Savings Interest Rates, Switch Offers and Guides for Family Building Society

Who they are

Family Building Society is a trading name of National Counties Building Society, based in Epsom, Surrey. The underlying society was originally incorporated in 1896 and has been looking after savers ever since. The Family Building Society brand itself launched on 14 July 2014. It concentrates on products and services designed to enable members of a family to provide mutual assistance, particularly parents who want to help their children.

It is a mutual building society, owned and run for the benefit of its savings and mortgage members. National Counties is the UK's 11th largest building society, with over £2.2bn of assets. Because Family Building Society and National Counties share a banking licence, your FSCS protection applies across both brands together. Eligible deposits are protected up to £120,000 by the FSCS - but that limit covers the total of any deposits you hold across Family Building Society and National Counties Building Society combined. Anything above that threshold is unlikely to be covered.

Savings accounts

Family Building Society keeps its savings range focused but thoughtful. The Online Saver is the headline easy-access option, paying 3.15% AER on a minimum of £100, with withdrawals capped at £25,000 per day. It is variable rate, so the figure can move at any time.

The Market Tracker Saver is the product that really sets this society apart. At 3.93% AER with a £1 minimum, it is designed to track the average of the top 20 easy-access rates in the market as measured by Moneyfacts, reviewed quarterly - so you are not relying on the society to do the right thing each time rates shift. There is a cap of 20 withdrawals per year to be aware of.

For ISA savers, the Market Tracker Cash ISA pays 3.98% AER - that is the Market Tracker Saver rate plus a standing 0.05% premium - with unlimited access and a £1 minimum. The tracker structure means this ISA should stay reasonably competitive without you having to chase the market every few months.

Families saving for children can also open the Junior Cash ISA at 3.70% AER from just £1. The money is locked until the child turns 18, and the rate is variable. FSCS protection on all accounts is up to £120,000, subject to the shared-licence point above.

Is it right for you?

Family Building Society suits savers who want something a little different from a standard rate that can be quietly cut when attention drifts elsewhere. The Market Tracker products give a degree of built-in accountability - if the market moves, the rate is supposed to follow. Staff are widely praised for being friendly, patient, and knowledgeable, and customers frequently mention being able to speak with actual people who are there to help. The trade-off is that the digital experience is more basic than a fintech - there is no dedicated app, and phone wait times can be long during busy periods.

There are no current switch offers. If the tracker concept appeals and you are comfortable managing your account through a browser rather than an app, it is well worth comparing the live rates shown on this page against the rest of the market before you decide.