FIXED RATE BOND
FAMILY BUILDING SOCIETY FIXED RATE BOND
2
FIXED RATE BOND
GLOSSARY OF TERMS
This aim of this glossary is to provide you with a clearer understanding of the
language used within our savings literature.
For more information on terms please refer to our A to Z jargon buster at
familybuildingsociety.co.uk/savings-jargon-buster
Access charge – This is a charge that is sometimes
applied, usually if you need earlier access to
your money than permitted within the terms and
conditions of certain savings accounts.
Annual Equivalent Rate (AER) – This is used to
show you what you would earn in interest from your
savings over a year as a percentage. The AER always
assumes any interest earned from your savings is
compounded.
Annual interest – This is when interest on your
savings is paid yearly.
Compound interest – This is interest that is applied
to interest previously added to your savings. For
example, if you put £1,000 in your savings account at
an annual interest rate of 4.0% AER, you would earn
£40.00 after one year. In the second year, you would
then earn interest on £1,040, earning £41.60 (4.0%
AER of £1,040.00), taking your total to £1,081.60.
Deposit – This is any payment into your savings
account. Please refer to your savings account’s
Summary Box flyer and within this Product Features
leaflet for more information on how to make
payments into your accounts.
Fixed interest rate – When the interest rate for a
savings account stays the same for a set period of time.
Fixed Term Bond – A savings account that holds
your money for a set period known as a term. No
withdrawals can be made until the end of the term.
These accounts are best suited to customers that
won’t need to access their money and don’t need
the flexibility of an easy access account or a notice
savings account.
Gross interest rate – The amount of interest you’ll
get on your savings before paying any tax.
Initial deposit – This is the first payment made into
your savings account. Additional deposit rules vary
depending on the savings account you hold with us.
Please refer to your savings account’s Summary Box
flyer and within this Product Features leaflet for more
information.
Interest rate – This is how much you will earn on
your savings as a percentage amount.
Investment – The amount of money that is placed
into a savings account.
Joint account – A savings account shared by two or
more individuals.
Market Tracker Saver – A Family Building Society
easy access savings account that pays an average of
the 20 highest gross annual variable interest rates
paid in the taxable immediate access market (for
an investment of £10,000) from a reference group.
For more information please refer to our website at
familybuildingsociety.co.uk/tracker
Maturity – When your fixed rate bond term ends,
your money ‘matures’ and you get access to it. This is
known as maturity. On the maturity date your bond
becomes available for reinvestment or withdrawal.
The date of maturity is show on your Savings
Account Certificate.
FAMILY BUILDING SOCIETY FIXED RATE BOND
3
Monthly interest – This is when interest on your
savings is paid monthly.
Nominated bank account – This is the current
account that you link to your savings account with
us. All nominated accounts must be UK accounts,
named in sterling (£) and must be in your name
(if the account is a joint account the nominated
bank account may be in the name of either
account holder).
Online Service – Our easy to use online banking
system allows you to view and manage most of
your savings accounts anytime and anywhere.
You can also send and receive secure messages,
update your personal details, and apply for many
of our savings accounts without a paper application
form. To find out more or to register, please visit
familybuildingsociety.co.uk/new-online
Personal Savings Allowance – The total amount of
interest you can earn each tax year across all of your
bank accounts (excluding ISAs) without paying any
tax. For more information on your PSA please refer
to gov.uk/apply-tax-free-interest-on-savings
Power of Attorney – A legal document which lets
you give permission to one or more people (known as
‘attorneys’) to help you make decisions or make them
on your behalf.
Savings Account Certificate – This is sent to you
after you have opened your savings account with
us. It contains your account information and is
confirmation of your initial deposit.
Summary Box flyer – This is a summary of the key
features of your savings account. This is included
within the product pack along with a Product
Features leaflet and the General Conditions for our
Savings Accounts booklet.
Tax year – The period over which taxes and benefits
are calculated. The year used by the Government
for calculating personal taxes is 6 April to 5 April
the following year. Other organisations, such as
companies, may use dierent periods for their
tax year.
Tiered interest rate – This means that interest rate
will depend on the value of the funds held in your
savings account. Normally, the higher the balance,
the higher the interest rate.
Term – The amount of time you choose to lock your
money away for i.e. 1 year.
Withdrawal – When you remove money from your
savings account. In the case of fixed term bonds,
withdrawals are only allowed on the maturity date
shown on your Savings Account Certificate (or the
next working day, if maturity falls on a weekend or
Bank Holiday). Please refer to your savings account’s
Summary Box flyer and within this Product Features
leaflet for more information on how to make
withdrawals from your account.
