Easy access
The Family Building Society: Savings accounts overview
Family Building Society offers a broad range of savings accounts with interest rates up to 4.57%.
No reviews yet.
Write a review
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.
Family Building Society's top savings rate of 4.57% is available on one of its fixed-rate bond accounts.
Easy access savings accounts
Table: sorted by interest rate
Family Building Society's best easy access rate of 4.55% is significantly lower than today's market-best rate of 6.89%.
1 - 5 of 6
Cash ISAs
Table: sorted by interest rate
Family Building Society's best cash ISA rate of 4.55% is very slightly lower than today's market-best rate of 5.01%.
1 - 5 of 7
Fixed-rate bonds
Table: sorted by interest rate
Family Building Society's best fixed-rate bond rate of 4.57% is very slightly lower than today's market-best rate of 4.63%.
1 - 5 of 10
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 4.85%.
1 - 3 of 3
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 | 4.55% |
| Best cash ISA rate | 4.55% |
| Best fixed-rate bond rate | 4.57% |
| 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
FREE interest rate alerts
Sign up to receive the latest deals, expert tips, and a chance to win £800! (T&Cs)
Error placeholder Click here to sign in
More resources on Finder
More guides on Finder
-
HSBC savings accounts and rates
Check out the savings accounts on offer from HSBC. We walk you through the various types of account, and explain which one might be best for you or your kids.
-
TSB savings accounts
TSB offers a range of different savings accounts. For anyone looking to save with the bank, take a look at our detailed guide.
-
Lloyds Bank’s top savings rates get… rated
Looking to save with Lloyds bank? Our guide explains the different savings account options, so you can decide which is the best saver for you.
-
Shepherds Friendly savings accounts
Looking to get a savings accounts with Shepherds Friendly? If has options for both adult and junior savers. Read our guide for more, and find out which of its savers would work best for you.
-
Halifax savings rates review, from savings accounts to ISAs
Whatever you’re saving for, find the right Halifax savings account for you. Our detailed guide walks you through which of Halifax’s savings accounts is for you.
-
Bank of Scotland savings accounts
However much you’re looking to save, take a peek at the Bank of Scotland’s savings options. Our guide gives you a detailed breakdown of the accounts on offer.
-
Tesco Bank savings rates
Learn about the savings options at Tesco Bank, from ISAs to fixed rate savings. We highlight Tesco Bank savings accounts’ features and pros and cons.
-
Marcus savings accounts
Goldman Sachs has launched its savings bank Marcus in the UK. Our review covers the features of its easy-access savings account vs the competition.
-
Nationwide savings account rates compared
Nationwide’s savings account options explained. Whether you’re happy to tie up your money or need instant access, we’ve covered the options.
-
Paragon savings accounts review
Our guide to the savings accounts available from Paragon bank.