Choose a type of savings account to compare from the list below

Compare tax exempt savings

	Product Name	Description
	Scottish Friendly Scottish Friendly Scottish Bond	Start a regular savings habit using your tax-free savings allowance. Invest £25 a month for 10 years All investments will pay out free of any taxes after 10 years and you get a guaranteed minimum cash sum after 10 years Your guaranteed minimum cash sum can grow through the addition of regular bonuses To apply, you need to be a UK resident aged between 16 and 55. Choose either a £25 Marks & Spencer voucher or a £25 High Street voucher when you start saving.	MORE INFO
	Scottish Friendly Scottish Friendly MiBond	Start a regular savings habit using your tax-free savings allowance. Invest £25 a month for 10 years. Your MiBond buys units in Scottish Friendly's unitised With Profits Fund which may include stock market, property and a small amount, if any, of cash assets. A small amount of life cover is automatically included. Get a £25 M&S gift voucher or a £25 High Street voucher when you start investing.	MORE INFO

Child tax exempt savings

These accounts are long-term, tax-efficient savings plans that are specially designed for an adult to save on behalf of a child, tax-free. Created as an alternative to Child Trust Funds they allow you to save from £15 - £250 per month, however, you must save for a minimum period of 10 years. Child Tax Exempt accounts are available from Friendly Societies. See below for some of the latest offers

 

Compare child tax exempt savings

	Product Name	Description
	Scottish Friendly Scottish Friendly Child Bond	Pay in £25 a month to build a cash sum for any child Invest for long-term growth over 10 years or more and invest tax-free - no income tax or capital gains tax to pay Take out a Child Bond whenever you like: it doesn't have to be for a special occasion, the sooner you start investing, the bigger the payout the child will receive at the end of the bond life you choose.	MORE INFO
	Shepherds Friendly Society Shepherds Young Saver Plan	Save from as little as £7.50 right up to £100 per month Don't pay a penny in tax on the final lump sum payout sickness benefit included; claim up to £400 per week if your child is ill over 4 weeks £30 FREE Love2Shop vouchers	MORE INFO

More about tax exempt saving

Available through the so called 'friendly societies', a tax free savings plan - or TESP - offers you another way, on top of your annual ISA limit, to keep the interest you earn on your savings away from the clutches of the taxman.

Deemed to be an ethical or 'family friendly' way to save, TESPs often offer add-on benefits like life insurance or discounts on other banking products. Although the investments are usually linked to the stock market - meaning the money could be liable to go down as well as up - you can often find accounts which will guarantee a minimum return of the amount you put in.

TESPs tend to operate as a long term regular savings account - with terms of 10 years most common. When the account matures you get a lump sum payment of everything you've saved plus all of your interest, in full, without being looted by Her Majesty's infamous Revenue and Customs.

Usually, you can't withdraw any of the money in the account before you reach the end of the term. However, sometimes accounts offer you the chance to withdraw a certain percentage of the total at a pre-agreed interval.

There are both adult and children's TESPS available. With the former you are limited to saving a maximum of £25 per month. With the latter, some accounts allow you to save up to £100 per month.

With children's TESPs - sometimes known as family savings accounts - you can often choose to have the account mature on a specific date such as the child's 21st birthday. A minimum of 10 years is required though.

Find out about the different savings options available to you.

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