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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 3.25% AER interest (variable), paid monthly.

Open a Monzo account

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

  • Financial Services Compensation Scheme Protected
  • Best British Bank Award 2025
  • Current Account Switch Guarantee
  • Which? Recommended Provider 2025

Discover your new way to save

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

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, 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.

Joint Instant Access

You can open a Joint Instant Access Savings Pots within your joint account, just like your personal account. Anyone with a Monzo current account is eligible to apply for a joint account.

Money in joint savings is considered to belong equally to both people, so make sure you’re saving with someone you trust.

You'll both need a Monzo current account. UK residents, aged 18+ only. Ts&Cs apply.

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

Boost your rate with Perks and Max

Earn an exclusive rate of 3.25% AER (variable) on Instant Access Savings Pots and Joint Instant Access Savings Pots with Monzo Perks and Max. We'll pay interest monthly.

Monzo Perks is £7 per month • Aged 18+ • Ts&Cs apply

Monzo Max is from £17 per month • Aged 18-69 • UK resident • Ts&Cs apply • 3 month minimum

For joint Instant Access Savings Pots, both joint account holders must have Monzo Perks or Max to earn the boosted rate.

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.

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

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 3.25% AER interest (variable), paid monthly.

Open a free Monzo account

Compare all Monzo Savings Pots

Instant Access

Joint Instant Access

Under 16s Instant Access

Instant Access

months minimum

Features

  • Interest rate

    2.75% AER (variable)

  • Boosted interest rate

    3.25% AER (variable) for Perks & Max customers

  • Instant fee-free withdrawals

  • Savings Pot owner

    Personal current account holder

  • Roundups

  • Advanced roundups

    Perks & Max customers

  • Auto-deposits

  • Minimum deposit

    £0

Instant Access

Joint Instant Access

Under 16s Instant Access

Features

Interest rate

2.75% AER (variable)

2.75% AER (variable)

2.75% AER (variable)

Boosted interest rate

3.25% AER (variable) for Perks & Max customers

3.25% AER (variable) for Perks & Max customers

Instant fee-free withdrawals

Savings Pot owner

Personal current account holder

Both joint account holders

Parent account holder

Roundups

Advanced roundups

Perks & Max customers

Perks & Max customers

Auto-deposits

Minimum deposit

£0

£0

£0

Looking for Investments?

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

The value of your investment 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.

Questions? We've got answers

How often is interest paid on my Savings Pot?

Interest is paid directly into your Pot each month.

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?

There’s no minimum! You can start saving with as little as 1p. The maximum you can add into Instant Access and joint Instant Access Savings Pots 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.