Easy access
The Family Building Society: Savings accounts overview
Family Building Society offers a broad range of savings accounts with interest rates up to 4.37%.
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 4.37% is available on one of its easy access accounts.
Easy access savings accounts
Table: sorted by interest rate
Family Building Society's best easy access rate of 4.37% is significantly lower than today's market-best rate of 6.89%.
1 - 5 of 6
Compare other products
We currently don't have that product, but here are others to consider:
How we picked theseCash ISAs
Table: sorted by interest rate
Family Building Society's best cash ISA rate of 4.37% is lower than today's market-best rate of 5.71%.
1 - 5 of 7
Compare other products
We currently don't have that product, but here are others to consider:
How we picked theseFixed-rate bonds
Table: sorted by interest rate
Family Building Society's best fixed-rate bond rate of 4% is slightly lower than today's market-best rate of 4.65%.
1 - 5 of 8
Compare other products
We currently don't have that product, but here are others to consider:
How we picked theseNotice savings accounts
Table: sorted by interest rate
Family Building Society's best notice savings account rate of 3.55% is lower than today's market-best rate of 4.85%.
1 - 3 of 3
Compare other products
We currently don't have that product, but here are others to consider:
How we picked these
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 | 4.37% |
| Best cash ISA rate | 4.37% |
| Best fixed-rate bond rate | 4% |
| Best notice account rate | 3.55% |
| 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
-
Working from home statistics: How many people work from home?
Our research found that 41% of Brits work from home at least some of the time as of September 2024. We look at who is working from home and how working from home affects productivity.
-
What is the average savings interest rate in the UK?
High inflation could be making your savings accounts lose value in “real terms”. We look at historical savings versus inflation rates.
-
Zopa savings account review
Compare Zopa’s savings accounts, including interest rates and accessibility.
-
Best savings accounts for April 2025
Find out more about the different types of savings accounts on offer.
-
How much money should I have in savings?
See how much money people your age have in savings, and learn how to boost your savings balance if it’s below average.
-
Compare savings accounts with compound interest
We look at the definition of compound interest, what it concretely means and how you can use it to grow your savings more quickly.
-
Is it safe to use a debit card online in the UK?
It’s a straightforward and convenient process, but paying with a credit card may be safer.
-
Compare the best notice savings accounts UK 2025
What if you could get both great interest rates and access to your money? We’re not quite there yet, but notice savings accounts come close.
-
Raisin UK review
Raisin UK is a marketplace for savings accounts. Our review looks at how the platform works, as well as its pros and cons.
-
Compare high interest & high yield savings accounts
Kickstart your savings plan with a high interest savings account.