Notices

  • Please note:

    The Windfall Bond has been withdrawn for new account openings.  However, the regular monthly draw will continue as normal. Further information can be found here.

    New account holders:  Newly opened accounts need to be fully funded and nominated bank details registered before the end of October to be eligible for entry into the December Prize Draw.

Notice accounts

Notice savings accounts

Ideal if you don’t need access to your funds in the short term. Allows you to save up to £250,000.

 

Looking to start saving with Family Building Society?

We're an award-winning building society that does things differently, with over 125 years supporting savers and over 47,000 account holders. No matter what you're saving for we're here to help and have a chat if you like, with minimum jargon.

All our savings accounts are FSCS protected.

A notice savings account typically offers a better return on your savings, compared to easy access accounts. Our notice savings accounts usually require a notice period of either 35 or 90 days, but this may differ subject to account availability.

A notice savings account is likely to be the best fit for you if you don’t need access to your money in the short term. For customers that require easier access to their savings, an easy access account could be the right fit for you. 

It is quick and easy to open and manage your account with Family Building Society. You may be able to apply online, by post or at our Epsom branch to open one of our notice savings accounts below, depending on the product selected.

 

Annual interest (AER gross) Account rate type Minimum opening amount Additional information Monthly interest option? Withdrawal limits Available to new customers?
3.65% to 4.00%
  • Variable
 £1,000
  • Interest rates depend on balance
  • Apply online, by post or in branch.
 Yes After 35 days notice. Yes

Key features

View summary box
  • Variable tiered interest rate to reward those who save more
  • Apply for an account online, by post or at our Epsom branch
  • Save from £1,000 up to £250,000
  • Minimum withdrawal £100
  • Interest paid annually on 31 May and added to the account or a pre-nominated account in your name
  • Monthly income option
  • Add to your savings by debit card (online only via the Online Service), by transfer from your bank account, by cheque, by transfer from another account with us or by cash
  • Withdrawals available without an access charge after 35 days notice and will be paid by transfer to your bank account or by transfer to another account with us
  • Closure available without an access charge after 35 days notice and will paid by transfer to your bank account
  • 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.

Open a savings account online Account info downloads Request a callback

Already an existing customer registered to our Online Service? You can apply using our Online Service

Account summary box

Account name

35 Day Notice Saver (3)

What is the interest rate?

Rate effective from 31 August 2023  
AnnualGrossGross AER1
£50,000+4.00%4.00%
£1,000+3.65%3.65%
Monthly  
£50,000+3.93%4.00%
£5,000+3.59%3.65%
  • Interest rates are dependent on balance amount
  • Interest is calculated daily and paid annually on 31 May or monthly.

Can the Family Building Society change the interest rate?

Yes, the interest rate is variable and may be changed. Please refer to Section 14 of the General Conditions for our Savings Accounts booklet for more information on when we may make changes to the interest rate and how this will be communicated.

What would the estimated balance be after 12 months based on a £1,000, £5,000 and £50,000 deposit?

Opening balance - Annual interest
Projected balance (Gross)
£50,000
£52,000.00
£1,000
£1,036.50
Monthly interest

£50,000
£50,000*
£5,000
£5,000**

*monthly interest of £163.75 is paid away, which totals £1,965.00 per annum

**monthly interest of £14.96 is paid away, which totals £179.52 per annum

  • These projections assume that the account is opened with the stated amount with no additions or withdrawals made. 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 35 Day Notice Saver (3) can be applied for online, by post or at our Epsom branch
  • 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 via the Online Service, by phone, by post or at our Epsom branch.

Can I withdraw money?

  • Withdrawals are available after 35 days' notice with no access charge and will be paid by transfer to your bank account or by transfer to another account with us. Immediate withdrawals are not permitted
  • Minimum withdrawal is £100.
Please see the 'Taking money out' 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 but not required on a regular basis
  • Additions to the account can be made by debit card (online only via the Online Service), by transfer from your bank account, by cheque, by transfer from another savings account with us or by cash
  • 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 PSA2 through a self-assessment tax return to HM Revenue & Customs. Interest is paid annually on 31 May and available the following day, or monthly. 
 

This issue may be withdrawn at any time without prior notice.

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 18 August 2023.

Operating an account on behalf of someone else

This account can be opened and operated by Attorneys and Deputies. It can also be operated by Third Parties. For full details click here. 

 

Use of a debit card to deposit savings

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.

Frequently asked questions

For most of our notice accounts, once notice has been given it can be cancelled. If you give notice and subsequently decide you want to alter the amount you wish to withdraw or make a change to the date of the withdrawal, then this would require the full notice period to be served again.

Please note that for our Windfall Bond, once notice for closure has been given, this cannot be cancelled or amended. 

Yes, you will still earn interest up until the date the withdrawal has been made.

Yes, our notice accounts have variable interest rates and may change as per the terms and conditions of the particular account. Further information can be found in ‘Section 14: Interest’ of our General Conditions for our Savings Accounts about when we may make changes to the interest rate and how this will be communicated.

We also offer easy access savings accounts, fixed term bonds, ISAs and some children’s accounts.

Contact our expert UK team

New enquiries

Savings - 03330 140141

Mortgages - 03330 140140

newbusiness@familybsoc.co.uk

Existing customers

Savings - 03330 140144
 savings.service@familybsoc.co.uk

Mortgages - 03330 140146
 mortgage.service@familybsoc.co.uk

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