Phoenix Customer Care Limited has teamed up with Scottish Friendly to give you the chance to start investing for the future.

What does the Tax Friendly Bond offer?

The Tax Friendly Bond is a great way to make the most of your tax-free allowance. The Government lets you invest up to £25 a month tax free with a friendly society. You can use this tax-free savings allowance even if you already have an ISA. If you don't use it, you simply lose it.

The Tax Friendly Bond is a 10-year investment for anyone aged 16 to 55 and designed to help you take full advantage of your tax-free savings allowance. Just set aside an affordable amount each month so that you could have a sizeable lump sum to look forward to. Just imagine, it could help pay for a car or the holiday of a lifetime. However, if you cash in early you may not get back as much as you have paid in.

When you invest with the Tax Friendly Bond, you're saving tax-free in two ways.

• First, unlike most investments and savings accounts, your money grows free from tax (other than tax on dividends from UK shares).
• Second, you don't pay tax on the payout when your Bond matures.

Your money will be invested in the Scottish Friendly With Profits Fund. This is an expertly managed fund which invests in stocks and shares, fixed interest funds and cash for long-term growth as well as a degree of security.

How much can I save?

You can choose to save £15, £20 or £25 a month or £180, £225 or £270 a year.

Get back all of your monthly premiums and receive potential bonuses

The Tax Friendly Bond offers a convenient way of building your savings and your payout is made up of two parts:

• Firstly, provided you make all your payments, at the end of the 10 year term you'll receive a guaranteed minimum cash lump sum which will be at least equal to the total of all your monthly payments. If you cash in your plan early, you may not get back as much as you paid in. Please read the Key Features for full details.
• Secondly, you'll receive growth on your investment through the form of potential annual bonuses and a final bonus. These bonuses are not guaranteed but are determined by the overall profitability of your investment and how Scottish Friendly distributes profits to it's members. Because we're a mutual organisation, there are no shareholders to take a cut - so we share any profits we make with our members. And when you take our your Tax Friendly Bond, you automatically become a member of Scottish Friendly.

What could I get back?

Look how much you could get back after 10 years*:

Potential return on £25 per month invested with Scottish Friendly over 10 years

*Source: Scottish Friendly. Based on someone aged 30 next birthday at outset saving £25 per month (a total investment after 10 years of £3,000.) These figures are only examples and the projected benefits are not guaranteed. They are based on premiums being paid for the full 10 years. They are not maximum or minimum amounts; what you get back depends on how your investment grows and the actual level of future bonuses. You could get back more or less than this. All friendly societies use the same rates of growth assumptions of 5%, 7% and 9%, but their charges may vary. In this case the rates have been lowered to reflect the guaranteed nature of the Tax Friendly Bond. Do not forget that inflation would reduce what you could buy in the future with the amounts shown. (For details on the effect of deductions on your plan, please see the Early Years section of the Key Features.)

Life cover is included

Life cover is automatically provided in the Tax Friendly Bond for peace of mind. So if you were to die during the 10 year savings term, your estate would receive a tax-free cash sum, make up of the guaranteed cash sum plus any bonuses which have been added. As life cover is included, acceptance of your application is subject to any medical conditions. You should consider whether life cover is appropriate for your financial needs. Please read the Key Features for full details.

The table below gives an indication of how much life cover you could expect.

Monthly savings amount for 10 years	Life Cover
£15	£1800
£20	£2400
£25	£3000

Apply now

Applying is easy. Simply click on the Apply Online Now link, read the Key Features then complete and submit your application today.

When you start saving with us, you'll receive a gift. Choose either a £15 Marks & Spencer voucher or a £15 Argos gift voucher. Don't forget to select which gift you would like on your application form.

If you are in any doubt as to whether this product is suitable for you please contact your Financial Adviser.

If you apply for this product, for your records, we recommend you print or save a copy of this and any other relevant pages together with a copy of the Key Features.