Family Building Society launches two-year fixed savings account that tracks the base rate

MSE_Ben_T

Family Building Society has unveiled a two-year fixed savings account that tracks the base rate. The launch comes as the market braces for further interest rate rises from the Bank of England as the central bank attempts to curb rising inflation. 

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        Family Building Society launches two-year fixed savings account that tracks the base rate – here's how it works and how it compares

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Albermarle

It is not a bad offer, but it is quite possible in two years time the base rate might have dropped right down again.
Probably better to have a conventional two year deal starting in the early part of next year, but we will only what is best with hindsight.

Notepad_Phil

Is it base rate plus something or just base rate?

I actually took out a 5 year tracker with them just over 4 years ago, but it was something like 1.5% + base rate so even during the 0.1 and 0.25% times it wasn't the worst of accounts to be in.

Edit -----

It seems it's 0.85% plus base rate, so maybe worth considering for a small portion of my savings.

Daliah

2.25% + 0.85% = 3.1%. Best 2 yr account without tracking 4.33% right now. I wouldn't be tempted by either atm.

Thumbs_Up

Nice juicy bait, tempting. When I had mortgage tracker it was base rate + 0.25 and served me well.

Who’s not to say Andrew Bailey appears on tv next week to announce a 1% increase in base rates.

Of course a gamble and pure speculation doesn’t fit in well with savers who want the best returns for their money.   

 

Black_Cat2

Thought I'd give it a go.  Been a mare so far.  Want proof sent and looks like you need to get copy docs witnessed if not sending originals (don't want to send my passport) so awaiting a letter.  Anyone else tried to open an account? 🐈

soulsaver

Opened no prob for me.

artyboy

It would be very nice if more of these trackers make a comeback - I did very well in the past with them, using the headroom in my lifetime tracker mortgage. 

averageguy11

Happy to use this account as part of an overall ‘portfolio’