My MoneyBuilder (ISA)
Putting a little away for me each month
Everyone has the right to more than one ISA each year. Start from just £10 a month
Looking to put money aside for the future? Maybe towards a special holiday, a new car or simply for that rainy day?
My MoneyBuilder (ISA) from Scottish Friendly is a tax-free investment available to any UK resident aged 18 or over and is designed to get you into a monthly habit with payments starting from just £10 a month.
The table below provides all the plan detail and things you should consider. For more information on My MoneyBuilder (ISA) please visit the detail tab.
|Investment features||What you need to consider|
No advice has been provided by Scottish Friendly in relation to this plan. If you are in any doubt as to whether this 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 www.unbiased.co.uk. Advisers may charge for providing such advice and should confirm any cost beforehand.
You’re probably aware that you are entitled to save tax-free with a Cash ISA but did you know that you are allowed to have an Investment ISA (also known as a Stocks & Shares ISA) as well? Using some or all of your Investment ISA allowance gives your money access to a wider range of investments than a secure cash account alone.
You can invest up to £20,000 in the current tax year in an Investment ISA, less any amount you have paid into a Cash ISA, Lifetime ISA or an Innovative Finance ISA. So if you already have a different type of ISA with another ISA manager, you can still take out an Investment ISA with Scottish Friendly.
My MoneyBuilder (ISA) is an Investment ISA that let's you start investing from as little as £10 a month.
Tax treatment depends on your individual circumstances and tax law may change in the future. Tax-free means the fund your plan invests in grows free of income and capital gains tax (other than tax on dividends from UK shares).
With a choice of flexible payment options, My MoneyBuilder (ISA) puts you in control of your money:
Stop, restart, increase or decrease your payments whenever you like.
Access your money instantly, should you ever need it.
Choose if you want to increase your payments each year. (This is called your yearly payment increase rate).
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 payments each year, if you wish, by a rate to suit you – for example 2.5%, 5% or 10% a year.
In order to check what your monthly premiums would be each year for the first 10 years, check out our handy tool below:
Remember your monthly premium will continue to increase past year 10, however you have the option to change the yearly payment increase rate at any time.
With My MoneyBuilder (ISA), you get a guaranteed minimum cash lump sum if you cash in on the 10th anniversary of the start date of your investment (and each 5-year thereafter, so the 15th anniversary, 20th anniversary etc.). Provided you haven’t made any withdrawals this will initially be at least equal to 95% of the payments into My MoneyBuilder policy.
Opening a My 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 along with other relevant web pages and the Key Features. That way, they will always be handy should you need to refer to them.
My 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 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 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 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.