Monzo: Launches instant access savings pot with three per cent interest rate
- Monzo is launching its first instant access savings pot with 3 per cent interest rate
- Currently the largest digital bank, with more than seven million customers
- There is no minimum deposit, and the new instant access product adds to the bank’s other in-app budgeting features
- Developed with customers, it’s designed to give everyone the flexibility to grow their money and access
- The bank already had easy access and fixed-term options on its app, with up to 3.55 per cent interest on its 12-month fixed option
- Its new instant access interest rate sits competitively among other fintech, including Chase
