Up to £250 cashback from Topcashback for opening an ISA with Shepherds Friendly.

I got the below email from Topcashback promoting the Shepherds Friendly ISA, saying that you can get up to £250 for opening an ISA with them!:
“Earn an exclusive cashback rate of up to £250 just for saving towards your future with Shepherds Friendly. Your 2016/17 ISA allowance expires in less than one month too, so now could be the perfect time to open a Shepherds Friendly Stocks and Shares ISA.
topcashback.co.uk/she…sa/

One of the main benefits of opening an ISA is the fact that your savings will be free from income tax and capital gains tax, plus you'll receive up to £250 exclusive cashback after you have paid three monthly premiums and have passed the 90 day validation period.
• Save tax-efficiently from as little as £30 a month up and to £15,240 a year
• Exclusive cashback rate ends soon: Earn up to £250 cashback
• It can run alongside your Cash ISA or Help to Buy ISA
Remember, when investing your capital is at risk.”
The cashback rates (also copied from the email) are as follows:
• “Monthly premium of £30-£99.99: £100 cashback.
• Monthly premium of £100-£499.99: £160 cashback.
• Monthly premium of £500-£899.99: £220 cashback.
• Monthly premium of £900+: £250 cashback.
• Lump sum of £5000+: £150 cashback.”
From what I can see, the terms state that you must wait at least 90 days after opening the account and making three payments before getting paid. But the payout is pretty big, so it’s probably worth the wait!! Looking at the reviews on Topcashback, they are rated 4/5 stars by people who have opened this ISA in the past.
One thing that I did some research into on their website was the risk, as it says above that ‘your capital is at risk’. It is a stocks and shares ISA which means that it is invested in the stock market and because of this, there is a chance that you might not get all of your money back. However, digging a bit deeper, you can see that they have paid 3% on the ISA for the last 5 years which is more than I’ve been getting from my savings account, so the chances of you losing money seem slim.
This is also from the Shepherds Friendly website: “All investments carry a level of risk. Our Stocks and Shares ISA carries an investment risk rating of medium to low.” Regardless of the risk anyway, if you saved at £30 a month you would get £100 cashback, so even if you had a small loss you would still stand to make some very decent money!! Plus, if the investment performs as it has done for the last 5 years then (if you keep saving) you also stand to make some money on your investment as well. It’s clear on the email that there are no charges for withdrawing, so you can take your money out when you wish once you have got your cashback.
Has anybody else had any experiences with Shepherds Friendly before? This is the first time I have heard of them, but the deal seems like a no brainer…
Full details about the plan can be found on their website. Remember to apply through Topcashback to get the cashback and not directly with Shepherds Friendly!!: topcashback.co.uk/she…sa/