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Having searched the internet I came across 'Scottish Friendly' an assurance company. They offer a saving plan called the Scottish Bond, which makes the most of your personal tax free allowance; obviously you can only save up to £25 a month.
It runs for a 10 year term and also provides ... Read review
Advantages: Tax free savings,Life cover,chice of low payments,Great service and very easy Disadvantages: n/a.You need to check the payout forecast
...a saving plan called the Scottish Bond, which makes the most of your personal tax free allowance; obviously you can only save up to £25 a month.
It runs for a 10 year term and also provides some life cover for my monthly payment it gives £2600 in addition to the final payout, just in case anything should happen.
You can save less than the £25 but I chose this as I new I would not notice it each month and I am really ... ...If you prefer to pay in a larger amount you can pay an annual payment, but again this can not exceed the equivalent of £25 a month (£300 pa).
They offer a free gift once you have paid your first month's premium. I chose £15 M & S vouchers as they are always nice to spend. The plan is meant to be kept for 10 years and although you can take out your money you might not get back the amount you have paid in.
It is so easy to join ... more
For a while now I had been looking to put a small amount of money away each month. I found out that the Government lets you invest up to £25 a month with a friendly society and that this can be done without paying any tax, even when you get the final payout there is not tax to pay.
Having searched the internet I came across 'Scottish Friendly' an assurance company. They offer a saving plan called the Scottish Bond, which makes the most of your personal tax free allowance; obviously you can only save up to £25 a month.
It runs for a 10 year term and also provides some life cover for my monthly payment it gives £2600 in addition to the final payout, just in case anything should happen.
You can save less than the £25 but I chose this as I new I would not notice it each month and I am really looking forward to a nice lump sum in 9 years. If you prefer to pay in a larger amount you can pay an annual payment, but again this can not exceed the equivalent of £25 a month (£300 pa).
They offer a free gift once you have paid your first month's premium. I chose £15 M & S vouchers as they are always nice to spend. The plan is meant to be kept for 10 years and although you can take out your money you might not get back the amount you have paid in. It is so easy to join and they send you a pack with all the information and projections of what you might get back. You have 30 days to look at the possible payouts and conditions and if you are not happy with these you can cancel with no charges or losses.
There are lots of other savings ideas on their website, which also seem very good. They have a money builder product, which is good if you would like to save more per month. All in all it is a great way to save a little each month and then look forward to a lump sum.
