Compare Scottish Friendly ISAs
Compare ISAs from Scottish Friendly and other ISA options available.
Investment ISAs put your capital at risk & you may get back less than you originally invested
- Fund Choice: Invest in UK, US and international shares & funds
- Invest From: £10
Good to know: Invest from only £10 using your tax-free Investment ISA allowance. You can stop, restart, raise or lower your payments or your investments and cash in whenever you want. When you set up a My MoneyBuilder Select (ISA), your money will be invested in a single fund – the Unitised With-Profits fund. A mixed managed fund from Scottish Friendly where premiums are pooled with those of other clients and returns are linked to the performance of the underlying assets within the fund. Remember the value of investments can go down as well as up, and you could get back less than you’ve paid in. If you cash in before the end of 5 years there will be a £50 deduction from your cash-in value. Capital at risk.
Show More- Fund Choice: International Ethical Fund which has been designed to invest in shares of global companies that have been assessed to meet ethical criteria
- Invest From: £10pm
Good to know: An investment linked to an index that includes global companies but minimal, if any, direct exposure to non-renewable energy, adult entertainment, alcohol, gambling, tobacco or weapons and companies that do not meet the UN Global Compact Principles. Winner of ‘Leading Mutual Insurer’ and ‘Best Tax Efficient Products Provider UK’ at the World Business Outlook Awards 2023. Capital at Risk
- Fund Choice: Invest in UK, US and international shares & funds
- Invest From: £25 pm
Good to know: An award-winning ISA that gives you complete control. The second largest platform in the UK with the widest choice of investment options in the market including funds, investment trusts, ETF’s and more. Open online in less than 10 minutes. Access to expert independent ideas and analysis. Low cost fees and trading. Capital at risk. *Offer ends 5th April. Terms & fees apply. New customers only
- Fund Choice: Invest in Exchange Traded Funds (ETFs)
- Invest From: £100
Good to know: Make the most of the world’s best ETFs commission free. Build your own portfolio commission free or leave it to our experts for just 0.25%. Zero‑ISA fees. Choice of 700+ ETFs. Low cost, diversified, index-tracking of stock markets, bonds and commodities. DIY or Managed. ETF costs apply. Capital at Risk. *When you invest at least £100 with InvestEngine (Capital at risk, Ts&Cs apply). ** Customers who transfer an existing ISA, or open and fund a new account could earn a bonus of up to £4,000 on top of their partner welcome bonus! Ts&Cs apply
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- Fund Choice: Invest in UK, US and international shares & funds
- Invest From: £25 pm
Good to know: Invest in over 2,000 funds, shares and more across 25 markets. Invest from £25 per month. Which? Recommended Provider for Investment Platforms 2024. Low-cost online dealing from £1.50. Open your account in minutes from app or website, manage your portfolio on the move. FSCS protected. Capital at risk
- Fund Choice: Invest in managed portfolios
- Invest From: £1
Good to know: Choose your level of risk from cautious to adventurous and have a plan expertly created and managed for you. Create multiple Plans – including Ethical Plans – with different risk levels. Invest as little or much as you like, add regular payments and top up whenever you like. Withdraw money or transfer out without notice or penalty fees. Wealthify app lets you check how your Plan is performing, manage your transactions and provide investment news and insights. There is a simple Annual Management fee currently no more than 0.6%. *Open only to new customers of Wealthify. The promotion is for a 12-month management fee free period for new JISA, ISA, GIA or SIPP customers (£50 minimum for SIPP). With investing your capital is at risk. T&Cs apply. Offer ends 30.06.2025. The tax treatment of your investment will depend on your individual circumstances and may change in the future. Wealthify is authorised and regulated by the Financial Conduct Authority
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- Fund Choice: Invest in Shepherds Friendly With Profits Fund
- Invest From: £30 pm
Good to know: You don’t have to make any tricky investment decisions; your money will be invested in Shepherds With Profits Fund, and the bonuses you could receive will depend on the future performance of the fund. To try to achieve higher returns for you, your money is invested in a variety of assets, the majority of which consist of stocks and shares, but also property, bonds and cash. While returns are not guaranteed in stocks and shares investments and the value can go down as well as up, Shepherds apply a process known as ‘smoothing’ that attempts to even out fluctuations in the value and aims to keep a consistent level of bonus payments. Capital at risk.
