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The information on this page explains how we review and set the interest rate paid on the Market Tracker Saver account. 

Please note that for existing customers who have the Market Tracker Cash ISA (1), this account will follow the interest rate set for the Market Tracker Saver account but will always pay an interest rate that is 0.10% higher. 

Subsequent issues of the Market Tracker Cash ISA will also follow the interest rate for the Market Tracker Saver account but will pay an interest rate that is 0.05% higher.

Four times a year we review the interest rate paid on the Market Tracker Saver account. These reviews take place in March, June, September and December each year and the changes arising apply to the account from the first day of the following month. For example, the review outcome in September is applied to the account from 1 October.

Each review may lead to one of three outcomes – either an increase in interest rate for the following quarter, a reduction in rate, or no change.

The review is undertaken in the first five calendar days of the month and the review date and the result is published on our website no later than 15 calendar days before the end of the review month. Where an account holder has given us their email address, we will also send an email notification of the outcome of the quarterly reviews.

The interest rate paid on the Market Tracker Saver account is calculated using data from Moneyfacts® as supplied on the review date. The interest rate paid is the average of the 20 highest gross annual variable interest rates for an investment of £10,000 in immediate access accounts available from the list of firms published on our website (called the “reference group”).

The terms of accounts included in the reference group must meet the following criteria:

  • Interest rate: Unconditional and independently set. This means that the interest rate offered must not be linked to other rates or indices, such as Bank of England Bank Rate, or to groups of other savings products and with no part of the interest being a time limited additional interest rate, bonus rate or otherwise on conditional terms, for example not exceeding a set number of withdrawals.
  • No opening restrictions: Stand alone accounts only, by which we mean that the account terms must not require other accounts to be opened or other products purchased in order to qualify for the advertised interest rate.
  • Availability: Accounts must be available to individuals resident anywhere in the UK aged 25 years or older.
  • Withdrawals: Available immediately with no notice or penalty.
  • Account operation: Opened and operated by post or telephone or internet.
  • Affinity accounts: We exclude accounts which require membership of a third party organisation or which include a donation to such an organisation.
  • Duplication: We only include one account where a company or group of companies offers accounts on similar terms across more than one brand and / or distribution channel.

The firms included in the reference group and / or the criteria for inclusion of accounts may be changed by us giving three calendar months advance notice to do so. Notification of such changes will be published alongside a quarterly review outcome on our website.
Unless we have made a clear calculation error then our determination of the interest rate at each review date will be binding upon account holders.

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