HOW TO CONTACT US
New Business Team: 03330 140141;
familybuildingsociety.co.uk;
Ebbisham House, 30 Church Street,
Epsom, Surrey KT17 4NL
Once your account is opened, if you need
to contact us:
03330 140144;
FAMILY BUILDING SOCIETY | FIXED RATE BOND
4
FIXED RATE BOND
IN THIS PRODUCT FEATURES LEAFLET WE’VE SET OUT THE FEATURES AND
BENEFITS OF OUR FIXED RATE BOND SO THAT YOU CAN DECIDE WHETHER
OR NOT THE ACCOUNT IS SUITABLE FOR YOU.
IN SUMMARY
If you’re looking to save money for a
set amount of time and want the certainty
of a fixed interest rate, then the Fixed Rate
Bond could be right for you.
Other key features:
— You may be able to apply either online,
by post, or at our Epsom branch. The way
you can apply is dependent upon each
specific issue
— Save up to £250,000
— Additions are allowed for 15 calendar days
after account opening
— Interest paid annually on 30 June and on
maturity and added to the account or to a
pre-nominated account in your name
— No partial withdrawals or closure prior to
maturity.
This account would be right
for you if you’d like:
— A fixed interest rate
— An annual or monthly interest payment
option
— The account to automatically reinvest
into another Fixed Rate Bond or Market
Tracker Saver when it matures
— To save a lump sum and won’t need access
to your savings for fixed amount of time.
This account wouldn’t be right
for you if you’d like:
— A variable interest rate
— To withdraw funds prior to maturity
— Easy access to your savings
— To add to your savings regularly
— A tax-free savings account.
FAMILY BUILDING SOCIETY | FIXED RATE BOND
5
The Fixed Rate Bond gives you the certainty
of a fixed interest rate along with security of
your capital. The interest rate earned is fixed
throughout the Bond’s term, which is chosen by
you from those available when the account is
opened.
FIXED RATE BOND – HOW IT WORKS
If you’re looking for a guaranteed interest rate, and don’t mind locking your money
away for a period of time, then the Fixed Rate Bond may be a suitable option for you.
The Financial Conduct Authority is a financial services regulator. It requires us, Family Building Society,
to give you this information to help you to decide whether our Fixed Rate Bond is right for you. You
should read this leaflet carefully so that you understand the key product features for this account, and
then keep it safe for future reference.
For details of all our savings accounts please call our New Business Team on 03330 140141 or visit
familybuildingsociety.co.uk/savings
Before completing the application form, you should also read the accompanying Summary
Box flyer and General Conditions for our savings accounts which are separate documents.
Please get in touch if you have any questions.
FAMILY BUILDING SOCIETY | FIXED RATE BOND
6
FIXED RATE BOND
APPLYING FOR AN
ACCOUNT
You may be able to apply for a Fixed Rate Bond
either online, by post, or at our Epsom Branch.
The way you can apply is dependent on the
specific issue available. Please check the Summary
Box flyer for application details.
After opening your account you have 15 calendar
days to add additional money to the account.
After this period, no further additions are allowed.
Who can open this account?
You can open an account as an
individual, jointly, as a trustee on behalf
of an individual (e.g. as a parent on
behalf of a child) or as an Attorney.
You must also be ordinarily resident
in the UK for tax purposes.
What do you need to do?
Your Fixed Rate Bond will be opened
when we receive your:
— fully completed Fixed Rate Bond
application form;
— investment (maximum £250,000 per
account);
— evidence of identity (if required);
— details of the bank account to which
you would like the interest and maturity
funds to be sent.
You can open an account by debit card (online
only), by transfer from your bank account, by
cheque, by transfer from another savings account
with us (subject to normal withdrawal terms of
the paying account) or by cash (Epsom branch
only). As ways of opening some accounts may be
dierent, please check the relevant Summary Box
flyer for full details.
If you’re opening your account by cheque please
make it payable to “Family Building Society”,
followed by your name.
Unless you’re an existing customer, we will require
at least one cheque to be drawn against your own
personal bank account to allow the new account to
be opened. If you are unable to provide a personal
cheque and your funds are to be drawn from
another bank or building society account please
contact our New Business Team to discuss the
circumstances before you apply.
