We've added new interest rates for Savings Pots!

Read the article

We’re making opening and managing a savings account easier than with any other bank. We’re doing it by letting you round-up your purchases to the nearest pound and putting the spare change in your Savings Pot. We’ve integrated with automation platform IFTTT so you can set up smart savings rules, like putting £5 away when it rains.

You can open a Savings Pot in under three minutes, all right in the Monzo app. And you can even add some fun images to keep you on track.

We've added new rates for Savings Pots of up to 1.81% (AER/Gross)

We’re now offering up to 1.81%* (AER/Gross) on Fixed Savings Pots and 1.15%* (AER/Gross variable) on Easy Access Savings Pots. These are the highest rates we’ve ever seen for Monzo Savings Pots!

Top rates provided by Charter Savings Bank

Savings pots

We’re growing our marketplace all the time, and recently welcomed Charter Savings Bank. They’re backing our leading Easy Access Savings Pot as well our top 12 and 6 month Fixed Savings Pot products. 

(Just so you know, we earn 0.2% commission from our savings providers.)

We want to help your money grow faster

Financial Conduct Authority (FCA) data shows that almost 50% of the money held in easy access savings accounts in the UK is earning less than 0.5% in interest. Around 77% is earning less than 1%. 

We know some people find it convenient to have their Savings in the same place as their current account, but in some cases people are paying a price for this convenience. We want to make it easier to have all your money in one place and still get a strong interest rate.

*Interest rates are true as of 9th August 2019 on Savings Products with a minimum deposit greater than £500.