Investment ISAs with Scottish Friendly

ISAs – Individual Savings Accounts

Invest up to £20,000 in 2017/2018

ISAs are tax-efficient, allowing you to make the most of your savings & investments.

What is an ISA?

ISA stands for Individual Savings Account. It is where each UK resident can save or invest tax-free, either in cash, stocks & shares or peer to peer lending. Tax is not charged on any interest earned or gains made (other than dividends from UK shares) within an account. Tax treatment depends on individual circumstances and can change in the future.

There are four types of ISAs for adults:

  • Investment ISA (Stocks & Shares ISA)
  • Cash ISA
  • Innovative Finance ISA
  • Lifetime ISA

Investment ISAs

At Scottish Friendly we only offer Investment ISAs, enabling you to invest for the future.

Learn more about Cash vs. Investment ISAs

An Investment ISA usually aims to put your money to work using the long-term growth potential of the stock market. It can also offer access to investment in property, bonds and cash. If the market performs well, your investment could grow. However, the value of your investment can go down as well as up, so you could end up with less than you paid in.

Investment ISAs are normally considered medium to long-term investments, of at least 5 years but ideally 10, to give your money access to the growth potential of the stock market.

Compare Investment ISAs

Why Scottish Friendly

Scottish Friendly are a mutual. It means we don’t have shareholders and all our profits are used to benefit our members. Whilst there are many ISA providers, and products in the marketplace today, you don’t have to be an investment expert to get started with an Investment ISA. At Scottish Friendly we believe that investing should be accessible to everyone, not just those with a larger amount to invest.

With both our Investment ISAs and Junior ISAs you can start investing from only £10 a month which could make your money work harder.

Compare Investment ISAs

Find out which Scottish Friendly ISA is best for you:

Compare ISAs

  • If you want more control, with a choice of 8 risk graded funds, this could be for you.
  • Invest from £10 a month or a lump sum from £100 or transfer in from another provider.
  • Option to transfer in to My Choice (ISA) from an existing ISA.
  • Invest up to £20,000 tax-free
Find out more>
  • If you want the straightforward option of investing in one fund, then this could be for you.
  • Invest from £10 a month or a lump sum from £100.
  • Peace of mind with a guaranteed minimum cash sum on your 10th anniversary - terms apply.
  • Invest up to £20,000 tax-free
Find out more>

Interested in a Lifetime ISA?

Our Investment ISA offers a way to access a Lifetime ISA when it suits you from March 2018.

Find out more


  • Tax rules can change and depend on individual circumstances.
  • Tax-free means the policy grows free of income and capital gains tax (other than tax on dividends from UK shares).
  • The value of your investments can fall as well as rise and you could get back less than you have paid in (except for a continuous 10 year investment in the with-profits fund).

ISA allowance 2017/2018

New ISA allowance 2017/2018

You can put up to £20,000 in ISAs in the current 2017/2018 tax year.

 ISA limits 2017/2018

ISA transfer information

New ISA transfer information

Because they're designed to put you in control, it's possible to switch between ISAs if you really want to.

Find out about ISA transfers

ISA comparison

New ISA comparison table

Ready to start investing but still not sure which Scottish Friendly ISA is right for you? Our at-a-glance guide could help you compare our range of ISAs.

Compare ISAs

Junior ISA

Junior ISA

A Junior ISA is a special Individual Savings Account for children under the age of 18 that don't have a Child Trust Fund. There are two types, Cash and Stocks and Shares.

More about Junior ISAs

Investment ISAs: Frequently Asked Questions

Applying for an ISA FAQ

What type of ISA is best for me?

It depends whether you want to save or invest. Cash ISAs are essentially bank accounts where the interest is added tax-free, so the overall amount can only ever go up, although inflation can erode the value over time. Stocks & Shares or Investment ISAs are linked to the stock market, meaning that the money in the account could have a greater potential than a secure cash account to increase over the long term but it can also fall, so your original investment is not guaranteed.

Am I eligible for an Investment ISA?

You are eligible to open an ISA account with Scottish Friendly if you are over 18 years old and a UK resident.

Can I share an ISA with another family member?

You can’t hold an ISA with or on behalf of someone else. You can only take out the ISA in your name alone; you can't have a joint ISA.

Is there a minimum investment for Investment ISAs?

With Scottish Friendly you can invest from £10 a month or a lump sum from £100. You can also transfer in from another provider.

ISA rules & allowances FAQ

Is there an allowance for how much I can save?

You can save or invest in one of each type of account providing you stay within your annual ISA allowance – currently £20,000. Click here to find out more.

Are ISAs tax free?

Tax free, in relation to a Stocks & Shares / Investment ISA, means the fund your plan invests in grows free of income and capital gains tax (other than tax on dividends from UK shares). Tax treatment depends on your individual circumstances and tax law may change in the future. If you complete a tax return, you don’t need to declare any ISA interest or profits on it.

Can I have both a Cash ISA & an Investment ISA?

An Investment ISA can be opened even if you have a Cash ISA, Lifetime ISA or an Innovative Finance ISA providing you remain within your annual £20,000 limit. Find out more about splitting your ISA allowance here.

Can I transfer one ISA into another?

The current ISA rules allow you to transfer any ISA into another ISA with another ISA provider with the exception of Lifetime ISA. So if you currently have a Cash ISA you can transfer it to either an Investment ISA with us or an ISA with another provider. Any type of ISA can be transferred into a Lifetime ISA but you can only transfer a Lifetime ISA into another Lifetime ISA. You should check if there are any charges applied for transferring.

General ISA FAQ

Are there risks involved with an Investment ISA?

It’s important to understand the risks of stocks and shares ISAs. If the market performs well, your investment could grow. However, the value of your investment can go down as well as up, so you could end up with less than you paid in.

How do I manage my Scottish Friendly ISA account?

Account Management can be done via your account online, via the My Plans tool, or by phone, email and post

Your welcome gift

When you start investing, as a thank you for choosing Scottish Friendly, we’ll send you a £25 My Rewards card which can be redeemed at a choice of over 55 UK retailers such as M&S, Amazon, Next, John Lewis and many more!

No advice has been provided by Scottish Friendly. If you are in any doubt as to whether a plan is suitable for you, you should contact a financial adviser for advice. If you do not have a financial adviser, you can get details of local financial advisers by visiting Advisers may charge for providing such advice and should confirm any cost beforehand.