We will need to register the bank account into
which interest payments and/or maturity funds
should be made. If you are opening the Fixed Rate
Bond with a cheque from this account then we
require no further documentation. However, if this
isn’t the case, we will need a paying-in slip or cheque
crossed “cancelled” showing your name, sort code
and account number, or an original bank statement.
Power of Attorney
Power of Attorney applications can be downloaded
from our website by visiting familybuildingsociety.
co.uk/savings-forms. It can also be requested over
the phone and sent to you by post or obtained from
our Epsom branch.
The opening deposit can be made by debit card,
by transfer from your bank account, by cheque,
by transfer from another savings account with us
(subject to normal withdrawal terms of the paying
account) or by cash. Once the account is opened,
Attorneys can register for our Online Service and
view the account online.
Please contact the Family Service Team on
03330 140144 for more details.
Account records
When your Fixed Rate Bond account has been
opened, we’ll send you a Savings Account
Certificate as confirmation of your initial deposit.
FAMILY BUILDING SOCIETY | FIXED RATE BOND
7
The Certificate should be kept in a safe place,
along with this leaflet and the General Conditions
for our Savings Accounts booklet, as your record
of your account.
In order for you to be kept up to date with
information, we ask that you let us know as soon
as possible of any changes to your name, address,
telephone number or email address.
IDENTIFICATION
REQUIREMENTS
We are required by law to verify the name and
address of all new members.
New members
To check your identity we will carry out searches on
you at a credit reference agency that will supply us
with information, including details from the Electoral
Register. The searches will not be seen or used by
lenders to assess your ability to obtain credit.
If we are unable to verify your identity by this
method we will be unable to open your account
until we receive further identification. In this
instance we will advise you of the additional
documentation required.
Existing members
If you are opening a new account via our Online
Service, we’ll check your identity again using a search
about you at a credit reference agency that will
supply us with information, including details from the
Electoral Register. The searches will not be seen or
used by lenders to assess your ability to obtain credit.
If you are applying for an account by post or in
person at our Epsom branch, you will not need to
provide further evidence of your identity if you
already have an open savings or mortgage account
with us, your signature matches our records, and
your name and address haven’t changed.
FAMILY BUILDING SOCIETY | FIXED RATE BOND
8
FIXED RATE BOND
ADDING TO YOUR
SAVINGS
Additions are allowed for 15
calendar days after the account is opened.
After this period no further additions are
allowed.
By debit card
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. If you
open your account online, registration is part
of the account opening process and you can
add by debit card straight away.
If you are not already a user of our Online
Service, you can register via our website once
you have received your Certificate, by visiting
familybuildingsociety.co.uk/new-online.
After you have registered, we will send you a
verification code. For security reasons this is
sent by email or by post, and you will need this
code for your first login.
Please note that the debit card you use to
deposit money into your Fixed Rate Cash ISA
must be registered to the residential address
we hold for you.
By transfer from your bank account
To send additional savings directly from your
bank or building society account, the banking
details you will need for us are:
— Payee: Family Building Society
— Payee’s bank sort code: 40-02-50
— Payee’s bank account number: 21397400
— Payee’s reference: Your 10 digit Fixed Rate
Cash ISA account number.
By cheque
You can send us a cheque for your additional
savings through the post. Cheques should be
made payable to “Family Building Society”
followed by your account number.
By transfer from another account with us
If you have another savings account with us
you may transfer some or all of your savings
to the Fixed Rate Bond (subject to normal
withdrawal terms of the paying account).
Availability of funds paid in
Please check Section 9 of the General
Conditions for our Savings Accounts booklet
for more information about when money paid
in becomes available for withdrawal or transfer.
FAMILY BUILDING SOCIETY | FIXED RATE BOND
9
EARLY WITHDRAWAL
AND CLOSURE
Partial withdrawals (including the withdrawal of
interest) and closure are not permitted during the
fixed rate term before the maturity (see ‘Maturity’
below). This means that the Fixed Rate Bond is
only suitable if you won’t need access to the money
invested or the interest earned during the term.
MATURIT Y
Your Fixed Rate Bond becomes available
for reinvestment or withdrawal on the
maturity date shown on your Certificate (or the
next working day, if maturity falls on a weekend
or Bank Holiday).
We will write to you no later than 15 calendar days
before maturity with details of the default and
alternative products available for reinvestment.
