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Homes for Ukraine - important information can be found here.
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Monthly savings statements - From May we will be sending future monthly statements of electronic transactions on your savings account by email. More details on how to view your statement and the new process can be found here.
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Following the Bank of England’s decision to raise the Bank Rate by 0.25% to 1.00% on 5 May 2022, Windfall Bond and Tracker Savings Bond rates will increase by 0.25% from 1 June 2022. We are reviewing our other variable savings rates and will notify customers of any interest rate increase on their account. Tracker mortgages will change on 25 June 2022 and we will write to customers individually with revised payment details where the new rate exceeds the minimum rate (or ‘floor’) already applying to their mortgage. (Notice updated 06/05/2022)
2 Year Tracker Rate Bond (10)
The Tracker Rate Bond offers the best of both worlds for Savvy savers. With a competitive initial interest rate, this account continues to track the Bank of England Bank Rate throughout its fixed term.
Your savings are protected.
Key features
View summary box- Available to new and existing customers
- Apply for an account online, by post or at our Epsom branch
- Save up to £250,000
- Interest rate tracks changes in the Bank of England Bank Rate for the duration of the term
- Interest paid annually on 30 June and on maturity and added to the account or to a pre-nominated account in your name
- Monthly income option
- No partial withdrawals or closure prior to maturity
- Additions are allowed for 15 calendar days after the account is opened. After this period no additions are allowed.
Already an existing customer registered to our Online Service? You can apply using our Online Service
Account summary box
Account name
What is the interest rate?
| Rate effective from 14 April 2022 | ||
| Tracker rate for 2 years - Annual | Gross | Gross AER1 |
| £5,000+ | 1.30% | 1.30% |
| Tracker rate for 2 years - Monthly | Gross | Gross AER1 |
| £5,000+ | 1.29% | 1.30% |
| Rate effective from 1 June 2022 | ||
| Tracker rate for 2 years - Annual | Gross | Gross AER1 |
| £5,000+ | 1.55% | 1.55% |
| Tracker rate for 2 years - Monthly | Gross | Gross AER1 |
| £5,000+ | 1.54% | 1.55% |
- The interest rate tracks the Bank of England Bank Rate, plus 0.55% (annual
interest) or 0.54% (monthly interest) for the duration of the term - Interest is calculated daily and paid annually on 30 June and on maturity, or monthly
- The minimum interest rate is 0.00%
- To access and monitor the Bank of England Bank Rate visit bankofengland.co.uk
Can the Family Building Society change the interest rate?
The 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
What would the estimated balance be after 24 months based on a £5,000?
| Opening balance - annual interest | Projected balance (Gross) | ||
| £5,000 | £5,130.85 | ||
| Opening balance - monthly interest | Projected balance (Gross) | ||
| £5,000 | £5,000* |
* monthly interest of £5.38 is paid away, which totals £129.12 over 24 months
- This projection is based on the interest rate on 14 April 2022 and does not take into account any fluctuations in the reference interest rate over a 24 month period. It also assumes that the account is opened with the stated amount with no additions or withdrawals made
- 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?
- The 2 Year Tracker Rate Bond (10) is available to new and existing customers
- Apply for an account online, by post or at our Epsom branch
- A minimum of £5,000 must be deposited for annual interest accounts, and a minimum of £5,000 for monthly interest accounts
- Instructions for the account can be made by secure message via our Online Service, by phone, by post or at our Epsom branch
Can I withdraw money?
- Withdrawals are not permitted during the tracker rate term before maturity
- Your Tracker Rate Bond becomes available for reinvestment or withdrawal on the maturity date shown on your Savings Account Certificate. We will write to you no later than 15 calendar days before maturity with details of the products available for reinvestment. Please refer to the ‘Maturity’ section of the Product Features leaflet for full information
How can I make deposits?
- A minimum of £5,000 must be deposited for annual interest accounts, and a minimum of £5,000 for monthly interest accounts
- Additions are allowed for 15 calendar days after your account is opened. After this period, no additions are allowed. We reserve the right to return funds if you decide to invest more than the amount originally specified on your original application
- Additions to the account can only be made by transfer from your bank account
- A maximum of £250,000 may be held in the account
Additional information
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 5 May 2022.
Operating an account on behalf of someone else
This account is available for operation by Third Parties, Attorneys and Deputies. For information on how to set up any of these on your accounts please refer to our Help to manage your finances page where all the information you should need can be found.
If you have already set up Power of Attorney, a Deputy or Third Party and wish to open this account, please also refer to our Help to manage your finances page where you can find details of the forms we require. If you have any further account opening queries please contact our New Business Team on 03330 140141.
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New enquiries
Savings - 03330 140141
Mortgages - 03330 140140
Existing customers
Savings - 03330 140144
Mortgages - 03330 140146
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