Scottish Friendly review

Scottish Friendly lets you invest in a range of ready made portfolios with low fees. Find out some of its main features.

Types od Scottish Friendly accounts Compare accounts
Pros and cons of Scottish Friendly Learn more

Scottish Friendly is a mutual organisation in the UK that offers individual savings accounts and investment bonds. You can invest for yourself or for your children and make use of your annual ISA allowance. Read our review to find out what we think of Scottish Friendly and how much it costs.

What is Scottish Friendly?

Scottish Friendly is one of the largest mutual investments organisations in the UK, and was established 200 years ago. As a mutual organisation, Scottish Friendly aims to help each of its members to plan their futures, partially by sharing profits amongst its members or reinvesting it for its own operation, as there are no shareholders.

Scottish Friendly’s main features include:

  • Provides members with the opportunity to invest using a range of products to plan a financially secure future.
  • The option to invest as little as £10 to gain comfort and control while investing.
  • No shareholders, so all the profits go straight back to you.
  • A range of products to suit each member’s needs and circumstances no matter their age or position in society.
  • You can easily manage your investments on the go with the ‘My Plan’ mobile app.
Scottish Friendly stocks and shares ISA

Open an ISA with Scottish Friendly

Capital at risk. ISA & gift rules apply.

  • Manage your ISA online or on our app
  • Invest from £10 p/m & get a gift worth up to £45
  • 160 years of experience & a UK based team

Scottish Friendly products

  • Investment individual savings accounts (ISAs)
  • Junior ISAs (JISAs)
  • Bonds account

Scottish Friendly ISAs

The Scottish Friendly stocks and shares ISA is a personal account where you can invest up to a certain amount in each tax year without taxing your profits. With Scottish Friendly, you can invest from as little as £10 a month to a lump sum of £100, so long as you have not paid into another investment ISA in the same tax year. In the 2022/2023 tax year, you can invest up to £20,000 in without paying any tax on the profits made from your investment.

Before you get started, you should consider these as a medium to long-term investment. This means that you should ideally let your investments grow for a minimum of 5 years. It is best not to access your investment for up to ten years for the best growth potential.

You can open your Scottish Friendly ISA by signing up for “My Plans”, which can be found on the Scottish Friendly website. Once you register and set up an ISA, you can manage your investment by downloading the Scottish Friendly app, which is available on Google Play and the App Store. By downloading the app, you can conveniently manage your investment from your phone at any time and anywhere.

Within the investment ISAs, Scottish Friendly offers three ISA types to choose from:

  • Easy Choice ISA. A single fund choice with a guaranteed minimum cash lump sum on your 10 year anniversary. You get a welcome gift when you start investing.
  • My Choice ISA. Choose between 10 funds based on your risk appetite and get a welcome gift when you get started. Has an annual management charge of 1.5% of the fund value, which is deducted daily.
  • My Prime ISA. Invest a monthly payment of £100 or a lump sum of £2,000 into a shortlist of funds, ranging from low to high risk. You can also make investment pots for different goals.
  • My Ethical Choice ISA. You can invest in a single international ethical fund and get a welcome gift when you get started.

Junior ISAs

At Scottish Friendly, members and their children are encouraged to gain a financial headstart and invest in their futures. With the Junior ISA, you can provide your children with a helpful cash sum for their future. This can give them a head start to purchase their first property, travel, or pay their university costs.

You can invest up to £9,000 per year in a JISA without having to pay any tax on your profits.

Once you register for a My Select Junior ISA, you can regularly invest a minimum of £10 a month. Scottish Friendly lets anyone add to the JISA, because there’s a lot of love and generosity to go around with a child. This means that your child can receive deposits from their grandparents, aunties, uncles, and even Scottish Friendly who will pay £50 into it when you take out a My Select Junior ISA.


ISA1.5% per year- get a rebate each year if you contribute at least £100 per month or your total value is more than £2,000.
Junior ISA1.5% per year, and a £50 if you transfer or withdraw within 5 years of the plan starting

Scottish Friendly bonds account

This is a tax-exempt saving plan that locks your savings in and invests them for a set period of time before they are accessible to you again. These are a good option for beginner investors or people who have used their £20,000 ISA limit and are seeking a tax-efficient way to build up a lump sum.

You can invest up to £25 a month in addition to your ISA allowance. Once an investment is made, Scottish Friendly works to start building your lump sum by using the long-term growth potential of the stock market.

Scottish Friendly offers two types of investment bonds to choose from:

  • The Scottish Bond is a fixed-term and tax-exempt investment option that locks in and invests your savings for 10-years before your profits are accessible to you. With a Scottish bond, you can invest between £15 to £25 a month.
  • The Child Bond is a fixed-term and tax-exempt investment option for children. Like the Scottish Bond, you can invest between £10 to £25 a month and your child will gain access to their investment 10-years after their initial deposit or on their 18th or 21st birthday. This investment option will provide you with the opportunity to give your children a secure step into adulthood.

What makes these different from regular investments is that after 10 years, you will receive a guaranteed minimum cash sum. The amount that you are guaranteed to receive depends on your age and how much you pay in each month.
What information do I need to set up a Scottish Friendly account?

  • Client reference
  • Policy Number
  • Name
  • Date of Birth
  • Address and postcode

Scottish Friendly customer reviews

Overall on Trustpilot, Scottish Friendly has 4.1 out of 5 stars and a rating of Great, based on 1587 reviews.

Overall, the reviews posted on Trustpilot are generally positive. The reviews available have stated that Scottish Friendly has provided a user-friendly process, there was a good degree of professionalism, and they felt as if they were well reassured.

In contrast, there were a few reviews where Scottish Friendly received 1 and 2 star ratings. However, customers who had a negative experience reported that the IT systems were flawed, poor customer service, unclear advertisement of the app’s features, and low returns.

Pros and cons of Scottish Friendly


  • Make use of your ISA allowance
  • Scottish Friendly will pay £50 into your My Select Junior ISA.
  • Ethical investment options
  • Scottish Friendly is rated great on Trustpilot.


  • Members have to pay an annual management charge of 1.5% of their fund’s value, which will be deducted daily.
  • Scottish Global has received multiple negative reviews regarding customer service.
  • You can only invest in ready made options

Frequently asked questions

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