The PMAS Children's Bond is a tax-exempt saving scheme.
The plan runs for ten years or to the plan anniversary after the child's sixteenth birthday, whichever is the greater.
Instead of cashing it in at the end of the payment term the lump sum can be left with the Society where it will grow in line with average monthly bank rates.
Anyone can make the payments on the child's behalf. However, the parent named on the application form has control over the plan until the child reaches 16, regardless of who is paying.
A Children's Bond is the property of the child at all times. Once the child reaches sixteen they will have control of the plan and all correspondence will be addressed to them.
If you’ve read through all the supporting literature before you begin to complete your application, and have the necessary information to hand, the application should take no more than 10 minutes to complete.
You’ll just need to decide the amount you wish to save, £12.50 or £25 per month.
Make sure you’ve read the Key Features document and the product information pages on this site. You’ll need your bank details and details of your child’s medical history to hand.
The Children's Bond includes built-in life cover. Should the child die before the plan is cashed in we will pay the guaranteed minimum payout, plus all bonuses added to date.
We will treat your application as a priority. If you have any questions about the processing of your application, please contact us on 0845 88 22 999.
