Scottish Friendly Child Bond Review.

Scottish Friendly, one of the UK's leading friendly societies, provides savings plans that allow customers to make the most of their tax-free allowance. Scottish Friendly prides itself on maintaining some of the lowest renewal costs of life companies in the UK and aims to deliver value to its members. By saving from just £10 to £25 a month with Scottish Friendly's Child Bond now, you could make all the difference when they're older. For instance, helping to pay for university fees or for the deposit on a first home. The Child Bond isn't just for parents to invest in. Whether you're a grandparent or an aunty, you can take out a Child Bond for any child you care about. The Child Bond is a with-profits investment which runs for a minimum of 10 years and offers two valuable tax benefits: The money invested will grow free of income tax and capital gains tax under current law through the addition of potential annual bonuses. Although bonuses are not guaranteed, once added, they cannot be taken away, provided you keep up payments for the full term. When the bond matures, your child will receive a guaranteed minimum cash sum, which protects part of the total amount invested. The value of the guaranteed sum is based on the term of the plan and how much is paid in. You can save between £10 and £25 a month or between £120 and £270 a year.

Scottish Friendly is a member of the Association of Friendly Societies (AFS), the trade body that promotes the uniqueness and real financial benefits of friendly societies in the UK. The AFS has around 50 members who between them manage the savings and protection needs of nearly 6 million people, and have total funds under management of £16 billion.