Save with Us for a Smooth Steady Growth
Children grow up fast which means it is essential to look at saving when they’re young. By saving from just £10 to £25 a month with Scottish Friendly’s Child Bond without delay you could give them assistance that will help them when they are older. For example helping to pay for university fees or making a payment to secure a flat.
You can invest in a tax-free savings plan for any child with a Scottish Friendly Child Bond. It’s tax-free since it’s a friendly society savings plan, which means that under present fiscal law it grows free of income or capital gains tax. There can be no doubting that an ideal way for parents, grandparents, family members and friends to make a big financial difference when the kids are older.
Basically the Child Bond is a with-profits investment plan: It invests for long-term growth as well as a degree of security, in stocks and shares, fixed interest funds and cash.
Money accumulates by way of the addition of potential annual bonuses and at the point where the bond reaches maturity there is a tax-free payout. The value of bonuses is dependent on how much profit we make and how the distribution is made.
Bonuses are not guaranteed.
The Child Bond can last for a minimum of a decade, but it is permissible to invest for longer should you like – perhaps to coincide with an 18th or 21st birthday. You can save either monthly, annually or with a lump sum payment.It really is entirely up to you. Please note if the plan is cashed in at a point prior to the end of the term, the amount the child will get back may be less than the amount paid in.
If you would like the monthly option, you can begin saving from as little as £10 a month – up to a maximum of £25 a month. Or you can make annual payments of up to £270 a year.
You can also make all of the premiums in one go through our lump sum funding plan. If you invest the maximum permitted sum of £2,340 for a 10 year period, this actually invests £270 a year into the Child Bond – a total of two thousand seven hundred pounds. The minimum lump sum of £1,040 yields £120 a year for 10 years – a total of £1,200. This provides a means for you to take care of all your premiums at a stroke and is extremely popular with grandparents who like the reassurance of knowing all premiums for the complete term of the plan are taken care of.
life cover is inluded with this plan, so you should consider if this is fitting for your financial needs.
