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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 the fixed term. It's an ideal choice if you don't need access to your savings for a fixed amount of time but would like the interest you earn on your account to go up should the Bank of England Bank Rate rise.

The Tracker Rate Bond key features are:

Variable interest that tracks changes in the Bank of England Bank Rate for the duration of the term.

  • Apply for an account online, by post or at our Epsom branch
  • Save up to £250,000
  • No additions allowed
  • Variable interest rate may go down as well as up
  • Interest rate tracks changes in the Bank of England Bank Rate for the duration of the term
  • Interest rate changes take effect from the 1st of the month following an announcement of a Bank of England Bank Rate change during the tracker term
  • Interest paid annually on 30 June and on maturity into the account or by transfer to your bank account
  • Monthly income option
  • No partial withdrawals or closure prior to maturity
  • Automatic reinvestment of funds, on maturity, into another Tracker Rate Bond or Market Tracker Saver

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 Account booklet.

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Account Name


What is the interest rate?

Rate effective from 1 June 2019

Variable rate for 3 years - Annual Gross Gross AER1
£5,000+ 1.97% 1.97%
Variable rate for 3 years - Monthly Gross Gross AER1
£5,000+ 1.95% 1.97%
  • Interest is calculated and paid annually on 30 June and on maturity, or monthly
  • The interest rate tracks the Bank of England Bank Rate, plus 1.22% (annual interest) or 1.20% (monthly interest) for the duration of the term
  • The minimum interest rate is 0.00%
  • To access and monitor the Bank of England Bank Rate visit

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

What would the estimated balance be after 36 months?

Opening balance - annual interest Projected balance (Gross)
£5,000 £5,301.36
Opening balance - monthly interest Projected balance (Gross)
£5,000 £5,000.00*
* monthly interest of £8.13 is paid away, which totals £292.68 over 36 months

  • These projections assume that the account is opened with the stated amounts with no additions or withdrawals made. Projected balance is at the end of 36 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 3 Year Tracker Rate Bond (2) can be applied for online, by post or at our Epsom branch
  • A minimum of £5,000 must be deposited
  • Additions are allowed for 15 calendar days after the 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
  • Instructions for the account can be made via the Online Service, by phone, by post or at our Epsom branch

Can I withdraw money?

  • Withdrawals are not permitted 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

Additional information

TAX STATUS: Interest is paid gross without deductions 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

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

PSA stands for Personal Savings Allowance.

All financial information correct on 8 May 2019.

You can apply online, in our Epsom branch or download an application pack

Request an application pack
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03330 140 141
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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 FAQs 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 FAQs 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.

Family Building Society
Ebbisham House
30 Church Street
Surrey KT17 4NL
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