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Savings

Instant Access Savings

Earn up to 3.25% AER interest (variable), paid monthly. Always with instant withdrawals, no minimum deposit and up to 20 different Savings Pots.

Open a free Monzo account
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Monzo current account required. UK residents only. Ts&Cs apply.

16 million customersbank with Monzo

4.9

App Store

4.8

Google Play

4.6

Trustpilot

FSCS protected
Which? recommended current account provider
Best banking app – British Bank Awards

The App Store, Google Play Store and Trustpilot ratings are correct as of 27 Apr, 2026.

A flexible way to save

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

Open a free Monzo account

    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.

    Start saving
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    No minimum deposit needed

    You don't even need a penny to open an Instant Access Savings Pot. And once it's ready, you can save up to £1,000,000.

    Start saving
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    Boost your interest rate

    Want to see your savings grow faster? Earn a higher rate of 3.25% AER variable with Monzo Perks.

    Start saving

    Monzo Perks is £7 per month. UK residents aged 18+, Ts&Cs apply.

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    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.

    Start saving
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    What's a Savings Pot?

    Savings Pots are a place for you to put money aside and earn interest on it, just like a savings account.

    They’re different to Monzo’s regular Pots, which help with day-to-day budgeting (and don’t earn interest).

    Start saving
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    Savings made seamless

    Handy tools to help your money grow.
    Start saving
    A smartphone displaying a Monzo app interface confirming a fifty-pound deposit transfer into a specific savings pot.
    A smartphone displaying a Monzo app interface confirming a fifty-pound deposit transfer into a specific savings pot.
    A smartphone displaying a Monzo app interface confirming a fifty-pound deposit transfer into a specific savings pot.

      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.

      Start saving
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      Other ways to save with Monzo

      We've got a Savings Pot for everyone.

      Select Access Savings

      Earn a higher rate for fewer withdrawals over each year, £500 minimum deposit.

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      Cash ISAs

      Make Instant Access or Select Access an ISA for tax-free interest on your savings.

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      Joint savings

      Partner, spouse, housemate or soulmate – it’s shared savings made simple.

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      Under 16s

      A bank account for your little ones, with controls set by you. Help them build healthy savings habits.

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      Cash ISAs: 18+, U16s: Ages 6-15. Parent/guardian and Under 16s account needed.

      Start saving with Monzo

      Join over 16 million personal and business customers who've changed the way they bank.
      Open a free Monzo account

      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 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.

      Different types of savings accounts

      The clue is in the name – savings accounts are a place to keep your money and earn interest on it. There are lots of different types, and the interest rates, fees and tax on interest will vary depending on which one you choose.

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      What's compound interest?

      Ever heard the phrase "make your money work for you"? It sounds a bit like a cheesy line from a film, but it’s actually a real thing. And one of the most powerful ways to do it is with something called compound interest.

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      ISAs explained

      An ISA (which stands for Individual Savings Account) is a tax-free account for cash or investments. There are several different types of ISA – including cash, Lifetime, stocks and shares, Innovative Finance and Junior ISAs – that all have different features and payment limits.

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      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*.

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      Questions? We've got answers.

      How quickly can I withdraw my money?

      You can withdraw your money instantly, as many times as you like. There’s no waiting around with delays or limits.

      Are there any limits or restrictions on withdrawals?

      No, there aren’t. You can make as many withdrawals as you like, whenever you like.

      Can I open a joint Instant Access Savings Pot?

      Yes, if you want to share savings with a partner or loved one, you can open a joint Instant Access Savings Pot. Money in joint savings is considered to belong equally to both people so make sure you’re saving with someone you trust. Even if one of you contributes a lot more money to your joint Savings Pot, legally anything in the account is split equally.

      What is AER and is it variable?

      AER stands for Annual Equivalent Rate. It is the standard way banks and building societies show the interest rate on savings accounts to help you compare them fairly. Variable means the rate could change at any time.

      When is interest paid?

      Interest is paid monthly, directly into your Pot.

      Who can open an Instant Access Savings Pot?

      Anyone aged 16+ with a Monzo current account can open an Instant Access Savings Pot.

      What is the difference between Instant Access Savings Pots and Instant Access Cash ISAs?

      Instant Access Savings Pots let you put money aside and earn interest, while Instant Access Cash ISAs let you save tax-free. You can add up to £20,000 across all your ISAs (whether they're with Monzo or somewhere else) each tax year.
      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 deposit in total is £1,000,000.

      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’.

      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

      Current Account Switch Guarantee Logo

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