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