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Scottish Friendly Child Bond - Savings Account
(Which Way To Pay - 3/9/2015)
The Scottish Friendly Child Bond enables you to invest tax efficiently for your child, using their tax-free allowance. If you child is under the age of 16 years old when you take out the bond for them, you can choose to have the lump sum paid to the child after 10 years (the minimum duration) or when they are 18 years old or 21 years old. What you must commit to is to agree to pay £25 for the life of the bond (minimum of 10 years).

The money belongs to the child as soon as you you have invested the money. 
If you circumstances change, or indeed if your child’s circumstances change, you may be forced to cash in the Child Bond early. If this is the case, the child may not get back as must as you paid into the bond in the first place. This is particularly true in the early years when the child will get nothing back if you cash in the bond within the first 23 months. Although unforeseeable circumstances occur, this is something you should try to bear in mind when you take out this bond.

The great thing about this savings account is you are able to provide your child with a lump sum at the end of the bond life – it is a tax-free with-profits plan which you should take advantage of.

Scottish Friendly Child Bond is ranked 4 out of 5. Based on 1 review.

4 Star Rating        
1 Star: 1 Star RatingPoor
In relation to other products, has performed badly and has little or no worthwhile benefits.
2 Stars: 2 Star RatingBelow Average
Has some features of value, but in comparison to others performs below standard.
3 Stars: 3 Star RatingAverage
A fair product with regards to its competitors - has no outstanding features or benefits.
4 Stars: 4 Star RatingGood
In comparison to other products performs above standard, has beneficial features.
5 Stars: 5 Star RatingExcellent
Performs well above standard in comparison, has exceptional features and benefits.

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Scottish Friendly Child Bond
Scottish Friendly Child Bond