The Family Building Society: Savings accounts overview

Family Building Society offers a broad range of savings accounts with interest rates up to 4.86%.

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Family Building Society

The Family Building Society is the baby of the building society sector, having launched in 2014.

It was created with the idea that families could help one another get mortgages and loans. For example, parents and grandparents could act as mortgage guarantors. This way they could help their younger relatives get on the housing ladder without directly giving their money away.

Easy access savings accounts

Table: sorted by interest rate
Family Building Society's best easy access rate of 4.86% is significantly lower than today's market-best rate of 7.49%.
1 - 5 of 6
Name Product Account type Withdrawals Min. opening balance Interest rate Deposit protection Open via Incentive Apply link
Family Building Society – Market Tracker Cash ISA (2)
Cash ISA
Instant access
£500
4.86% AER variable
FSCS logo
protected
Open via: branch, website, post
Go to site
View details
Family Building Society – Market Tracker Saver (1)
Variable
Instant access
£500
4.81% AER variable
FSCS logo
protected
Open via: branch, website, post
Go to site
View details
Family Building Society – Flexible ISA (3)
Cash ISA
Instant access
£500
3.5% AER variable
FSCS logo
protected
Open via: branch, website, post
Go to site
View details
Family Building Society – Branch Saver (5)
Variable
Instant access
£1
3.55% AER variable (on balance over £500)
FSCS logo
protected
Open via: branch
Go to site
View details
Family Building Society – Everyday Saver (3)
Variable
Instant access
£100
3.5% AER variable (on balance over £50,000)
FSCS logo
protected
Open via: branch, website, post
Go to site
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Cash ISAs

Table: sorted by interest rate
Family Building Society's best cash ISA rate of 4.86% is very slightly lower than today's market-best rate of 5.1%.
1 - 5 of 7
Name Product Interest rate Minimum investment Interest paid Withdrawals Deposit protection Open via Incentive Table product description Apply link
Family Building Society – Market Tracker Cash ISA (2)
4.86% AER variable
£500
Yearly
Instant access
FSCS logo
protected
Open via: branch, website, post
Go to site
View details
Family Building Society – 1 Year Fixed Rate Cash ISA (35)
4.55% AER fixed for 1 year
£1,000
Yearly
Withdrawals not permitted
FSCS logo
protected
Open via: branch, post
Go to site
View details
Family Building Society – 2 Year Fixed Rate Cash ISA (31)
4.25% AER fixed for 2 years
£1,000
Yearly
Withdrawals not permitted
FSCS logo
protected
Open via: branch, post
Go to site
View details
Family Building Society – 3 Year Fixed Rate Cash ISA (29)
4.05% AER fixed for 3 years
£1,000
Yearly
Withdrawals not permitted
FSCS logo
protected
Open via: branch, post
Go to site
View details
Family Building Society – 35 Day Notice Cash ISA (3)
4% AER variable (on balance over £30,000)
£3,000
Yearly
35 days notice needed (charge applies )
FSCS logo
protected
Open via: branch, website, post
Go to site
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Fixed-rate bonds

Table: sorted by interest rate
Family Building Society's best fixed-rate bond rate of 4.7% is slightly lower than today's market-best rate of 5.5%.
1 - 5 of 8
Name Product Interest rate Invest Interest paid Withdrawals Open via Deposit protection Open via Incentive Table product description Apply link
Family Building Society – 1 Year Fixed Rate Bond (46)
4.9% AER fixed for 1 year (on balance over £10,000)
£5,000 - £250,000
Monthly
Withdrawals not permitted
Branch, post
FSCS logo
protected
Open via: branch, post
Go to site
View details
Family Building Society – 1 Year Fixed Rate Bond (46)
4.9% AER fixed for 1 year (on balance over £10,000)
£1,000 - £250,000
Yearly
Withdrawals not permitted
Branch, post
FSCS logo
protected
Open via: branch, post
Go to site
View details
Family Building Society – 2 Year Fixed Rate Bond (42)
4.6% AER fixed for 2 years (on balance over £10,000)
£5,000 - £250,000
Monthly
Withdrawals not permitted
Branch, post
FSCS logo
protected
Open via: branch, post
Go to site
View details
Family Building Society – 2 Year Fixed Rate Bond (42)
4.6% AER fixed for 2 years (on balance over £10,000)
£1,000 - £250,000
Yearly
Withdrawals not permitted
Branch, post
FSCS logo
protected
Open via: branch, post
Go to site
View details
Family Building Society – 3 Year Fixed Rate Bond (42)
4.2% AER fixed for 3 years (on balance over £10,000)
£5,000 - £250,000
Monthly
Withdrawals not permitted
Branch, post
FSCS logo
protected
Open via: branch, post
Go to site
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Notice savings accounts

