Monzo Instant Access Savings

Savings Pots in Monzo help your savings grow (and they're easier to get to than the end of a rainbow).

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

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

A flexible way to save

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 £1,000,000 in your Instant Access Savings Pot.

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's a Savings Pot?

Savings Pots are a place for you to put money aside and earn interest on it, without locking it away.

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

Start saving

Savings made seamless

Separate your savings Sort your money into up 20 Savings Pots. Give them names and images to help tell your rainy days from your holidays.

Set goals Choose targets and track your progress over time and across Pots.

Lock your Pot Keep your mitts off your money by setting a date to unlock your Pot.

Start saving

Automated ways to stash your cash

Even more handy tools to help your money grow.

Set up regular deposits

We’ll automatically add money from your main balance. Just tell us how much and how often.

Save your spare change

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

Sort your salary

Set savings aside when you’re paid, before the urge to splurge sets in.

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.

We offer Cash ISAs too

Your money grows in the same way as your Savings Pot, but any interest you earn could be exempt from UK income tax – which could help you reach your goals faster.

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.

Explore Cash ISAs

How to open an Instant Access Savings Pot

Open a free Monzo current account

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

Create a Savings Pot

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

Start saving

Name your Pot, set an optional goal 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 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.

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

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.

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.