • This account is available to new and existing customers
  • Applications can be made online using our Online Service, by post or at our Epsom Branch
  • Each bond requires a deposit of £10,000 exactly. This can be made by debit card (online only), by transfer from your bank account, by cheque or by transfer from another savings account with us (subject to normal withdrawal terms of the paying account)
  • Additions are not permitted
  • Each bond requires details of a nominated bank account to be registered for interest and prize payments 
  • Instructions for the account can be made by secure message via our Online Service, by phone, or by post
  • This account can only be operated by people aged 18 and over.

Can I withdraw money?

  • Withdrawals are not permitted
  • Account closure is available without access charge after 35 days' notice. Once a bond is closed it no longer qualifies for the monthly draw
  • Once given, notice of closure cannot be cancelled or amended.

Additional information

Tax status: Interest is paid gross without deduction of income tax. You will need to declare any income from savings interest earned over your PSA2 through a self-assessment tax return to HM Revenue & Customs. Interest is paid annually on 31 July and available from the following day.

Monthly prize draw: Each qualifying bond is entered into a free draw for a set of monthly prizes, ranging from Level A to Level E, as outlined below. The number of prizes will vary month to month.

Effective from 1 October 2024 a Level A prize has a value of up to £50,000, Level B prize has a value of £10,000, Level C prize has a value of £1,000, Level D prize has a value of £500, and Level E prize has a value of £100.

Please Note: This promotion is not available to employees of the Society, or their families, other household members, their agents or to third parties who are directly connected with the promotion, advertising or administration of this Windfall Bond Monthly Free Draw. If your situation has changed since opening a Windfall Bond and any of these now apply, please let us know as you will not be eligible for the prize draw.

This issue may be withdrawn at any time without prior notice.

1AER stands for Annual Equivalent Rate and illustrates what the annual rate would be if interest was compounded.

2PSA stands for Personal Savings Allowance. 

All financial information correct on 18 December 2025. 

 

Operating an account on behalf of someone else

This account can be operated by Attorneys and Deputies and can be operated by Third Parties.

 

Why choose Family Building Society?

We're an award-winning building society that does things differently, with over 125 years supporting savers and over 52,000 account holders. No matter what you're saving for we're here to help and have a chat if you like, with minimum jargon.

All our savings accounts are FSCS protected.


Frequently asked questions about our easy access savings accounts

Our easy access accounts offer you the freedom and flexibility to access your money without needing to wait for a notice period. Perfect for a short-term savings goal. You can compare all our easy access products in the table below.
Depending on the savings account you wish to open, you may be able to apply online, by post or in branch (as detailed below in the individual product additional information). If you are applying online and new to Family Building Society, it only takes a few minutes to apply. Please have your National Insurance number to hand.

You can open an account as an individual, jointly or as an attorney. You must be ordinarily resident in the UK for tax purposes.

We don’t have a limit to the number of easy access savings accounts you can have. The overall maximum investment any one individual can have with us for all share accounts is £2,000,000.

Yes, your savings are in safe hands, protected up to a total of £120,000 by the Financial Services Compensation Scheme.

This limit is applied to the total of any deposits you have with the following: Family Building Society and National Counties Building Society. Any total deposits you hold above the limit between these brands are unlikely to be covered. 

Learn more about the FSCS. 

If getting access to your savings and having the ability to make withdraws easily is a priority for you when saving, then an easy access savings account is likely to be suitable for you.

You can earn tax-free interest up to your Personal Savings Allowance. The allowance is £1,000 in interest each tax year for basic rate taxpayers and £500 for higher rate taxpayers. There is usually no allowance for additional rate tax payers.

We also offer a range of tax-free Easy Access Cash ISAs.

Yes, all our easy access savings accounts have variable interest rates and may change as per the terms and conditions of the particular account. Further information can be found in ‘Section 14: Interest’ of our General Conditions for our Savings Accounts about when we may make changes to the interest rate and how this will be communicated. 

Notice accounts require you to give notice if you wish to withdraw your money, whereas easy access accounts do not. Easy access accounts typically pay lower rates of interest, but depending on if you need the flexibility of access, then an easy access account is likely to be best suited to you!

Over 125 years looking after people's money

For a long time we've been trusted to help people save for homes, holidays & more with a more small scale, personal approach as shown in our awards.


 

More about who we areView our awards