What interest rate does the Monzo Fixed Rate Cash ISA pay?

The Monzo Fixed Rate Cash ISA pays 4.60% AER fixed.

How much interest could I earn?

Saving £10,000 for 3 years would earn about £1,444 at 4.60% AER. This assumes the rate stays the same and interest stays in the account.

How much can I pay in?

You can deposit at least £500 and up to £20,000.

Can I withdraw my money?

No. Withdrawals aren't allowed until the account matures.

When is interest paid?

Interest is paid at the end of the term.

Who can open this account?

New and existing Monzo customers can open it. You can open it in the app.

Is my money protected?

Yes. Eligible deposits are protected by the Financial Services Compensation Scheme (FSCS) up to £120,000 per person, per banking licence.

How does it compare with other three-year cash ISAs?

At 4.60% AER it ranks 19th of 28 three-year cash ISAs we track. The best pays 5.13% and the average is 4.67%.

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Cash ISA

Monzo Fixed Rate Cash ISA Review

A three-year cash ISA from Monzo. It ranks 19th of 28 three-year cash ISAs we track.

Rate checked Oct 2026Got this account? Leave a review

Fixed rate · 3 years

4.60%AER

Needs a Monzo current account

Rate checked Oct 2026Got this account? Leave a review

Protection

FSCS£120,000

Min balance

£500

Max balance

£20,000

Access

At maturity only

Interest paid

On maturity

How It Stacks Up

Ranks 19th of 28

3-year cash ISAs we track

Just below average

This account 4.60%

UK CPI (Aug 2026): 3.10%; Pays 1.50% more
Average 3-year cash ISA: 4.67%; Pays 0.07% less
Best 3-year cash ISA: 5.13%; Pays 0.53% less

Inflation: ONS. Averages and best rates: accounts on DepositScout.

Compare cash ISAs

A Good Fit For

Pro: Flexible: take money out and put it back in the same tax year without using more allowance

Worth Weighing Up

Con: Your money is locked in for 3 years
Con: You need a Monzo current account to open it

Good to Know

Monzo current account required; UK residents aged 18+. Same rate on every Monzo plan. Monzo's Cash ISAs are flexible.

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Estimated returns with Monzo's Cash ISA

What you could earn with Monzo's Fixed Rate Cash ISA.

Estimated interest

£1,000 saved

£144

At 4.6% AER

£5,000 saved

£722

At 4.6% AER

£10,000 saved

£1,444

At 4.6% AER

£20,000 saved

£2,889

At 4.6% AER

Estimated over the 36-month term, if the rate stays the same and interest is left in. Amounts outside the account's minimum or maximum aren't shown.

Our Expert Opinion on Monzo Fixed Rate Cash ISA

Jan WatermannCo-Founder, DepositScout

Monzo's Fixed Rate Cash ISA pays 4.60% fixed for three years, which sits near the market average for Cash ISAs and is 0.53% behind the current category leader at 5.13%. The rate does beat August 2026 CPI inflation of 3.1% by 1.50%, so your money grows in real terms, but if you want a better three-year fixed ISA rate, Charter Savings Bank's 3 Year Fixed Rate Cash ISA is available at 4.96%. The main catch here is that access is completely locked until maturity, with a maximum deposit of £20,000 and a minimum of £500.

Compare Cash ISAs