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Windfall Bond
Our 35 day notice account offers 3.50% 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.
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.
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 1 March 2025 | ||||
| Annual | Gross | AER1 | ||
| £10,000 | 3.50% | 3.50% | ||
| Rate effective from 1 June 2025 | ||||
| Annual | Gross | AER1 | ||
| £10,000 | 3.25% | 3.25% | ||
| ||||
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 £350.00 is paid away to a pre-nominated account in your name | ||||
| ||||
How do I open and manage my account?
- The Windfall Bond can be applied for online using our Online Service, by post or at our Epsom Branch and is available to new and existing customers
- 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.
How can I make deposits?
- See 'How do I open and manage my account' section for information
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 8 May 2025.
Operating an account on behalf of someone else
This account can be operated by Attorneys and Deputies. It can also be operated by Third Parties. For full details click here.
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Existing customers
Savings - 03330 140144
savings.service@familybsoc.co.uk
Mortgages - 03330 140146
mortgage.service@familybsoc.co.uk
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