Table: sorted by interest rate
Family Building Society's best notice savings account rate of 3.8% is lower than today's market-best rate of 5.25%.
1 - 3 of 3
Name Product Account type Withdrawals Open with Deposit protection Interest rate Open via Incentive Table product description Apply link
Family Building Society – 35 Day Notice Cash ISA (3)
Cash ISA
35 days notice needed (charge applies )
From £3,000
FSCS logo
protected
4% AER variable (on balance over £30,000)
Open via: branch, website, post
Go to site
View details
Family Building Society – 35 Day Notice Saver (3)
Variable
35 days notice needed
£1,000 - 250,000
FSCS logo
protected
4% AER variable (on balance over £50,000)
Open via: branch, website, post
Go to site
View details
Family Building Society – 35 Day Notice Saver (3)
Variable
35 days notice needed
£5,000 - 250,000
FSCS logo
protected
4% AER variable (on balance over £50,000)
Open via: branch, website, post
Go to site
View details
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What is Family Building Society's best savings account with the highest interest rate?

The best savings account depends on what you want from your savings. If you're after fast access to your money, then an easy-access account should suit you. However, if you're happy to lock your money away for a time to access a higher rate, then a fixed-rate bond is a good option.

Finally, if you're looking to maximise your returns and shield them from income tax, consider an ISA. Below, we've listed the different types of accounts Family Building Society offers, plus the highest interest rate currently available.

Savings account types include Easy access, cash ISAs, fixed-rate bonds, notice accounts
Best easy access rate 4.86%
Best cash ISA rate 4.86%
Best fixed-rate bond rate 4.7%
Best notice account rate 3.8%
Fixed bond terms 1 year - 5 years
Notice account periods available 35 days
Opening options Branch, website, post
FSCS protection

What is a cash ISA?

A cash ISA, or individual savings account, is a savings account where you don’t pay tax on the interest you earn. There’s a limit on the amount you can deposit into ISAs each year, which is set by the government.

How safe is Family Building Society?

The Family Building Society is authorised and regulated by the Financial Conduct Authority. It’s also covered by the Financial Services Compensation Scheme, so if the bank goes bust your savings are protected for up to £85,000.

However, it’s important to remember the FSCS compensation only covers an individual group. So, because the Family Building Society is part of the National Counties Building Society, you’d only be covered for a total of £85,000 for any savings you have split between the two.

You wouldn’t be protected for £170,000 just because your savings are spread across the two building societies.

What is a building society?

A building society is a financial institution owned by its members. Building societies offer banking and related financial services including mortgages and savings.

Whereas banks are normally listed on the stock market and run for their shareholders, building societies aren’t. Because they don’t have shareholders to pay, building societies have historically claimed to offer better interest and cheaper mortgage rates than banks.

What are the pros and cons of saving with Family Building Society?

Pros

  • Online banking. Apply and manage your accounts online. Although there isn’t an app, you can check balances and transactions, make withdrawals to your nominated account and transfer money between your Family BS accounts online.
  • Flexibility. Family Building Society has loads of different account options, whether you’re looking to save a few quid or larger amounts.

Cons

  • Better rates elsewhere? Rates are average across the board. It might be worth looking at other savers.
  • No high-street presence. Unless you live near Epsom you can’t visit a physical branch. If you still like a personal touch when banking, the Family Building Society might not be for you.

Customer service information for The Family Building Society

Email support
Telephone support
In-app or live chat
Contact form
Branch support

Frequently asked questions

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