Freedom From BigBrother Now!

Kids grow so quickly which means it is critical to start thinking about saving when they’re young. By saving from just £10 to £25 a month with Scottish Friendly’s child bond immediately you could help them when they are older. For instance helping to pay for university fees or to find the money for a new car.

You can save tax-free for any child with a Scottish Friendly Child Bond. It’s tax-free as it’s a friendly society savings plan, which means that under current law it grows free of income or capital gains tax. It is a good way for parents, grandparents, family members and friends to make a significant financial difference when the kids are older.

The Child Bond is a with-profits investment plan: It invests for long-term growth as well as an element of security, in stocks and shares, fixed interest funds and cash

Money accumulates by way of the addition of potential yearly bonuses and when the bond reaches maturity there’s a tax-free payout. The value of bonuses is dependent on how much profit we make and how it is distributed by us. Bonuses are not guaranteed.

The Child Bond lasts for a minimum of 10 years, but if you want you can invest for longer if 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. It should be noted that if the plan is cashed in before the end of the term, the amount the child will get back may be less than the amount paid in.

If you opt for 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 yearly payments of up to £270 a year.

You can also take care of all of the premiums in one go through our lump sum funding plan. If you invest the maximum sum of £2,340 for a 10 year period, this actually invests £270 a year into the Child Bond - making £2700. The minimum lump sum of £1,040 will provide £120 a year for 10 years - a total of £1,200. This provides a means for you to pay all your premiums in one go and is especially popular with grandparents who like the reassurance of knowing all premiums for the entire term of the plan are taken care of.

This plan includes life cover so you should consider if this is suitable for your financial needs.