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Please note: The Windfall Bond has been withdrawn for new account openings.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.

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?
  • Variable
£10,000   No No withdrawals. Closure after 35 days' notice No

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.

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Account summary box

Account name

Windfall Bond

What is the interest rate?

Rate effective from 1 September 2023    
£10,000 5.25% 5.25%
  • Interest is calculated daily and paid annually on 31 July
  • The interest rate currently tracks and pays the Bank of England Bank Rate. To access and monitor the Bank of England Bank Rate visit
  • 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'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)


*annual interest of £525.00 is paid away to a pre-nominated account in your name
  • This projection is based on the interest rate on 1 September 2023 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?

  • 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 PSAthrough 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.

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 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

Over 125 years looking after people's money

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Savings - 03330 140141

Mortgages - 03330 140140

Existing customers

Savings - 03330 140144

Mortgages - 03330 140146

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