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ScotMut adds new bond issue

Scottish Mutual has launched a new issue of its Triple Bonus Bond.

The single-premium with-profits endowment, which provides guaranteed and non-guaranteed bonuses, is designed to increase the original lump-sum investment over 10 years.

The offer period is March 2-May 8 with a guaranteed bonus of 65 per cent at the end of 10 years.

ScotMut is also offering a bonus of 1 per cent for investments before March 27. From March 27-April 17, the bonus is 0.7 per cent.

Bonuses will also be paid for investments of £15,000 and more.

Deposits between £15,000 and £24,999 get a 0.2 per cent bonus, from £25,000 to £49,999 the bonus is 0.4 per cent and above £50,000 it is 0.6 per cent.

The first tranche of the bond, which was released last year, is paying a 3 per cent additional annual bonus at maturity.

Commission is 7 per cent.

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