Notices

Savings customers - the interest rates on many of our variable rate savings products will be decreasing from 6 January 2025. Find out more

We will be emailing or writing to you shortly to let you know of how these decreases affect you. In the meantime, you can see all of these changes here.
Mortgage customers - our Managed Mortgage Rate (MMR) will decrease by 0.25% from 20 January 2025. Find out more:

From 20 January 2025, we'll be decreasing our Managed Mortgage Rates (MMR) by 0.25%. All on-sale discounted variable product rates and other details, including representative examples displayed on our website, have been updated to reflect these lower rates.
We will be writing to existing customers who have been impacted by this change, shortly, with details relevant to them.
View our Christmas opening hours here. For information on bank transfer processing times over the Christmas period please click here.
Rate changes following Bank of England decision to decrease its Bank Rate by 0.25% to 4.75% on 7 November 2024. Find out more

Savings: Interest rates for Windfall Bond and Tracker Savings Bond will decrease by 0.25% from 1 December 2024. We will be writing to all customers individually to confirm the new rates.
Mortgages: Tracker mortgages will change on 25 December 2024 and we will write to customers individually with revised payment details where the new rate exceeds the minimum rate (or ‘floor’) already applying to their mortgage.
(Notice updated 08/11)

5 Year Fixed Rate Bond (38)

If you’re looking to save money for a set amount of time and want the certainty of a fixed interest rate, then the Fixed Rate Bond could be right for you.

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?
3.55% to 3.75%	Fixed	£1,000	This account is available to existing customers who have held an open account with us for at least two months.	Yes	Not permitted.	No

Key features

View summary box

This account is available to existing customers who have held an open account with us for at least two months
Apply for an account by either:
- Visiting our Epsom branch, which can be found in Ashley Square, Epsom, Surrey, KT18 5DD
- Requesting an application pack over the phone by calling us on 03330 140141
Save up to £250,000
Fixed interest rate for the duration of the term
Interest paid annually on 30 June and on maturity and added to the account or to a pre-nominated account in your name
Monthly income option
No partial withdrawals or closure prior to maturity
Automatic reinvestment of funds, on maturity, into another Fixed Rate Bond or Market Tracker Saver
This account can be opened and/or operated by an Attorneys, Deputies or Third Parties (see below for more details).

Before you apply, please read the account summary box below. It is not intended to be a substitute for reading the Product Features leaflet and General Conditions for our Savings Account booklet.

Account info downloads Request a callback

Account summary box

Account name

5 Year Fixed Rate Bond (38)

What is the interest rate?

Rate effective from 4 October 2024

Fixed rate for 5 years - Annual	Gross	Gross AER¹
£10,000+	3.75%	3.75%
£1,000+	3.55%	3.55%
Fixed rate for 5 years - Monthly	Gross	Gross AER¹
£10,000+	3.69%	3.75%
£5,000+	3.49%	3.55%
Interest rates are dependent on the balance amount Interest is calculated and paid annually on 30 June and on maturity, or monthly.

Can the Family Building Society change the interest rate?

No, the interest rate is fixed.

What would the estimated balance be after 60 months based on a £1,000, £5,000 and £10,000 deposit?

Opening balance - annual interest		Projected balance (Gross)
£10,000		£12,021.00
£1,000		£1,190.56
Opening balance - monthly interest		Projected balance (Gross)
£10,000		£10,000*
£5,000		£5,000**

* monthly interest of £30.75 is paid away, which totals £1,845.00 over 60 months
** monthly interest of £14.54 is paid away, which totals £872.40 over 60 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 60 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?

This account is available to existing customers who have held an open account with us for at least two months
Apply for an account by either:
- Visiting our Epsom branch, which can be found in Ashley Square, Epsom, Surrey, KT18 5DD
- Requesting an application pack over the phone by calling us on 03330 140141
A minimum of £1,000 must be deposited for annual interest accounts, and a minimum of £5,000 for monthly interest accounts
Instructions for the account can be made by secure message via our Online Service, by phone, by post or at our Epsom branch.

Can I withdraw money?

Withdrawals are not permitted during the fixed rate term before maturity
Your Fixed 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.

How can I make deposits?

A minimum of £1,000 must be deposited for annual interest accounts, and a minimum of £5,000 for monthly interest accounts
Additions are allowed for 15 calendar days after your 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 be made by debit card (online only via the Online Service), by transfer from your bank account, by cheque or by transfer from another account with us
A maximum of £250,000 may be held in the account.

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 PSA²through a self-assessment tax return to HM Revenue & Customs.

¹ AER stands for Annual Equivalent Rate and illustrates what the annual rate would be if interest was compounded.
² PSA stands for Personal Savings Allowance.

All financial information correct on 30 September 2024.