Automatic reinvestment into a new Fixed Rate
Bond will occur when the duration of the new
Fixed Rate Bond is similar to or shorter than that
of your maturing Fixed Rate Bond and the access
terms are no more restrictive. If a new Fixed Rate
Bond meeting these criteria is not available when
we write to you, then your maturing Fixed Rate
Bond will be reinvested instead into the latest issue
of our Market Tracker Saver account, which is a
variable rate, easy access account, with no access
charge for withdrawals.
No action will be required to accept the automatic
reinvestment and you will have 30 calendar
days after the new account is opened in which
to cancel and select an alternative product, or
withdraw your investment without an access
charge, after which you will be bound by the
terms of the new account.
If you plan to be away from home for an extended
period around the maturity date of your Fixed
Rate Bond, we will be happy to accept instructions
for reinvestment or withdrawal in advance but
in these circumstances we may not be able to
guarantee the availability of particular products at
the maturity date of your Fixed Rate Bond.
If you decide to withdraw funds at maturity, these
will be repaid by transfer to your bank account.
Your payment will reach the other bank or building
society no later than the end of the working day,
after the day the maturity is processed.
If the cheque used to open your Fixed Rate
Bond was not drawn against the account that
the matured funds will be repaid to, then please
send us an original statement for the nominated
account, issued within the last three months and
showing your full name.
Please note that the fixed rate earned on a
Fixed Rate Bond is paid up to but not including
the day of maturity.
Withdrawals by cash or cheque are not available.
INTEREST
Interest will be calculated on a daily basis
with your savings earning interest from the date
of account opening up to, but not including, the
day of maturity.
Interest will be added to the account on 30 June
each year and on maturity, and will be available
from the following day. If you prefer, your interest
can be paid by transfer to your bank account or by
transfer to another account with us.
Monthly interest payments are available at a
reduced interest rate, but must be paid to another
bank or building society account in your name and
cannot be added to the Fixed Rate Bond.
Should you wish to change your interest payment
instructions we must receive these in writing by
1 June in order to be eective from 1 July.
FAMILY BUILDING SOCIETY | FIXED RATE BOND
10
FIXED RATE BOND
ACCOUNT TERMS
We reserve the right to withdraw this
account or to change the interest rate available
for new accounts at any time and without prior
notice. The full terms of this account comprise
the details set out in this Product Features leaflet
and in the separate General Conditions for our
Savings Accounts booklet.
TREATING CUSTOMERS
FA I R LY
We are committed to treating our members fairly,
and it’s central to everything we do. As part of our
commitment to treating you fairly we will provide
information on our products and processes that is
clear and easy to understand. If you have a query
or need our help and support, we will respond to
your needs and treat them sensitively and flexibly.
If you have any questions, or need any help with
applying for a product or managing your account,
please contact us using the information at the end
of this leaflet.
COMPLAINTS
We always try to provide a first-class
service. Occasionally however, things can go
wrong. If they do, we’ll try to put them right.
If you have a complaint you should contact us
and we will endeavour to resolve the matter
quickly and satisfactorily. In the first instance
contact should be made by phone or in writing
to our Family Service Team at our Principal
Oce. A leaflet detailing how we deal with
complaints is available on request from our Family
Service Team, our Epsom branch or our website
familybuildingsociety.co.uk/complaints
If we do not resolve your complaint internally to
your satisfaction, you may be able to refer it to the
Financial Ombudsman Service. The service was
set up by Parliament and is free for customers to
use. They will look at the facts of what’s happened
in a dispute between customers and financial firms.
They may decide that a firm has dealt with
a complaint fairly and will explain why to the
customer or they may decide that the firm
has done something wrong and they will then
tell the firm to put things right. A copy of the
explanatory leaflet published by the Financial
Ombudsman Service is available on request or
further information is available on their website
financial-ombudsman.org.uk
FINANCIAL SERVICES
COMPENSATION
SCHEME
Eligible deposits with the Society are protected
by the Financial Services Compensation Scheme
(FSCS).
This savings product is covered by the FSCS.
SFBSMKTG
familybuildingsociety.co.uk
03330 140141
newbusiness@familybsoc.co.uk
EBBISHAM HOUSE
CHURCH STREET
EPSOM
SURREY
KT NL
Family Building Society is a trading name of
National Counties Building Society which is
authorised by the Prudential Regulation Authority
and regulated by the Financial Conduct Authority
and the Prudential Regulation Authority.
Firm Reference No.206080
register.fca.org.uk
If you need this document in an alternative format please call our New Business Team on 03330 140141.
To find out more, please contact our New Business Team:
