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ScotMut boosts first-year bonus on big with-profits investments

Scottish Mutual is improving the terms on its with-profits investment bond for investments of £20,000 or more by increasing initial bonuses by 1 per cent until the end of May.

On investments between £20,000 and £49,999, the additional guaranteed bonus is increased to 3.25 per cent from 2.25 per cent. For investments of £50,000 and upwards, it rises to 3.5 per cent from 2.5 per cent.

The additional bonus on investments between £15,000 and £19,999 remains unchanged at 0.75 per cent and there is no bonus below that amount.

Scottish Mutual pays the bonus in the first year on a monthly basis by the creation of additional units. Further bonuses of 1 per cent are added on the 10th anniversary of each bond and every five years thereafter.

Product development consultant John Gibbons says: “Since the additional guaranteed bonus rate is determined by the total plan investment, this limited-period special offer will appeal not only to new investors of £20,000 or more but also to those who are adding to an existing plan, where the additional investment pushes them into the qualifying band for the extra 1 per cent.”

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