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ScotMut boosts WP bond bonuses

Scottish Mutual is increasing the additional guaranteed bonus rates on its

with-profits investment bond and its with-profits.com product.

The additional guaranteed bonus is set to rise to 2.25 per cent from 1.5

per cent on inv-estments between £20,000 and £49,999.

This means from June 4, the first-year bonus rate, including the annual

bonus rate of 5.25 per cent, will be 7.5 per cent for investments between

£20,000 and £49,999.

The additional guaranteed bonus rate for other amounts stays at 0.75 per

cent for inv-estments between £15,000 and £19,999 and 2.5 per

cent for investments of £50,000 or more. There is no additional

guaranteed bonus for investments below £15,000. A terminal bonus of 2

per cent a year is also applied.

With-profits.com, laun-ched in April, allows combined investment in a

range of technology sectors with an investment in a with-profits fund. It

is a single-premium unit-linked bond with no fixed term.

Scottish Mutual product development consultant John Gibbons says: “The

majority of our with-profits bond business falls into the premium band

£20,000 to £49,999.

“By increasing our additional guaranteed bonus within this band, we are

able to further improve our already very competitive terms.”

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