Notices
  • Support for Coronavirus - how we're helping our customers See more

Market Tracker Cash ISA (2)

Save the hassle of shopping around for an attractive rate, as we do all the hard work for you.

Your savings are protected.

FSCS - Your savings are protected
Annual interest (AER gross) Account rate type Minimum opening amount Additional information Monthly interest option? Withdrawal limits Available to new customers?
0.38%
  • Tracker
  • Variable
£500
  • Open & manage online
  • Available to new and existing customers
No Unlimited Yes

Key features

View summary box
  • Apply for an account online, by post or at our Epsom branch
  • Save from £500 up to £250,000
  • Minimum withdrawal £100
  • Save up to the annual statutory limit of £20,000 for the 2021 / 2022 tax year
  • Tax-free interest earned from the day we receive your investment (subject to identification requirements being met)
  • Variable interest rate – Which is reviewed four times a year in March, June, September and December
  • Interest paid annually on 30 September and added to the account
  • Add to your savings* by debit card (online only), by transfer from your bank account, by cheque, by transfer from another account with us
  • Transfers from flexible and non-flexible Cash ISAs are accepted however cannot be applied for online
  • Please note, transfers from Stocks & Shares ISAs are not permitted
  • Easy access to your savings without an access charge and will be paid by
    transfer to your bank account or by transfer to another account with us
  • Withdrawals, closure and transfer to another ISA provider without an access charge

* To send additional savings directly from your bank account the banking details you’ll need can be found on the back of your new account Certificate. To add to your account using your debit card you will need to register for our Online Service. If you are not already a user of our Online Service for an existing account with us, you can register via our website once you have received your Certificate. After you have registered, we will send you a verification code. For security reasons, this is sent by email or by post. You need this code for your first login, and you will only be able to add to your account by debit card once you have logged in and entered your verification code.

The information provided 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.



Open an ISA online Account info downloads Request a callback

Account summary box

Account name

Market Tracker Cash ISA (2)

What is the interest rate?

Rate effective from 1 July 2021 Tax-free1AER2
£500+ 0.38%
  • Interest is calculated daily and added to the account annually on 30 September
  • The interest rate tracks our Market Tracker Saver (1) account interest rate, plus 0.05%
  • The interest rate on the Market Tracker Saver is calculated using data from Moneyfacts® and pays an average interest rate of the 20 highest gross annual variable interest rates, for an investment of £10,000 from a reference group

Can the Family Building Society change the interest rate?

Yes, we will review the interest rate four times a year in March, June, September and December and publish the results on our website here no later than 15 calendar days before the end of the review month

We will notify you each time the interest rate changes by email. If you don’t provide us with an email address, you will be able to check our website for any updates. We do not send these notifications by post

Further information can be found in the ‘Interest’ section of the Product Features Leaflet

What would the estimated balance be?

The estimated balance after 12 months would be:
Opening balance Projected balance (Gross)
£1,000 £1,003.80
  • This projection is based on the interest rate on 1 July 2021 and does not take into account any fluctuations in the reference interest rate over a 12 month period. It also assumes that the account is opened with the stated amount with no additions or withdrawals made
  • 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?

  • The Market Tracker Cash ISA (2) is currently available to new and existing customers. It is also available for the automatic re-investment of our Junior Cash ISA, when the child reaches 18
  • This ISA can be applied for online, by post or at our Epsom branch
  • Transfers from flexible and non-flexible Cash ISAs are accepted^
  • Please note, transfers from Stocks & Shares ISAs are not permitted
  • A minimum of £500 must be deposited
  • Additions are allowed but not required on a regular basis
  • Additions to the account 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
  • An annual statutory limit of £20,000 for the tax year 2021 / 2022 can be deposited, plus transfers of previous tax years' subscriptions
  • A maximum of £250,000 may be held in the account
  • Instructions for the account can be made via the Online Service, by phone, by post or at our Epsom branch
^This product is not a flexible ISA. Transfers in of flexible ISAs are allowed, however you will lose the flexibility of being able to replace withdrawn funds.

Can I withdraw money?

  • Withdrawals are available without notice or access charge and can be paid
    by transfer to your bank account or by transfer to another account with us.
    Minimum withdrawal is £100. Please see the ‘Taking money out’ section of the
    Product Features leaflet for full information.
  • Transfer to another ISA provider is allowed

How can I make deposits?

  • Additions are allowed but not required on a regular basis
  • Additions to the account can be made by debit card (online only), by transfer from your bank account, by cheque, by transfer from an existing account with us
  • An annual statutory limit of £20,000 for the tax year 2021 / 2022 can be deposited, plus transfers of previous tax years' subscriptions

Additional information

Tax status: Tax-free (the future tax treatment of Individual Savings Accounts may vary) Interest is paid annually on 30 September and added to the account.

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

1Interest is paid tax-free as it is currently exempt from income tax. The future tax treatment of Individual Savings Accounts may vary.

2AER stands for Annual Equivalent Rate and illustrates what the annual rate would be if interest was compounded.

All financial information correct on 2 June 2021.

*To find out more about how our Market Tracker savings products work, click here

How to apply – Transfer of an existing Cash ISA only

You can apply to transfer an existing Cash ISA to a new Flexible ISA account in the following ways:

• By visiting our Epsom branch, which can be found in Ashley Square, Epsom, Surrey, KT18 5DD
• Request an application pack over the phone: Call us on 03330 140141


Please note
, you can't apply online to transfer an existing Cash ISA into a new Flexible ISA if you are not adding new money as part of this year's ISA subscription. However, you will be able to manage your account online once it has been opened. If you are a new customer, you should wait to receive your new ISA account number from us before registering for our Online Service. Your account number will be sent to you once the transfer has been completed and your new account opened. If you already use our Online Service, you do not need to register again to view the account once it has been opened.


To transfer your existing Cash ISA to the Family Building Society, you will need to complete and send us both a Flexible ISA Application Form AND Cash ISA Transfer Authority Form. We will then notify your current ISA provider so that the transfer can begin in line with their terms and conditions. The process can take up to 15 working days from receipt of an application form and transfer request form to the new account being opened. It varies depending on the speed with which your existing ISA manager responds to our request.

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.

 

Use of a debit card to deposit savings

To add to your account using your debit card, you will need to register for our Online Service. You can’t use your debit card to add money to your account over the phone. Please note that the debit card you use to deposit money via the Online Service should be registered to the address we hold for you.

Debit card transactions are subject to approval by your bank and may be declined if you do not have sufficient funds available in your bank account or the transaction exceeds your bank's anti-fraud limits.

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.


awards


More about who we areView our awards

Call our expert UK team

New enquiries

Savings - 03330 140141

Mortgages - 03330 140140

Existing customers

Savings - 03330 140144

Mortgages - 03330 140146

...or ask the way that suits you.

Request a call back

We can call you back at a time that suits you.

Visit us in branch

Ashley Square, Epsom, Surrey, KT18 5DD.

View our FAQs

Your questions might be answered here.