Earn 4.00% APY on your savings with Monzo
No catch, no small print. Just instant access savings with a rate 8x better than the national average.*
Smart tools to supercharge your savings
You set a savings goal, and we'll help you get there. We'll work out what you need to contribute and set up automatic deposits.
Start small with no catch
No fees, no minimum deposit, and you can withdraw your money instantly whenever you need it.
The security of a fully regulated bank
Your money is FDIC-insured up to $250,000 across all of your accounts and held by a regulated bank.***
And since we don't bury the footnotes
* What’s the national average interest rate?
The national average interest rate for savings accounts is 0.45% as posted on FDIC.gov, as of 21 October 2024.
** How does FDIC insurance work? Your funds are held at Sutton Bank, Member FDIC. Though Monzo is not an insured bank, money in your Monzo account benefits from pass-through FDIC insurance that would protect up to $250,000 in the unlikely event that Sutton Bank failed. Certain conditions must be satisfied for pass-through FDIC deposit insurance coverage to apply, which you can learn more about here.
Join over 10 million people on Monzo
Download the Monzo app on iOS or Android and join more than 10 million people who've changed the way they bank.
