Windfall Bond
Please note: The Windfall Bond has been withdrawn for new account openings. However, the regular monthly draw with continue as normal.
Your savings are protected.
Key features
View summary box- Participate in the monthly free draw after a qualifying period
- Save exactly £10,000 per bond held
- Variable interest rate linked to Bank of England Bank Rate (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
- Each issue has limited availability
- This account can only be opened and operated by people aged 18 and over
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.
Account summary box
Account name
What is the interest rate?
| Rate effective from 1 September 2023 | ||||
| £10,000 | 5.25% | 5.25% | ||
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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'll review our linkage to the Bank of England Bank Rate on 1 November annually and give you three months' notice of any such change.
What would the estimated balance be?
| Opening balance |
Projected balance (Gross) |
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| £10,000 |
£10,000* |
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| *annual interest of £525.00 is paid away to a pre-nominated account in your name | ||||
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How do I open and manage my account?
- Each bond requires a deposit of £10,000 exactly
- 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
How can I make deposits?
- Each bond requires a deposit of £10,000 exactly
- Additions are not permitted
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: 15 x £1,000, 3 x £2,500, 2 x £10,000 and 1 x £50,000 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. All financial information correct on 3 August 2023. |
Operating an account on behalf of someone else content
This account is available for operation by Third Parties, Attorneys and Deputies. For information on how to set up any of these on your savings accounts please click here.
If you have already set up Power of Attorney, a Deputy or Third Party and wish to open this savings account, you can find details of the forms we require here.
If you have any further account opening queries please contact our New Business Team on 03330 140141
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Savings - 03330 140144
savings.service@familybsoc.co.uk
Mortgages - 03330 140146
mortgage.service@familybsoc.co.uk
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