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- Fund Choice: Choose from a range of 36 funds and ETFs and 20 US stocks. Select one of three simple starting options with a range of tracker funds or build your own investment portfolio by customising your investment options
- Invest From: £1
Good to know: Choose from a range of 36 funds and ETFs and 20 US stocks to invest with Moneybox. Earn 3.5% AER Variable on any uninvested cash you hold. There are additional fees charged directly by the fund provider. Please check the key investor information document (KIID) for a particular fund for more information. Keep things simple and get started with one of our three starting options: Cautious, Balanced or Adventurous – and customise your investments to align with your values. Open with as little as £1. When investing, your capital is at risk
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- Fund Choice: Invest in UK, US and international shares & funds
- Invest From: £25 pm or £100 lump sum
Good to know: Hargreaves Lansdown are the UK’s no. 1 investment platform for private investors – kickstart your investing with their award-winning ISA. Choose your own investments with expert research and ideas to help you, or simply pick a ready-made portfolio. Manage via website, app or phone. Capital at risk. *HL will refund their annual account charge – no questions asked.
- Fund Choice: Invest in UK, US and international shares & funds
- Invest From: £25 pm
Good to know: This award-winning ISA has an extensive range of investment options, including thousands of funds and shares, plus a guidance service to help you find investment ideas. There is a low service fee (typically 0.35%), easy online application process and apps to manage your money on the move. Additional charges apply depending on your choice of investments. Plus, everything is backed by Fidelity’s 50 years of investment experience. Boring Money Best Buy ISA 2023
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Why Scottish Friendly?
Scottish friendly was founded in 1862 originally as the City of Glasgow Friendly Society and offers a broad range of financial services and investment products.
In 2019, Scottish Friendly took over a significant portion of business from Canada Life which dramatically expanded the company’s assets.
With over £5bn of assets under their control, they are considered a major player in the financial services industry and have a firmly established history and reputation.
Scottish Friendly was also awarded the ‘Best Junior ISA Provider’ at the Investment Life & Pensions awards in 2019.
What is an ISA?
An ISA account is a savings account that shelters your money from tax.
Savings in an ISA account are shielded from the following taxes:
- Income tax
- Dividend tax
- Tax on interest
- Capital Gain Tax
No matter how well your ISA savings perform, you never need to worry about paying tax on them – even when you withdraw your money from your ISA account.
The government only allows you to contribute a certain amount of money to ISA accounts each year. For the current tax year, the ISA allowance is £20,000 which means you can’t add more than this.
What are the different types of Scottish Friendly ISA accounts?
Currently, Scottish Friendly only offer Investment ISAs (also known as Stocks and Shares ISAs).
They don’t currently offer a Cash ISA, Innovative Finance ISA or a Lifetime ISA.
What are Scottish Friendly Investment ISAs?
Scottish Friendly currently offer four types of Investments ISAs, and they differ based on the underlying investments they hold and how you select them:
- My Choice ISA
- My Prime ISA
- My Easy Choice ISA
- My Ethical Choice ISA
The four Investment ISA types are similar, but vary in the underlying funds you can invest in.
My Choice ISA:
Choose from 10 Scottish Friendly funds to invest in from lower to higher risk. You can mix and match between the 10 funds to get a diversified ISA portfolio. You can invest from £10 per month or with a £100 lump sum.
My Prime ISA:
My Prime ISAs are similar to My Choice ISAs in that you can choose from the same 10 funds to invest in. However, you have to contribute at least either £100 per month or a £2,000 lump sum compared to lower amounts for My Choice ISAs. As a reward for committing more of your savings, you pay lower ongoing charges.
