• Service update - due to planned essential maintenance our Online Service will be unavailable on Friday 28 January from 18:00 until Saturday 29 January 12:00.

  • Following the Bank of England’s decision to raise the Bank Rate by 0.15% to 0.25% in December 2021, Windfall Bond and Tracker Savings Bond rates increased by 0.15% from 1 January 2022. Tracker mortgages changed from 25 January and we have written to customers individually with revised payment details where the new rate exceeds the minimum rate (or ‘floor’) already applying to their mortgage. We will be considering our other savings and our variable mortgage rates after the Bank of England MPC meeting on 3 February. (Notice updated 19/01/22)

  • Please note that the Premium Saver (5) has now been withdrawn from sale. 
    If you have opened an account, you may add funds until 3pm, 7 February 2022, after this no additions will be allowed.

Windfall Bond

Keep your capital secure and accessible, earn interest at the Bank of England Bank Rate and enter a monthly prize draw for the chance to win up to £50,000.

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
  • Open & manage online
No No withdrawals. Closure after 35 days' notice Yes

Key features

View summary box
  • Participate in the monthly free draw after a qualifying period
  • Apply for an account online
  • 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.

The Windfall Bond can only be applied for online using our Online Service.

If you wish to open more than one Windfall Bond, you will need to repeat the new account opening process via our Online Service for each new bond.

Open a Windfall Bond account online Account info downloads Request a callback

Account summary box

Account name

Windfall Bond

What is the interest rate?

Rate effective from 1 January 2022    
£10,000 0.25% 0.25%
  • 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 £25.00 is paid away to a pre-nominated account in your name
  • This projection is based on the interest rate on 1 January 2022 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?

  • The Windfall Bond can be applied for online using our Online Service
  • 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 opened and 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?

  • Opening transactions can be made either by debit card (via our online service), by transfer from your bank account, or by transfer from another savings account with us (subject to the normal withdrawal terms of the paying account)
  • 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 17 December 2021. 

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

Use of a debit card to deposit savings content

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.


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New enquiries

Savings - 03330 140141

Mortgages - 03330 140140

Existing customers

Savings - 03330 140144

Mortgages - 03330 140146

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Ashley Square, Epsom, Surrey, KT18 5DD.

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