My Grandchild's MoneyBuilder (ISA)
Invest for their future using your ISA allowance
Help them reach for the stars from just £10 a month
One moment they're losing their first tooth. The next they're walking out the door; off to college or university. It's at times like this that you may want to give them a helping hand and this could be where My Grandchild's MoneyBuilder (ISA) comes in.
The table below provides all the plan detail and things you should consider. For more information on My Grandchild's MoneyBuilder (ISA) please visit the detail section.
|Investment features||What you need to consider|
Make sure you have read and understood the Key Features. Then you're ready to apply.
As your grandchildren grow up, you'll watch as their ambitions and dreams grow too. Wouldn't it be great to put some money away regularly that could grow with them?
You can start from as little as £10 a month to build up a lump sum that could help them start off in adult life, or anytime you feel they need it.
You can save and invest up to £20,000 in the current tax year, split as you like between an Investment ISA, Cash ISA, Lifetime ISA or Innovative Finance ISA. So if you already have a different type of ISA with another provider, you can still take out a Investment ISA with Scottish Friendly.
My Grandchild's MoneyBuilder (ISA) is an Investment ISA that lets you start using your ISA allowance. As you're using your own annual ISA allowance, it's in your name, so you choose how and when they spend it - just in case they need a little guidance from Gran and Grandpa.
Tax treatment depends on your individual circumstances and tax law may change in the future.
With a choice of flexible payment options available, My Grandchild's MoneyBuilder (ISA) puts you in control of your money:
Regular payments starting from £10 a month.
Stop, restart, increase or decrease your payments whenever you like.
Access your money instantly, should you ever need it.
Choose if you want to automatically increase your premium each year (more on this below).
Please remember, if you cash in the plan before the end of 5 years there will be a £50 deduction from your cash-in value.
You can choose to increase your regular payments each year if you wish, by a rate to suit you – either 2.5%, 5% or 10% a year. This is known as your yearly payment increase rate.
Remember your monthly payment will continue to increase every year, however you have the option to change the yearly payment increase rate at any time.
My Grandchild's MoneyBuilder (ISA) is an Investment ISA that uses the long-term potential of the stock market to help your money grow. As a stock market investment there's an element of risk. The value of your investments can fall as well as rise and you could get back less than you have paid in.
With My Grandchild's MoneyBuilder (ISA) you get the piece of mind of a guaranteed cash sum if you cash in exactly 10 years after starting it (and each 5-year thereafter, so the 15th anniversary, 20th anniversary etc.). Provided you haven't made any withdrawals, you will qualify to receive at least 95% of the money you have paid into the My Grandchild's MoneyBuilder (ISA).
Keeping track of each policy can be quite difficult especially if you have a few grandchildren.
That’s why Scottish Friendly allows you to split your ISA into different ‘pots’. You can name each ‘pot’ by your grandchild's first name so you can easily keep track of your progress towards investing for your grandchildren's future.
Once you have taken out a My Grandchild's MoneyBuilder (ISA), you can register with Scottish Friendly’s My Plans online service.
With My Plans, you’ll be able to manage and view your Scottish Friendly investments online quickly and safely, when it suits you, from the comfort of your home, work or wherever you have access to the internet.
We’ll send you more details on My Plans after you’ve invested in your My Grandchild's MoneyBuilder (ISA) or you can find out more right now if you set up online.
Opening a My Grandchild's MoneyBuilder (ISA) with Scottish Friendly is simple. First, please make sure you have read and understood the Key Features. Then you're ready to apply online.
If you apply, we suggest printing or saving a copy of this page, other relevant web pages and the Key Features.
My Grandchild's MoneyBuilder (ISA) invests solely in our Unitised With-Profits fund, for further information on the fund, please see the table below.
Remember though, the value of the My Grandchild's MoneyBuilder (ISA) can go down as well as up and you could get back less than you have paid in.
|Unitised With-Profits fund features||What you need to consider|
When you start a My Grandchild's MoneyBuilder (ISA), your money will be invested in a My MoneyBuilder policy within a Scottish Friendly ISA, which will invest in our Unitised With-Profits fund.
Because your investment is linked to the stock market, it’s impossible to tell you the exact return you may get in the future — but we can give you a rough idea.
Use the sliders and click Calculate to see what you might get back within a My Grandchild's MoneyBuilder (ISA).
Scottish Friendly is not responsible for the accuracy of the information displayed on externally linked third party websites. The Scottish Friendly Group of Companies consists of the following companies: Scottish Friendly Assurance Society Limited – Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Member of AFM, Member of ABI: Life, Savings and Investments. Scottish Friendly Asset Managers Limited – Authorised and regulated by the Financial Conduct Authority. Member of The Investment Association. Registered in Scotland No 187215: OEIC Managers, ISA Managers. Scottish Friendly Insurance Services Limited – Authorised and regulated by the Financial Conduct Authority. Registered in Scotland No 113007. SFIS (Nominees) Limited - Registered in Scotland No 397351. Head office: Scottish Friendly House, 16 Blythswood Square, Glasgow G2 4HJ.