Engage Mutual offers tax free savings
Engage Mutual has launched a new savings plan which offers tax-free interest to customers investing money for more than ten years.
The Vision Tax Exempt Savings plan is being rolled out by the friendly society in partnership with Clydesdale Bank and Yorkshire Bank.
It works by taking advantage of the government's special tax exempt friendly society savings allowances, which can be used by customers in addition to their ISA allowance.
It means any growth in customers' savings is tax-free and they will also receive a tax-exempt lump sum at the end of the saving term.
The plan can also be bought as a child's saving plan.
Andrew Haigh, Engage Mutual's chief executive, said: "We will be seeking to raise awareness of the benefits of tax exempt saving among families who need their savings to stretch that bit further and work that bit harder, and with those who are seeking a vehicle for long term saving."
- Tags:
- products and companies
Comments
Newsletter sign up