What interest rate does the Monzo Fixed Rate Savings pay?

The Monzo Fixed Rate Savings pays 4.60% AER, fixed for 3 years.

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.

Can I withdraw my money?

No. Your money is locked in until the fixed term ends, so only put in what you won't need before then.

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 fixed rate bonds?

At 4.60% AER it ranks 27th of 47 three-year fixed rate bonds we track. The best pays 5.20% and the average is 4.70%.

Dashboard

Fixed Rate

Monzo Fixed Rate Savings Review

A three-year fixed rate bond from Monzo. It ranks 27th of 47 three-year fixed rate bonds 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

No limit

Access

At maturity only

Interest paid

On maturity

How It Stacks Up

Ranks 27th of 47

3-year fixed bonds we track

Below average

This account 4.60%

UK CPI (Aug 2026): 3.10%; Pays 1.50% more
Average 3-year fixed: 4.70%; Pays 0.10% less
Best 3-year fixed: 5.20%; Pays 0.60% less

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

Compare fixed bonds

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 only. Same rate on every Monzo plan.

Please verify all details with the provider – see our Disclaimer

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Estimated returns with Monzo's Fixed Rate

What you could earn with Monzo's Fixed Rate Savings.

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

£50,000 saved

£7,222

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.

Work out the tax on your interestSee how much of this interest could be taxed.

Our Expert Opinion on Monzo Fixed Rate Savings

Jonny PeaseCo-Founder, DepositScout

Monzo's three-year fixed rate of 4.60% sits 0.77% below the best rate available across fixed-rate bonds at 5.37%, putting it below the market average, so it is hard to recommend on rate alone. That said, 4.60% does beat August 2026 CPI of 3.1% by 1.50%, meaning your money at least grows in real terms. The main catch is the complete lack of access until maturity, with interest only paid at the end of three years, so only commit money you are certain you will not need. You need at least £500 to open the account.

Compare Fixed Rate Bonds

2 alternatives to Monzo's Fixed Rate Savings3 alternatives to Monzo's Fixed Rate Savings

Same type of account, closest on rate.

Common questions about the Fixed Rate Savings

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