Monthly Savings ISA, where YOUR money is working hard for you AND you’re in control!
Like all our ISAs the Monthly Savings ISA is a Stocks and Shares ISA, allowing you to shelter up to £20,000 from the taxman every year, with easy regular saving and ad-hoc lump sum contributions, straight from your salary or direct debit, put directly into your fund.
Reach your saving ambitions faster
The Monthly Savings ISA comes with the Metfriendly Escalator option. If you select this option, your monthly payments can start from just £30 in the first year and will then automatically increase each year (minimum increase of £10 a year) from the following April, until you tell us to stop.
The most you can contribute is £1,666 per month, the equivalent to the maximum monthly ISA limit of £20,000 over 12 months.
If you already have a Metfriendly Monthly Savings ISA, you can add the Metfriendly Escalator by completing this short form.
Watch this video for a quick summary of our Monthly Savings ISA.
Product overview
| Monthly Savings ISA (from 6/4/2020) | |
| Minimum monthly payment |
£50, or £30 with the Metfriendly Escalator option |
| Maximum contribution |
£20,000 per tax year |
|
Annual bonus |
✅ Yes, there’s a guaranteed annual bonus for the first year (currently 1.5% for premiums received during the 2023/24 tax year) and then a variable bonus each year after that. |
| Flexible |
✅ Yes, you can vary, stop and restart premiums at any time. You can also pay in a lump sum to top up your ISA – the minimum top-up is £500. |
| Final bonus |
✅ Yes, if you decide to cash in or transfer after three complete tax years, your plan is eligible for a final bonus. |
| Metfriendly Escalator |
✅ Yes, this option is available. Select this option to enable contributions to automatically increase each year, from the following April, until you tell us to stop. |
| Early redemption charges |
Yes, in the first 2 years of investment only. |
Competitive Returns
- Premiums received during tax year 6/4/2023 – 5/4/2024 will receive a guaranteed annual bonus rate of 1.5% per annum for the first tax year of the plan.
- The annual bonus rate for every subsequent tax year will be set by the Board before the end of the calendar year.
- The plan will be eligible, after three complete tax years, for a final bonus on encashment.
Flexibility
- You can vary your premiums, add a lump sum (minimum £500, up to your own Personal ISA allowance), or move an ISA across from another provider using our transfer forms at any time.
- You can stop and restart your premiums at any time.
- All funds invested can be withdrawn penalty free once 24 months have elapsed from when the ISA was opened.
Metfriendly Escalator and low start premiums
- Metfriendly Escalator allows you to build up your savings, with contributions automatically increasing each year, until you tell us to stop.
- The increase will take place each April starting in the following calendar year. For example if you start your plan at £50 per month from September, and set the escalator at £20, your monthly contributions will automatically increase to £70 per month the next April, and by the same amount each year afterwards.
- You can still vary, add a lump sum, stop or restart your monthly contributions at any time.
If you already have a Metfriendly Monthly Savings ISA, you can add the Metfriendly Escalator by completing this short form.