About investing in this ISA
- My Easy Choice (ISA) is a medium to long-term investment of at least 5 years and ideally 10.
- As with all investments, it’s important to be aware that the value can go down as well as up, so you could get back less than you’ve paid in.
- When you set up a My Easy Choice (ISA), your money will be invested in an investment policy within a Scottish Friendly ISA. The policy then invests in our Unitised With-Profits fund, which you can read more about below.
- You can start your investment from £10 a month, make lump sum payments from £100, or you can combine monthly payments with a lump sum. It’s up to you.
- You can also choose to set an automatic yearly payment increase on your monthly payments. This means that, each year, your monthly payment would increase by 2.5%, 5% or 10% depending on what you've chosen. You can amend or remove this at any time.
About tax and ISAs
- Tax treatment depends on individual circumstances. Tax law may change in the future.
- Tax-free means the policy grows free of income or capital gains tax (other than tax that's already paid i.e. on dividends from UK shares).
- There are four different types of ISA - Investment ISA, Cash ISA, Innovative Finance ISA and Lifetime ISA - and you can have one of each in the current tax year.
- The current ISA limit is £20,000 and this is the total you can invest across all types of ISA each year.