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.”