Police mutua Guaranteed ISA

Happychappy

Hi, has anyone any knowledge of the police mutual guaranteed ISA, it would appear to be a low or no risk ISA due to the "guarantee points" where you supposedly can get back your original investment should there have been a fall or no rise in the investment? clearly I would imagine the no risk comes with very low returns? also there are no withdrawal fees or fixed term.

I always use the cash element of the ISA allowance and have done each year since the ISA was introduced, but as yet I haven't used the share side, any insight into this product or similar, much appreciated as I will use my 2012/13 together with the 13/14 at the end of the month

innovate

Did you try google?
https://www.google.co.uk/search?q=police+mutual+guaranteed+ISA&ie=utf-8&oe=utf-8&aq=t&rls=org.mozilla:en-US:official&client=firefox-a

Happychappy

innovate wrote: »

Did you try google?
https://www.google.co.uk/search?q=police+mutual+guaranteed+ISA&ie=utf-8&oe=utf-8&aq=t&rls=org.mozilla:en-US:official&client=firefox-a

Yes I have googled the product, but all I see is the advertising blurb?

My request was if anyone had any personal knowledge of this, or how it has performed etc, my previous dealings with Police Mutual on monthly saving products has not been good with the very ow rate of return, so therefore asking for anyone who has taken this out and their experience

innovate

The full T&Cs etc are all on the google list.

I don't have personal experience with it but it looks a "packaged" S&S ISA, which is more than likely loaded with fees. I would only ever do a self-select ISA myself.

jimjames

Look at the downsides.

High costs (inital charge 3.5% plus annual cost of guarantees)
Lock-in to benefit from the guarantee
No dividends included
Poor performance - as you have already experienced

A guarantee might sound attractive but although the product says no fixed term that is misleading as the guarantee only applies at a fixed time period of 5 years so if you need the money before then you won't get any guarantee.