Interest rates

(Chris Wakeford) #1

I have 80k to invest-what rate will I get please?



(MikeF) #3

Monzo only offers current accounts and does not pay interest.

(Jamie 🏳️‍🌈) #4

In fact, it’s worse than a simple 0%. Inflation is at a six year high of 3.1%. If you put £80k in a Monzo account, in a year’s time you’ll have less buying power than today, in real terms.


big man :joy::joy::joy::joy:

(Ben) #6

Depends where you put it.


Even at Starling it is hardly worth it with 2.5‰ on balances between £2,000-85,000 and 5‰ on balanced between £0-2,000

You are better off not putting large sums of money in a current account. With smaller sums it is irrelevant where you put it.


Your decimal point is in the wrong place.

Needs to move to the left one point.

Otherwise, 2.5% and 5% would be good returns in the current climate.

Or does that extra bubble after % represent something I haven’t seen before?

(knows someone who knows Tom quite well) #9

It means ‘move the decimal point one point left’ :wink:


Never seen that before.

Learn something new every day.

Not sure why anyone would use it though, instead just put the decimal point in the right place to start with.:grinning:

(Lawrence Ferguson) #11

I very nearly.posted same…then noticed the unusual symbol :smile:

(Andrew Schofield) #12

Yeah, its the per mille symbol (as in per thousand).

(Jamie 🏳️‍🌈) #13

If it does mean per mille then it’s the equivalent of a salesperson’s sleight of hand, in a “what do you mean you didn’t realise it wasn’t 5%, we used the correct mathematical symbol no one’s ever heard of ” kind of way

Just say 0.5%

(Andre Borie) #14

No interest on Monzo accounts I’m afraid, I guess that’s the price you pay for good service, which is actually nice enough as it allows the less fortunate to enjoy a good experience without paying any of their money. In some countries it’s actually worse, not only do you not get interest but you actually pay for your bank account, even a basic one.

(Patrick) #15

I wish all salesmen pull that trick on me when giving me credit. Would happily pay 20‰ APR instead of 20% when buying a sofa or car :joy:


Thank you for using that symbol! Really surprising that it doesn’t appear to be general knowledge in the UK - we learned about that in or around 5th grade, and its commonly used in Germany…

Tangentially related rant: It is beyond me that it is apparently accepted practice in the UK to write ‘pc’ rather than ‘%’. As a physicist I get almost physically sick at the sight of an inflation rate of “3.1pc” - Although a temperature of “8C”, or an area of “5 sqm” is even worse!

(Andrew Schofield) #17

The per mille term isn’t really used in the UK very much at all in contrast to continental europe, hence people being confused by it.

I think the continued use of pc instead of % is a hangover from the days when print media didn’t have the % symbol in their typeset and wrote pc instead. Similarly for °C and . Nowadays its just laziness.


He asked about investing in Monzo not about savings account ? I think question is about Monzo shares


Yes it is per mille. Just as we were taught to use 5mm instead of 0.5cm, we were taught to use per mille (‰) instead of percent (%) if it avoided use of a decimal point.

PS: On my Android keyboard a long press of my % key brings up ‰


the abbreviations in UK/US that annoy me are “m” on road signs for miles when it could be metres or minutes, and k.p.h. for kilometres per hour when it should be km/h