Youngsters grow up fast which means it is important to start thinking about saving when they’re young. By saving as little as £10 to £25 a month with Scottish Friendly’s Child Bond immediately you could make all the difference when they are older. For example helping to pay for university fees or to find the money for a new car.You can save tax-free for any child with a Scottish Friendly Child Bond. It’s tax-free because it’s a friendly society savings plan, which means that under today’s law it grows free of income or capital gains tax. It is an marvellous way for parents, grandparents, family members and friends to make a big financial difference when the childen are older.In essence the Child Bond is a with-profits investment plan: It invests for long-term growth as well as a degree of security, in stocks and shares, fixed interest funds and cashFunds accumulate through the addition of potential yearly bonuses and at the point where the bond matures there is a tax-free payout. The value of bonuses is dependent on how much profit we make and how it is distributed by us. Bonuses are not guaranteed.The Child Bond lasts for a minimum of ten years, but you can invest for longer if you cjhoose to - perhaps to coincide with an 18th or 21st birthday. You can save either monthly, annually or with a lump sum payment. That is really entirely up to you. Please note if the plan is cashed in before the end of the term, the amount the child will receive may be less than the amount paid in.If you select the monthly option, you can start saving from as little as £10 a month - up to a maximum of £25 a month. Or you can make yearly payments of up to £270 a year.You can also take care of all of the premiums in one go through our lump sum funding plan. If you invest the maximum amount of £2,340 for a 10 year period, this actually invests £270 a year into the Child Bond - making £2700. The minimum lump sum of £1,040 provides £120 a year for 10 years - a total of £1,200. This provides a way for you to take care of all your premiums in one go and is particularly popular with grandparents who like the reassurance of knowing all premiums for the entire term of the plan are taken care of.Life cover is also included with this plan so you should consider if this is suitable for your financial needs.