Did you know you can save £25 a month tax-free? Posted by FriendlySocietySavings on March 13th, 2008

With a Friendly Society savings plan you save your money in a special fund that allows your savings to grow tax-free. This is in addition to an I.S.A. giving you extra tax-free savings.

The most you can save in this fund is £25 a month or £270 a year, the minimum term is ten years. When you start saving your plan will have an amount that is guaranteed and as long as you make all of your payments you are guaranteed to get that amount back.

Click here to start saving and to claim your free gift

How much could I get back?

It’s difficult to predict how much you could get back from saving with a Scottish Bond but we can look at how much someone saving £25 per month for the last ten years would get back today if their plan was maturing. Although past performance is not a guide to future performance.

Building society: £3301 - 1.9%(1) pa, Scottish Friendly: £3927 - 5.3%(2)

If a person aged 29 ten years ago had taken out a Scottish Bond 10 years ago their savings would have grown to £3,927 compared to £3,301 if they had saved the money with a Building Society.

Who can Save?

Children can also have Friendly Society savings plans, parents or grandparents can take out these plans and use a plan to give the child a nest egg. Sometimes these plans are known as a Child Bond or Baby Bond.

So a family of four could have four Friendly Society Savings plans and be saving £100 a month tax-free.

How do I start Saving?

If you start saving with a Scottish Friendly Society Scottish Bond you will receive either a £15 M&S gift voucher or a £15 High Street voucher. You will receive a £10 Book Voucher when you start saving with a Child Bond.

Just click here to start saving.

Comments are closed.

 

CSS Template by Rambling Soul | Free WordPress Theme by Theme Lab