Spring Special Offer
- Receive a £25 Amazon.co.uk Gift Card when you apply for a Monthly Savings ISA by 30th June 2025.
Quote code SPRING25. Terms and conditions apply.
Save regularly with the flexibility to adjust your payments and add lump sums
Our ISAs are classed as Stocks and Shares, and allow you to shelter up to £20,000 from the taxman every year. Save regularly (from £30 per month) or add lump sums (from £100) paid straight from your salary, direct debit or bank transfer.
Reach your savings goal faster
By selecting the Escalator option, your monthly payments can start from just £30 and will then automatically increase (by minimum £10) in April each year until you tell us to stop.
Competitive returns
> Take a look at a graph to see how your ISA can achieve growth through saving monthly.
For With-Profit plans, annual bonuses are declared and added each year; once added, annual bonuses cannot be taken away. These bonuses provide a gradual increase in the value of your plan over time as part of how your savings are designed to grow; we also typically pay a final bonus when you cash in your With-Profit plans that have been held over the medium to long-term.
Watch this video for a quick summary of our Monthly Savings ISA.
Product overview
| Minimum monthly payment | £50, or £30 with the Escalator option |
| Maximum contribution | £20,000 per tax year |
| Annual bonus |  Receive a guaranteed annual bonus for the first year (currently 1.5% for premiums received during the 2025/26 tax year) and then a variable bonus each year after that. |
| Flexible | Vary, stop and restart premiums at any time, or top up by as little as £100. |
| Final bonus | Your plan is eligible for a final bonus if held over the medium to long term (typically 5 years or more). |
| Escalator | Automatically increase your payments each year (every April), until you tell us to stop. |
| Early redemption charges | In the first 2 years of investment only. |
Where is my premium invested?
The premiums are invested in the Metfriendly With-Profits Fund. For information on what that is and how it works, including a diagram to show the approximate investment mix, please refer to the With-Profits Fund page.
Can I transfer funds held with another ISA provider, or bring my Child Trust Fund across?
Yes. Funds from both ISAs and matured Child Trust Funds can be brought across from other providers to Metfriendly, and added to the Monthly Saving ISA fund, providing the fund owner is over 18 years old.
Payments from other providers are treated as a lump sum deposit into your account and will need to be at least £300 in value. To enable you to make transfer into your account a transfer form will need to be completed.
What are the early redemption charges?
We aim to keep all our charges to a minimum with surrender penalties dependent upon how long the plan has been in force.
From the 6th April 2020 the updated Monthly Savings ISA has new redemption charges. Penalty free withdrawals can be made once three complete calendar years have elapsed from the start of the plan.
Charges for early redemption are based on how long the ISA has been held.
Where:
- Withdrawal or transfer of plan during its first 12 months = 5% penalty as a percentage of value
- Withdrawal or transfer of plan between first and second anniversary = 3% penalty as a percentage of its value
- Withdrawal or transfer of plan after second anniversary: there is no penalty
| Number of years since plan started | Penalty as % of cash in value |
|---|---|
| 0-1 | 5% |
| 1-2 | 3% |
| 3+ | 0% |
Partial withdrawals
Rather than surrendering your whole plan, the Monthly Savings ISA allows you to access part of your money, without having to close the plan itself. These withdrawals must be for a minimum of £500 and at least £1,000 must remain invested within the ISA after the partial withdrawal. Otherwise the plan may only be surrendered in full.
Metfriendly reserves the right to also apply a Market Value Reduction (MVR) so that the value when you cash in more fairly reflects our performance over the period of investment.
What if I change my mind or decide to cancel?
- You can cancel for a full refund within 30 days of receiving your policy documents. Simply contact our Member Services team on 01689 891454 or email [email protected]
- If you wish to change your contributions, add the Metfriendly Escalator or withdraw funds, our friendly Member Services team will be able to discuss your options.
How much will it cost for advice?
- We do not offer or give financial advice.
- We do not make any form of commission.
- The cost of providing verbal or written information about this product is included in our overall expenses.
How do I contact you?
Metfriendly, Central Court, Knoll Rise, Orpington, BR6 0JA
Phone: 01689 891454
Email: [email protected]
