Monthly ISA

Save flexibly and keep control of your finances

A Stocks and Shares ISA for regular savers who want flexibility, tax‑free growth and the option to add lump sums.

From £30/month

Ideal for 5+ years

Growth through bonuses

Pause whenever

Open a Monthly ISA Speak to our friendly team

What is a Monthly ISA?

A Stocks & Shares ISA designed with flexibility in mind. You can pay monthly or simply add funds when you wish. Allowing you to vary your savings in line with your income and any overtime payments.

The Monthly Savings ISA is designed for those looking to save (tax-free) for the medium to long term. Offering the flexibility to vary payments, pause and restart, add lump sums or transfer funds from other ISAs.

Invested in our With-Profits Fund with the aim of delivering a cash beating return over the medium to long term. This may be appropriate for those looking for consistent growth without the same level of risk as a pure Stocks & Shares ISA

Capital at risk. The value of your plan can go down as well as up and you may get back less than you pay in. Our savings and investment products should be considered medium to long term investments.

Open a Monthly ISA Speak to our friendly team

At a glance

Min. Investment 

£30 per month (up to £20,000 per tax year)

Recommended Term 

Medium to long term (ideally 5 years or more)

Access 

Open ended
5% deduction on withdrawals or transfers during year 1 and 3% during year 2

Returns 

Annual and Final Bonuses (share of the With-Profits Fund performance)

Risks

Return linked to With-Profits Fund performance. Early withdrawal penalty

Quick links

Transfer your Monthly ISA Top-up your ISA What is With-Profits? Jargon Buster Police Pay Guide

Made for the Police Family

Better protection

Our policies are fully protected by the Financial Services Compensation Scheme (FSCS). Designed to keep your savings safe if a provider fails, giving you peace of mind.

Built for the Police Family

A Friendly Society serving the UK Police Family for 130+ years.

Member-owned

As a mutual, all profits are returned to Members through bonuses and in support of the wider Police Family.

All serving and retired Police Officers, Staff and their families are eligible

£25 Amazon.co.uk
Gift Card

Receive a £25 Amazon.co.uk Gift Card when you open a regular savings ISA by 5th April 2026. Choose from our Monthly Savings ISA, Lifetime ISA or Junior ISA

Quote code Offer26. Terms and Conditions apply.

Browse ISAs

How it works

Set up a monthly ISA contribution or open with a lump sum, add further funds when you wish, and let your savings grow.

Open your Monthly Savings ISA

Apply online or speak to one of our friendly team.

Set up payments and Escalator

Choose your monthly amount, decide whether to automatically increase it each April with the Escalator option, and add lump‑sum top‑ups when you wish.

Let it grow and withdraw when you need

Keep building your savings and let your pot grow over the medium to long term (ideally 5 years or more).

Calculate your savings

Use our calculator to see how your savings could grow over time, or set a goal and find out how much you need to save each month to reach it.

How much are you aiming to save?

When do you want to withdraw?

Expected annual return 2.0%

Please note this calculator provides an illustration only. Your choice shouldn't be seen as an average and isn't guaranteed. Investment returns cannot be predicted and may be higher or lower than this. You can change the growth rate to see how a different level of investment return could affect the final amount.

Annual Contribution Limit Maximum £20,000 per year.

Your Monthly ISA

Based on your target, here's what you need to save

Monthly contribution (daily interest)

£76.59

Breakdown

Your contributions

£20,680.60

Total Savings

£25,850.75

*Based on 2% annual return. Subject to ISA limits.

Open a Monthly ISA

Escalator

Beat inflation and reach your goals faster by automatically increasing your monthly contribution each year.

You can add the escalator when you open your monthly ISA
Choose an amount to increase it by when the new tax year starts each April
We will let you know before the amount you save increases and you have the flexibility to change it
Increasing your regular savings by £20 a month at the start of each tax year will help you put away £2,400 more over 5 years
Save more as and when your pay increases

Key Information

Before you open your Monthly ISA, please read the key information below.

Product guide

Comprehensive guide covering all aspects of the Monthly ISA product and features.

Download PDF

Key Information Document

Detailed information about your Monthly ISA, including features, risks, and costs.

Download PDF

Application form

Don't want to apply online? Speak to our friendly team or alternatively download your application form.

Download PDF

Early withdrawals

There is a 5% penalty on withdrawals during the first year (12 months) of opening and 3% during the second year (13 - 24 months).

Market Value Reduction (MVR)

With-profits funds may apply a Market Value Reduction if investment markets have fallen. This adjustment ensures fair treatment for all investors and protects those who remain invested.

30-day cooling-off period

You have 30 days from opening your account to change your mind. If you cancel within this period, you'll receive a full refund of your contributions, though investment gains or losses may apply.

You can transfer existing ISA funds from other providers into the Monthly ISA. Speak to our friendly team who will mange the transfer process for you.

Yes, since 2024, you can pay into multiple ISAs of different types (e.g., a Cash ISA and a Stocks & Shares ISA) or even multiple ISAs of the same type in one tax year. The total amount contributed accross all your ISAs must not exceed the overall annual ISA limit.

You can do it online in a few minutes by clicking 'Open a Monthly ISA' or alternatively, speak to one of our friendly team to open your Monthly ISA over the phone.

As a NARPO Member, I’m proud to say that Police Friendly & Metfriendly has delivered financial security for me and my family.

Craig Haslam, DL FGPT, Retired Chief Superintendent

Your presenters were really good and explained what can be complicated and complex matters, in a simple and easy to understand format.

Pre-retirement seminar attendee

Little bits of saving down the line can make a huge difference to your family, whatever the future brings.

Emma Richards, third generation Retired Police Officer, Police Friendly & Metfriendly Non Executive Director

I have always been pleased with the returns from my Police Friendly & Metfriendly Policies.

Mr P Payne

With the Government’s Lifetime ISA bonus and my family chipping in, I was able to buy my first home sooner than I ever dreamed.

Mr B

Great opportunity for family Members to be offered the same offers as Members.

Miss A McLeary

Contact us directly

Get free, personalised guidance on your savings and investment options.
For serving, former and retired Police Officers, Staff and their families.
A 20-30 minute session with one of our friendly team.

Call us today

08:30 to 17:00 Monday to Thursday and 08:30 to 16:30 on Friday.

01689 891454

Send a message

Get in touch using the email below or fill in the form to get a call back.

info@mpfs.org.uk

Office

MPFS, Central Court,
Knoll Rise,
Orpington
BR6 0JA

Get directions

Request a callback

Want to talk to one of our friendly team about your options? Drop your details on the form below and we will get in touch.