My Easy Choice ISA:
Instead of picking from 10 funds, a My Easy Choice ISA invests in one fund. In this ISA, you are guaranteed to get back at least what you invest after holding your ISA for 10 years provided you don’t make any withdrawals or switches.
My Ethical Choice ISA:
With a My Ethical Choice ISA, you’ll invest in Scottish Friendly’s ethical fund. This fund invests with certain ethical and social responsibilities in mind, but you don’t have the ability to pick between different ones. You can invest from £10 per month or with a £100 lump sum.
How do I open a Scottish Friendly ISA?
You can open a Scottish Friendly ISA through their website, over the phone or by post and you’ll need to add money to start your account. You can do this by setting up a regular contribution or paying in with your debit card or by cheque.
FAQs
Do I pay tax when withdrawing from an Investment ISA?
No, you never need to pay tax withdrawing money from an ISA.
How long does it take to withdraw from an Investment ISA?
You can withdraw from a Scottish Friendly ISA at any point, and withdrawals usually complete in around 5 working days.
Can my investments go down in an Investment ISA?
Yes, as they are Stocks and Shares ISAs the money you invest will go up and down in value so you could lose money. The higher risk your portfolio is, the more it will likely fluctuate in value.
How can I manage my Investment ISA?
You can manage your account online through the online portal to add or withdraw money, change your investments, or make other adjustments.
They also have a mobile app so you can manage your ISA account from your mobile phone.
How do I add money to my Investment ISA?
You can top up online via debit card or a regular payment, or you can call their helpdesk to add money over the phone, or by cheque in the post.
Can I transfer my ISA into an Investment ISA?
Yes, you can transfer your existing ISA account into an Investment ISA. You’ll need to complete an ISA transfer form, which you can get from your new provider’s website.
Does my ISA allowance roll over each year?
No, you lose any unused ISA allowance each tax year when it refreshes.
How much can I withdraw from an Investment ISA?
You can withdraw as much as you want from your Investment ISA at any time. Remember, you won’t be able to add the funds back in without it counting towards your ISA allowance.
Frequently Asked Questions
Am I committed to one ISA provider forever?
No. You can switch providers with an ISA transfer if you wish. You can also contribute to other ISA providers in separate tax years.
Are ISA accounts safe?
ISA accounts are authorised and regulated by the Financial Conduct Authority (FCA). This means that all ISA providers are covered by the Financial Services Compensation Scheme (FSCS) for up to £85,000 if they go out of business.
Please note that this may not apply to the underlying holdings within a Stocks and Shares ISA, and will not cover standard investment losses.
Can I lose money in an ISA?
You can lose money in a Stocks and Shares ISA if your investments go down in value. You cannot lose money with a Cash ISA.
Can I withdraw money from an ISA?
You can withdraw money from a Stocks and Shares ISA at any time provided that you sell the underlying investments first.
You can withdraw from a variable-rate Cash ISA at any time.
Withdrawing from a fixed-rate Cash ISA may incur charges if you do so before the end of the specified fixed term.
How do I withdraw money from my ISA?
Most providers will allow you to withdraw from your ISA online, via a mobile app, telephone, or by written instruction in the post.
How long does it take to withdraw from an ISA?
Most ISA withdrawals will complete in approximately five working days, but they could take longer depending on the assets you need to sell.
How much can I contribute to an ISA?
The annual ISA allowance is set by HMRC each year, and the current limit is £20,000 per person for the 2023/24 tax year.
When does the ISA tax year run to?
The annual ISA allowance runs in line with the normal tax year, which is 6th April to 5th April the following year. Your ISA allowance will refresh on 6th April each year.
Will I be charged for an ISA?
A Stocks and Shares ISA provider will charge an ongoing, annual platform fee as well as some ad hoc charges.
A Cash ISA could also charge if you withdraw money before the end of a fixed-term investment.