Save £667.95 in 2026 with the 1p Saving Challenge
The 1p Saving Challenge involves saving a little money every day. Start with a penny. End up with £667.95 and a chance to win £10,000*.
By setting money aside little and often, the idea is you’ll find it easier to make room in your budget for saving, and start a habit you’ll hopefully continue.
And if you’re a Monzo Extra, Perks or Max member†, you can unlock new challenge levels to save 2x or 4x the amount. Plus, you’ll be entered into monthly £100 prize draws** and earn 5% AER (variable) interest on everything you save as part of the challenge, paid monthly.
Automate the 1p Saving Challenge with Monzo
Over 1 million people joined the 2025 Saving Challenge. Why not be part of it in 2026?
When you sign up for the 1p Saving Challenge with Monzo this January, we'll move 1p from your personal account to your Challenge Pot on day one of your challenge. Then 2p on day two, 3p on day three, and so on. On day 30, you'll have £4.65. Halfway through, you'll have £168.36. Make it to day 365 of your challenge and you'll have saved £667.95.
You can pause the challenge at any time, and withdraw your money instantly if you need to.
1p savings challenge chart
Need a hand picturing how your savings will stack up? Try this 1p savings challenge chart — it shows exactly how your money adds up over the year.
“My favourite way to save using Monzo is the 1p Saving Challenge”
Anwar***, 28, is a resident doctor based in Birmingham. He earns £39k a year, which includes income from work he does alongside his main NHS role.
As someone with a busy and demanding job – he works 50 hours a week and often works weekends and nights – Anwar particularly values being able to automate his money. It saves him time and mental energy which he can spend on socialising and playing sport instead.
So far, he’s built up £9k in savings, and the 1p Saving Challenge has contributed to that. His goal is to save £20k for a house deposit, which he’s now confident he’ll be able to achieve.
“I’ve been doing the 1p Saving Challenge through Monzo. The money leaves my current account and automatically goes straight into my [challenge] Pot, so it's pretty useful.
“Towards the end of the year it gets a bit challenging, when it’s £3 or more leaving your account each day. [But] it's reassuring to know that if something bad happens, I have money saved without me even having to do anything.
“Things like the 1p Saving Challenge really emphasise that little bits help.”
If you have a free, Plus or Premium account
If you’ve got a free, Plus or Premium current account, you can only join our 1p Saving Challenge if you start before 31 January 2026. After that it’s only available for customers with Monzo Extra, Perks or Max.
The bonus? If you start the 1p Saving Challenge in January 2026, whether you’ve got a free account or you’re on a paid plan, you’ll be in with a chance to win £10,000*. All you have to do is save throughout the year and end up with at least £667.95 in your pot by day 365 of your challenge.
If you have an Extra, Perks or Max plan
If you've got a Monzo Extra, Perks or Max plan† (excluding free trials), you can unlock new challenge levels and bigger savings.
New levels: You can stick to the usual 1p Saving Challenge, or take things to the next level. This year you can 2x your daily savings to reach £1,335.90. Or 4x your daily savings to reach a huge £2,671.80. Switch levels at any time – your new level will start from the next day. So if you switch to the 2x level on day 10, you’ll save 22p on day 11.
Earn interest on your savings: Give your daily savings an extra boost with 5% AER (variable) interest. We’ll pay it into your Challenge Pot on the 1st of every month, as long as it’s 1p or more. The rate is variable, which means we can change it.
Plus, if you’re a Monzo Extra, Perks or Max subscriber who joins the 1p Saving Challenge in January 2026, you could be in with a chance of winning £100 each month. As well as having a chance to win the £10,000* prize draw, there are one hundred £100 prizes** up for grabs each month between February 2026 to January 2027. But remember, this is only for subscribers who sign up for the challenge before the end of January.
*For a chance to win £10,000, start by 11:59:59 pm on 31 January 2026. You’ll need to have at least £667.95 (excluding interest) in your Challenge Pot and have caught up on all your daily savings at 11:59pm on day 365 of your challenge. UK residents. Aged 18+. One entry per person. You must have a Monzo personal account. Ts&Cs apply.
**For a chance to win the monthly prize draw, start by 11:59:59pm on 31 January 2026. You must have Monzo Extra, Perks or Max (excluding free trials) and have caught up on all your daily savings by the end of the month. UK residents. Aged 18+. One entry per person. You must have a Monzo personal account. Ts&Cs apply.
***We’ve changed his name.
†Plans start from £3 a month. UK residents, 18+. You must have a Monzo personal account. Ts&Cs apply.