Money grows in Savings Pots

Saving for a renovation or retirement? Whatever your goals, there are lots of ways to go about growing your money in Monzo.

Earn up to 4.70% AER (fixed), paid at maturity.

Open a Monzo account

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

Discover your new way to save

Check out all of our Savings Pots in a handy-dandy comparison table.

Access that works for you

Whether it's Instant, Select or Fixed, you can choose a way to save that suits you best.

Sort your savings

Need it soon? Instant Access. Plan to need it later? Earn more interest with Select Access.

Boost your interest rate

Earn an exclusive rate on Instant and Select Access with a Monzo paid plan. From £3 a month, 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, 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).

Instant Access

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

You can have up to 20 Savings Pots within your personal or joint account. Give each Pot a name and add an image to help you tell your rainy days from your holidays.

Explore Instant Access

Select Access

Grow your money faster without locking it away and get a higher rate for making 2 (or fewer) withdrawals a year.

Earn up to 3.65% AER (variable), paid monthly. £500 minimum deposit.

Explore Select Access

Fixed Rate

Earn our best rate on savings you won't need for a while. 1, 2 and 3 year terms available.

Earn up to 4.70% AER (fixed), paid at maturity. £500 minimum deposit.

Explore Fixed Rate

Under 16s Instant Access

Give your child a head start with the account that makes saving feel like a superpower.

You’ll need our free Under 16s account to set up savings for them. Then add money to their savings and see their progress in just a few taps.

Ages 6-15, UK residents. Parent/Guardian account needed. Ts&Cs apply

Explore Under 16s savings

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.

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.

The taxes you pay depend on your circumstances and could change in the future. 18+ only.

Explore Cash ISAs

How to start saving with Monzo

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 Pot.

Start saving

Name your Pot, set an optional goal and make your first deposit. Earn up to 4.70% AER (fixed), paid at maturity.

Open a free Monzo account

Looking for Investments?

If you’ve got saving sorted, investing could be a great next step.

The value of your investments can go up and down and you could get back less than you put in.

Monzo current account required. UK residents 18+. Ts&Cs apply.

Check out Monzo Investments

Questions? We've got answers

How often is interest paid on my Savings Pot?

Instant Access and Select Access interest is paid directly into your Pot each month. For Fixed Rate, interest is paid at maturity.

Do I need a Monzo Current Account to open a Savings Pot?

Yes, you need a Monzo current account to open a Savings Pot.

Can I open a joint Savings Pot?

Yes, you can open a joint Savings Pot as long as you’re a UK resident, 18+ with a Monzo current account.

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.

Can I set up automatic savings rules (like Roundups or Salary Sorter)?

Yes, you can set up automatic savings rules with Monzo. Use Roundups to automatically save your spare change, or Salary Sorter to split your income between Bills, Spending, and Savings.

Is my money safe? Are all Monzo Savings Pots protected by the FSCS?

Yes. 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.

Is there a minimum or maximum deposit amount?

For Instant Access Savings, there’s no minimum! You can start saving with as little as 1p. For Select Access Savings and Fixed Rate Savings, the minimum deposit is £500. The maximum you can add into Instant Access, Select Access and Fixed Rate Savings is £1,000,000.

Start saving with Monzo today

Download the Monzo app on iOS or Android and join more than 16 million personal and business customers who've changed the way they bank.