Protection
FSCS£120,000
Min balance
£1
Max balance
£20,000
Access
Instant
Interest paid
Monthly
Transfers in
Not accepted
Rate Tiers
Paid plan
3.50%AER
From £3/month
Standard (free)
2.75%AER
Free Monzo account
How It Stacks Up
Ranks 80th of 137
Cash ISAs we track
This account 2.75%
- UK CPI (Aug 2026)
- 3.10%
- Pays 0.35% less
- Average cash ISA
- 2.98%
- Pays 0.23% less
- Best cash ISA
- 4.87%
- Pays 2.12% less
Inflation: ONS. Averages and best rates: accounts on DepositScout.
A better-paying alternative
Trading 212
Cash ISA
4.60%
AER
- Pays 1.85% more than this Monzo account
- Includes a 1.00% bonus for 12 months, then 3.60%
We may earn a commission if you open this account.
A Good Fit For
- Pro: New and existing savers
- Pro: Savers who want instant access
- Pro: Savers who want a monthly income
- Pro: Flexible: take money out and put it back in the same tax year without using more allowance
Worth Weighing Up
- Con: The rate is variable, so it can go down
- Con: It doesn't accept transfers in from other ISAs
Good to Know
The account is a flexible ISA, so withdrawn funds can be replaced within the same tax year without affecting the annual allowance.
Please verify all details with the provider – see our Disclaimer
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