Instant Access Savings
Withdraw your savings instantly anytime, and there’s no minimum deposit to get started.
Savings
Fixed Rate Cash ISA
Earn our best rate for a term that suits your savings, tax-free.
Lock in up to 4.50% AER (fixed). £500 minimum deposit.
The taxes you pay depend on your circumstances and could change in the future. Monzo current account required. UK residents, 18+. Ts&Cs apply.
The App Store, Google Play Store and Trustpilot ratings are correct as of 10 Aug, 2026.
Make more of your money, tax-free
For savings you can leave untouched.
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 Cash ISA?
It’s a Cash ISA for you to put money aside and earn a set amount of interest on, for 1, 2 or 3 years, tax-free.
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 does a Fixed Rate Cash ISA work?
A Fixed Rate Cash ISA lets you earn tax-free interest at a set rate for a set amount of time.
You can fix your savings for 1, 2 or 3 years. Your interest rate stays the same for the whole term, so you’ll know how much you’re getting and how much you’ll have at the end of the term from the start.
What’s the difference between a Fixed Rate Cash ISA and an Instant Access Cash ISA?
Both let you earn tax-free interest on your savings. With an Instant Access Cash ISA, you can add and withdraw money whenever you like. A Fixed Rate Cash ISA is designed for money you’re happy to put away for longer. You’ll get a fixed interest rate for the whole term, but you can’t take any money out until the term ends.
How do I open a Fixed Rate Cash ISA?
You can open a fixed rate Cash ISA 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. Any money you add will count towards your ISA allowance.
Can I withdraw money early?
Yes. If you need your money before the fixed term ends, you can take it all out but you’ll need to close your Fixed Rate ISA and give up some of the interest you’ve earned. We’ll show you how much this is before you withdraw.
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.
How much is the 2026/27 ISA allowance?
You can add up to £20,000 across all your ISAs (whether they're with Monzo or somewhere else) in the 2026/27 tax year.
How is interest paid?
You’ll earn the fixed interest rate shown when you open your Cash ISA and it’ll be paid at maturity.
How much can I save in a Fixed Rate Cash ISA?
You can save up to your remaining yearly ISA allowance. Your ISA allowance is shared across any ISAs you pay into, so money you’ve already added to other ISAs may affect how much you can add to this one.
What’s the difference between a Fixed Rate Cash ISA and a Fixed Rate savings account?
Both give you a fixed interest rate for a set amount of time.
The main difference is tax. Interest you earn in a Fixed Rate Cash ISA is tax-free, while interest from a regular savings account may be taxable depending on your circumstances.
A Cash ISA also has an annual ISA allowance, which limits how much you can pay into ISAs each tax year
The taxes you pay depend on your circumstances and could change in the future.
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 all flexible.
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
