Silo is an application for Android devices that helps users learn how to save money and invest in various funds. The utility is the official mobile client of the British company Killik Intelligent Savings Limited.
How to use
To use this app, users need to create a profile with their personal data. It is possible to attach a bank account to it.
The utility generates a personal savings plan for users and calculates how much they can save without harming themselves and the family budget. With the help of this service, the accumulated funds are invested in a portfolio of various funds managed by Killik & Co.
Accounts and savings
There are three types of accounts available. They allow you to invest:
- a fixed amount per year tax-free;
- any amount without tax benefits;
- up to £9,000 with benefits for a child.
The application can calculate for the user not only monthly and weekly but also daily amounts of savings. It is possible to replenish the account at any time as well as to make instant transfers of funds. There are no commissions for these activities.
Additionally
Support service is provided that is ready to answer users’ questions on business days. The app ensures the security of information transmission by using data encryption. Your assets are insured and protected by FSCS.
Features
- helps users learn how to save money and invest, similar to Investopedia;
- it is possible to accumulate funds;
- generates a personal savings plan;
- app is free to download and use;
- compatible with current Android versions.
