Monzo Instant Access Cash ISA

Instant access with tax-free interest. There when you need it, growing when you don’t.

Earn up to 3.25% AER interest (variable), paid monthly.

The taxes you pay depend on your circumstances and could change in the future. Monzo current account required. UK residents only. Ts&Cs apply.

All the interest, none of the tax

Earn from 2.75% to 3.25% AER interest (variable) on your money, depending on your subscription plan.

Withdraw instantly, anytime

There’s no waiting around. You’ll get your money right away – ideal if the unexpected happens and you need quick access to your savings.

No minimum deposit needed

No need to deposit a single penny to open your Pot. Add up to £20,000 per year in your Cash ISA.

Earn 3.25% AER (variable)

Earn an exclusive rate with Monzo Perks. Monzo Perks is £7 per month. UK residents aged 18+, Ts&Cs apply.

What is a Cash ISA?

Cash ISAs are savings accounts that earn tax-free interest. That means you don't pay UK income tax on the interest earned, so your money can grow faster.

The taxes you pay depend on your circumstances and could change in the future.

Start saving

Many Pots, one Cash ISA

You can have multiple Pots within the same Cash ISA, helping to organise your money - whether it’s for a holiday, a rainy day fund, or a house deposit.

This means you can spread your annual ISA allowance across different savings goals, and move money between them without ever leaving your Cash ISA.

Start saving

Savings made seamless

Cash ISAs come with a whole host of innovative features to help saving feel effortless.

Regular deposits

We’ll automatically move money from your main balance to your Cash ISA. Just tell us how much and how often.

Save your spare change

Turn on Roundups and we’ll put the spare change into your Cash ISA whenever you spend.

Set savings goals

Make your bucket list a reality by setting savings targets and tracking your progress over time.

FSCS protected

We’re a fully regulated UK bank and your eligible deposits are protected by the Financial Services Compensation Scheme (FSCS) up to £120,000 per person. This includes money in your Instant Access Savings Pots and Instant Access Cash ISA.

Check out our Understanding FSCS protection article if you’d like to learn more.

Keep your savings safe

Extra security controls give you another layer of protection when making big bank transfers and withdrawing from your savings.

Pay from a known location, confirm it with someone you trust, or scan a secret QR code to prove it’s really you.

How to open an Instant Access Cash ISA

Open a free Monzo current account

It takes less than 10 minutes to apply, straight from the Monzo app.

Create a Cash ISA

Monzo current account sorted? Just head over to the Savings area, create a new Pot and choose a Cash ISA.

Start saving

Name your Pot, set optional goals and make your first deposit. Earn up to 3.25% AER interest (variable), paid monthly.

Open a free Monzo account

Questions? We've got answers

How does an Instant Access Cash ISA work?

You can save up to £20,000 each tax year and earn tax-free interest, with instant access to your money whenever you need it.

The taxes you pay depend on your circumstances and could change in the future.

What is an Instant Access Cash ISA, and how is it different from a regular Instant Access Savings Account?

You can add up to £20,000 each tax year, tax-free, in an Instant Access Cash ISA, while any interest you earn in a regular saving account is taxed.

The taxes you pay depend on your circumstances and could change in the future. Interest earned in a Cash ISA is exempt from UK income tax.

Is there a minimum or maximum deposit amount?

There’s no minimum! You can start saving with as little as 1p. The maximum you can add each tax year is £20,000.

How much can I pay into my Monzo Cash ISA each tax year?

You can add up to £20,000 across all your ISAs (whether they're with Monzo or somewhere else) each tax year.

Will I pay tax on the interest I earn?

No, you won’t pay tax on any interest you earn. All interest is tax-free.

The taxes you pay depend on your circumstances and could change in the future.

Can I transfer an existing ISA (Cash or Stocks & Shares) from another provider to Monzo? How long does it take?

No, you can't transfer an existing ISA to a Monzo Cash ISA. But, you can transfer into a Monzo Stocks & Shares ISA. Transfers can take up to 30 days.

Who is eligible to open a Monzo Instant Access Cash ISA?

As long as you’re a UK resident aged 18 or over, you can open a Monzo Instant Access Cash ISA.

What is the annual ISA allowance for the current tax year?

The annual ISA allowance is £20,000 for the current tax year.

What's a flexible ISA?

A flexible cash ISA lets you take money out and put it back in within the same tax year, without it counting towards your ISA allowance.

It can save you from losing your ISA allowance if you need to access your savings temporarily.

Our Cash ISAs and Stocks & Shares ISAs are both flexible.

Start saving with Monzo today

Download the Monzo app on iOS or Android and join more than 14 million personal and business customers who've changed the way they bank.