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Scottish Friendly Bond Maturing Soon

Chiaroscuro
Chiaroscuro Posts: 48 Forumite
in Savings & investments
Hi

Does anyone know if Scottish Friendly are currently paying the terminal bonus on their friendly bonds?

I have one which is due to mature in July. I recently asked them for an estimate of how much this would be, but they told me it was too close to the end of the policy to be able to say.

I have to admit I'm pretty clueless about this sort of thing so was wondering if anyone has had a bond mature recently.

Thanks.

C

PS I've read the older threads about how rubbish bonds are, but I took it out 10 years ago when I was even more clueless than I am now about money. ;)
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Comments

  • dunstonh
    dunstonh Posts: 119,533 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    PS I've read the older threads about how rubbish bonds are,

    What bonds?

    investment bonds
    fixed term deposits (often misnamed fixed interest bonds)
    corporate bonds
    guaranteed equity bonds
    brooke bond
    james bond ....
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • Chiaroscuro
    Chiaroscuro Posts: 48 Forumite
    :D Blind me with technical terms would you?

    Sorry.

    It's the 'Scottish Bond' - the 'with profits' one for tax free saving.
  • fatpig_2
    fatpig_2 Posts: 631 Forumite
    Is it the rip-off tax- free type that you can only pay £25 per month into?

    If it is, you'll be lucky to get back what you put in once they've taken all the charges off
  • Stewster
    Stewster Posts: 96 Forumite
    fatpig wrote: »
    Is it the rip-off tax- free type that you can only pay £25 per month into?

    If it is, you'll be lucky to get back what you put in once they've taken all the charges off

    Hmmm. Guess I was lucky then ! I had one that matured last August that I had been paying the annual lumpsum into (believe this was approx £220) and I made over £1k profit. Certainly not a rip off in my book. Yes you can have better performing investments as is pointed out by other posters on this site - you can do a lot worse though ! No idea what the terminal bonus is like now though of course.
    "A weak currency arises from a weak economy, which in turn is the result of a weak government" - Gordon Brown 1992 -
  • fatpig_2
    fatpig_2 Posts: 631 Forumite
    If you'd had a different investment vehicle with the same underlying investments you'd probably have made £2K profit instead of only £1K
  • Stewster
    Stewster Posts: 96 Forumite
    fatpig wrote: »
    If you'd had a different investment vehicle with the same underlying investments you'd probably have made £2K profit instead of only £1K

    And how do you know that I haven't got other investments ? Indeed I could have possibly made a higher return but I was happy with 1k on that particular product.
    "A weak currency arises from a weak economy, which in turn is the result of a weak government" - Gordon Brown 1992 -
  • fatpig_2
    fatpig_2 Posts: 631 Forumite
    So you'd rather have £1K profit from an investment rather than £2K?!?!? You need to seriously re-evaluate your investment strategy
  • Chiaroscuro
    Chiaroscuro Posts: 48 Forumite
    Stewster wrote: »
    Hmmm. Guess I was lucky then ! I had one that matured last August that I had been paying the annual lumpsum into (believe this was approx £220) and I made over £1k profit. Certainly not a rip off in my book. Yes you can have better performing investments as is pointed out by other posters on this site - you can do a lot worse though ! No idea what the terminal bonus is like now though of course.
    So I'm stuck somewhere between despondency if I go with fatpig's answer and and elation if I go with yours. ;)

    Thanks for your answers - the yearly bonuses have always kept me over what I've invested so far, but the terminal bonus, if it's still being paid, would make quite a difference which is I why I was curious to know.

    I suppose I'll just have to wait for them to tell me, and do the old expect the worst and hope for the best thing.
  • dunstonh
    dunstonh Posts: 119,533 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    I see, Its a misnamed product that isnt a bond but a friendly society tax free plan. aka. waste of space product pretending to be tax free but any tiny benefit is wiped on in charges.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • opinions4u
    opinions4u Posts: 19,411 Forumite
    Chiaroscuro wrote: »
    Sorry.

    It's the 'Scottish Bond' - the 'with profits' one for tax free saving.

    Is the Scottish Bond the one that lives in a tax free exile, many thousands of mile away from Scotland?

    <innocent look>
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