A friendly alternative to banks and building societies
Tax-free savings, ISAs, investments, children's savings and life insurance for you and your family.
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Trusted -
Straightforward & clear -
Since 1892 -
Expert & dedicated team
We're still working
As the current global situation surrounding Covid-19 continues, we wanted to update everyone that whilst we still aim to maintain our excellent service levels, our usual telephone and postal service levels may be impacted to some degree. Read the full update here.
What we do
We’re an independent financial mutual organisation, which means we’re owned by our customers (known as members).
Our members are the people we care about the most. Any surplus profit is distributed to provide you with the best possible returns combined with the highest standards of personal service and ethical business practices.
How can we help?
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Tax Exempt Savings Plan
Our Tax Exempt Savings Plan (TESP) with guarantees allows you to save tax-free in addition to or separately with your ISA allowance
- Save between 10 and 25 years
- Plans start from just £5 a month
- Available for adults and children
Learn moreRegular Savings Plan
Want to save a little extra? Our Regular Savings Plan gives you the ability to save over your Tax Exempt Savings Plan allowance
- Save between 10 and 25 years
- Potential bonuses
- Better potential return than a cash savings account
Learn moreRegular Premium Investment ISA
Boost your financial goals, whatever they may be; with our flexible and simple Investment ISA
- Save from just £30 a month
- Access to your money if you need it
- Potential for tax-free investment growth through bonuses
Learn more -
Single Premium Investment ISA
Enjoy potential growth on your savings with annual and final bonuses. The best bit? It's tax-free.
- Invest a lump sum from just £300
- 2020/21 interim bonus rate is 3.50%
- Save £20,000 this tax year
Learn moreInvestment Bond
Make your money work harder for you with our medium to long-term Investment Bond
- Invest from £1,000 to £150,000
- Guaranteed minimum return of 103% after five years
- Potential for growth through annual and final bonuses
Learn moreIncome Bond
Want to see potential growth on your investment whilst taking an income? Well you're in luck, our Income Bond could be the perfect plan for you
- Invest a lump sum of up to £150,000
- Option to take an income of 1-5%
- Potential for investment growth through bonuses
Learn moreCapital Plan
Invest a lump sum of £2,500 now and we’ll use it to make annual payments of £270 into a Tax Exempt Savings Plan for the next ten years.
- A fixed ten year plan
- Combines an exclusive feeder account with a TESP
- A guaranteed minimum return
Learn more -
Investment Junior ISA
Give your child a financial head start in life with our Junior ISA and watch the tax-free savings grow
- Save from as little as £10 a month
- Top-ups can be made by anyone
- 2020/21 interim bonus rate is 3.75%
Learn moreChildren's Tax Exempt Savings Plan
It's never too early to start saving for a child you care about, our Tax Exempt Savings Plan provides an additional tax-free allowance in addition to their Junior ISA
- Anyone can open a plan
- Choose a plan between 10 and 25 years
- Save from £5 a month
Learn moreChildren's Regular Savings Plan
Want to save a little extra for a child's future? Our Regular Savings Plan gives you the ability to save over your tax exempt savings plan allowance
- Save for the longer-term
- Perfect way to save for something special
- Guaranteed final amount on maturity plus possible bonuses
Learn moreChildren's Investment Bond
Invest in a child's financial future with this medium to long-term lump sum investment
- Invest a lump sum between £1,000 and £150,000
- Guaranteed minimum return of 103% after five years
- Quick and easy application process
Learn moreChild Trust Fund
Originally set up by the government, a Child Trust Fund (CTF) is a long-term tax-free savings account for children. You can no longer apply for a new Child Trust Fund because the scheme is now closed.
- Transfer an existing CTF to us
- Find out if your child could already have a CTF
- Junior ISA alternative available
Learn more -
Sheffield Protect
This 'whole of life' plan is a simple and affordable way of providing a legacy for a loved one with the option to nominate a beneficiary
- A guaranteed fixed lump sum paid on your death
- Affordable premiums from just £5 per month
- Help towards funeral expenses
Learn moreTax Exempt Savings Plan with Life Insurance
Tax-free savings with the added benefit of life insurance for you and your loved ones
- Protection for you and your family
- Guaranteed amount on maturity or death
- Plan only available through friendly societies
Learn more
All references to taxation are based on the Society’s understanding of current tax legislation and practice, which may change in the future.
Need help choosing the right product?
We created a handy tool to help you make the best decision when it comes to your savings and investments.
Product selectorHelp & support See all help & support articles
We are here for you at all stages of your journey; our support articles cover a broad range of topics, and are designed to put you in control of your money.
What is a friendly society?
Saving for your child’s future
What is a market value reduction?
A guide to qualifying life policies
Why choose Sheffield Mutual
Trusted, fair & ethical
We do not invest knowingly or directly in industries relating to armaments, tobacco, gambling or pornography
About us
Dedicated team
Experienced and knowledgeable, our team is made up of professionals from a range of backgrounds and industries
Meet the teamWhat our members say
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