Instant Access Savings
Withdraw your savings instantly anytime, and there’s no minimum deposit to get started.
Savings
Fixed Rate Savings
Earn our best rate for a term that suits your savings.
Lock in up to 4.50% AER (fixed). £500 minimum deposit.
Monzo current account required. UK residents only. Ts&Cs apply.
The App Store, Google Play Store and Trustpilot ratings are correct as of 10 Aug, 2026.
Make more of your money
Earn our best rate on savings you won't need for a while.
A rate you can lock in
Once you open your Fixed Rate, your rate won’t change - meaning you’ll know exactly how much your money will grow.
Locked in but never locked away
Need your money sooner? You can close your Pot early and all you’ll lose is some of the interest you earned. We’ll always show you exactly how much that is before you decide.
Your money keeps working when the term ends
When your Fixed Rate finishes we’ll move your money into an Instant Access Pot to make sure you keep earning variable interest on your savings.
What's Fixed Rate?
It’s a Savings Pot for you to put money aside and earn a set amount of interest on, for 1, 2 or 3 years.
It's designed for money you won't need for a while, and since the rate's guaranteed you'll know exactly how much your savings will be worth in the future.
Choose how you want to fix
Set money aside for a time that works for you.
1 year - 4.50% AER (fixed)
2 years - 4.20% AER (fixed)
3 years - 4.20% AER (fixed)
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 Savings Pots and Cash ISA Pots.
Check out our Understanding FSCS protection article if you’d like to learn more.
Other ways to save with Monzo
We’ve got a Savings Pot for everyone.
Start saving with Monzo
Join over 16 million personal and business customers who've changed the way they bank.
Step 1
Open a free Monzo account
It only takes 10 minutes to apply, and comes with loads of innovative features to help you save.
Step 2
Start saving, your way
Monzo current account sorted? Just head over to the Savings area in the app and create a new Savings Pot.
Step 3
Get going towards your goals
Name your pot, set optional savings targets and make your first deposit. Try out our auto-savings features to reach your goals faster.
Keep exploring
Level up your know-how with our savvy savings guides.
Questions? We've got answers.
How do Fixed Rate Savings Pots work?
A Fixed Rate Savings Pot gives you a guaranteed interest rate for a set amount of time. You put your money away for 1, 2 or 3 years and know exactly what rate you’ll earn while it’s there.
You can take your money out early if you need to, but you’ll need to close the Pot completely and give up some of the interest you’ve earned.
What terms are available on a Fixed Rate Savings Pot from Monzo?
You can fix your savings for 1, 2 or 3 years. Your interest rate stays the same for the whole term.
What’s the difference between Fixed Rate Savings and Instant Access Savings?
With Instant Access, you can add and withdraw money whenever you like.
Fixed Rate’s designed for money you’re happy to put away for longer. You’ll get a fixed interest rate for the whole term, but there’s a penalty if you need to take your money out early.
How do I open a Fixed Rate Savings Pot?
You can open one directly in the app. We’ll show you the interest rate, how long your money will be fixed for and anything else you need to know before you open it.
Once it’s open, you can see it alongside your other savings.
Can I withdraw money early?
Yes. If you need your money before the term ends, you can take it out right away.
You’ll have to close your Fixed Rate Pot and give up some of the interest you’ve earned. We’ll show you how much this is before you decide.
How is interest paid?
You’ll earn the fixed interest rate shown with your chosen term and it’ll be paid at maturity.
What’s the difference between a Fixed Rate Savings Pot and a Fixed Rate Cash ISA?
Both let you lock in a fixed interest rate for a set amount of time.
The main difference is tax. Interest you earn in a Cash ISA is tax-free and counts towards your annual ISA allowance. Interest from a regular Fixed Rate Savings Pot may be taxable, depending on your circumstances.
The taxes you pay depend on your circumstances and could change in future.
What happens when my term ends?
When your Fixed Rate term ends, your money will move into an Instant Access Savings Pot, so you’ll be able to access it whenever you like. The Instant Access Savings Pot interest rate will be different to the Fixed Rate interest rate and will be variable.
Can I add more money after I've opened it?
You can add money within 14 days of opening your Fixed Rate Pot, but after that it’s locked until your term ends.
Are Fixed Rate Savings Pots the same as fixed rate bonds?
Pretty much. Banks and savings providers use different names, but “fixed rate bond” and “Fixed Rate Savings Pot” usually describe the same kind of account - you save your money for a set amount of time in return for a fixed interest rate.
Time to go full Monzo
Use the Current Account Switch Service to close your main current account and move everything over to us. Once you’ve opened an account, tap the '+' sign in the app and find 'Switch to Monzo’.
We move your money, Direct Debits and standing orders over
We redirect incoming payments (including your salary)
We close your other bank account
You choose a switch date and we'll do the rest in 7 working days
