Introduction

These monthly savings plans are only offered by Friendly Societies. Provided you do not cash them in before 10 years, there is no liability to income or capital gains tax on the profit you make - even if you are a higher rate tax payer. Moreover, we do not pay tax on the income and capital gains we make on the money you invest with us, so we can pay higher bonuses than on other regular savings plans.

You can choose to save over a fixed term of between 10 and 35 years in the ' Endowment Plan ', or you can choose our 'Whole Life Plan' where you will only pay premiums for 10 years, but you will then have the option of leaving your savings to grow for as long as you want without having to pay any more premiums.

Premiums are limited by legislation to £25 per month because of the generous tax concessions. This does not affect your ISA allowances in any way - you can invest in both types of savings up to the maximum in each. We offer an Investment ISA. You can save in our ISA as well as having a Cash ISA elsewhere.