Frequently Asked Questions

 

Here are the answers to the questions we’re most commonly asked.

If you can’t find the answer you are looking for, please feel free to email us at support@silo.co.uk

What is a JISA?

A JISA (or Junior ISA) allows you to save up to £9,000 a year for your child’s future in a tax-efficient way.

There are two types of JISA’s:

A Stocks & Shares JISA which invests in financial markets. No tax is paid on any returns or dividends received.

A Cash JISA is a tax-free savings account that earns interest. Silo does not offer a Cash JISA.

Anything saved into a JISA belongs to your child, however they will only get full access to it once they turn 18, at which time it converts into a regular Stocks & Shares ISA.