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)

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.

What is a notice savings account?

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.

How do I open my notice savings account?

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
Annual	Gross	Gross 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 PSA²through 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.

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 18 August 2023.

Account information downloads

35 Day Notice Saver Product Features Leaflet
35 Day Notice Saver Summary Box flyer
Financial Services Compensation Scheme Information Sheet
How we use your personal information
General Conditions for our Savings Accounts
Tariff of savings charges

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

What happens if I change my mind after giving notice of withdrawing money?

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.

Will I still earn interest during the notice period?

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

Can Family Building Society change the interest rate?

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.

What are the alternatives to a notice savings account?

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