# Say hello to Fixed Rate Savings 🔒 **URL:** \ **Category:** Monzo Chat\ **Created:** [17 September 2026 09:12 UTC](https://community.monzo.com/t/say-hello-to-fixed-rate-savings/197681 "2026-09-17T09:12:56Z")\ **Posts on this page:** 20\ **Page:** 1
**Author:** ![harrisonh](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/harrisonh/32/106433_2.png) [@harrisonh](https://community.monzo.com/u/harrisonh)\ **Post date:** [17 September 2026 09:12 UTC](https://community.monzo.com/t/say-hello-to-fixed-rate-savings/197681/1 "2026-09-17T09:12:56Z")
Hey everyone 👋 I’m Harrison from the Savings team, and I’ve got some more exciting news to share. ### **We’re launching Fixed Rate Savings Pots - and they’re available as a Cash ISA too** We know flexibility matters when you’re saving. But for money you’re happy to put away for longer, you might prefer to know that your interest rate won’t change. That’s where Fixed Rate Savings come in. ### **What’s a Fixed Rate Savings Pot?** A Fixed Rate Savings Pot lets you put your money away for **1, 2 or 3 years** , earning a fixed interest rate for the whole time. The rate is locked in when you open your Pot and won’t change during your chosen term. Unlike Instant Access or Select Access, you can’t make withdrawals during the term. So it’s designed for money you don’t expect to need for a while. ### **What will I earn on my savings?** Our **1-year Fixed Rate Savings Pot pays 4.50% AER (fixed)**. We also offer 2 and 3-year terms. You can see their latest rates in the Monzo app. Interest is earned daily and is paid when your chosen term ends. 1-year rate correct at 17/09/2026. See the latest rates in the Monzo app. ![Fixed Rate](https://global.discourse-cdn.com/monzo/original/3X/4/7/4785b8180a21636fd58b7ccbaf631a2a4cb810a4.jpeg) ### **Keep it tax-free with a Fixed Rate Cash ISA** Fixed Rate is also available as a Cash ISA, so you can earn your interest tax-free. And because Monzo supports multiple Cash ISA Pots, you can hold Fixed Rate alongside Instant Access or Select Access Pots within the same Cash ISA. Any money you put into your Fixed Rate Cash ISA Pot will follow the access rules for your chosen term. Transferring a Cash ISA from another provider directly into Fixed Rate won’t be available at launch, but we’re working on adding this soon. ### **How to open your Fixed Rate Savings Pot or Cash ISA Pot** 1. Head to **Grow Tab** , then **Savings** 2. Tap Create Savings Pot. 3. Choose **Fixed Rate savings**. ### **Things to know** - **Choose your term:** You can put your money away for 1, 2 or 3 years. - **Minimum deposit:** You’ll need at least £500 to open a Pot. - **Adding money:** You’ll have 14 days after opening your Pot to add more money. After that, you won’t be able to make further deposits into that Pot. - **Getting your money early:** You can close your Pot before it matures, but you’ll lose some interest. On a 1-year Pot, you’ll lose 90 days’ interest. The cost for longer terms will be shown clearly in the app before you open your Pot. This won’t affect your original deposit. - **At maturity:** We’ll move your balance and interest into an Instant Access Pot by default, so it can keep earning interest (variable). We’ll remind you beforehand and give you the option to choose somewhere else. If you can’t see Fixed Rate Savings yet, don’t worry. We’re rolling it out gradually, so you’ll have access soon. Let us know what you think! Happy saving! * * * _Monzo current account required. UK residents only. Ts&Cs apply._ _Cash ISA for customers aged 18 or over. The taxes you pay depend on your individual circumstances and could change in the future._ ---
**Author:** ![jo](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/jo/32/119789_2.png) [@jo](https://community.monzo.com/u/jo)\ **Post date:** [17 September 2026 09:15 UTC](https://community.monzo.com/t/say-hello-to-fixed-rate-savings/197681/2 "2026-09-17T09:15:33Z")
Two announcements in two days. What’s next? Monzo One 👀 ---
**Author:** ![krr13](https://avatars.discourse-cdn.com/v4/letter/k/d26b3c/32.png) [@krr13](https://community.monzo.com/u/krr13)\ **Post date:** [17 September 2026 09:39 UTC](https://community.monzo.com/t/say-hello-to-fixed-rate-savings/197681/3 "2026-09-17T09:39:25Z")
Is there any progress on inbound cash ISA transfers? ---
**Author:** ![HarrisonC](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/harrisonc/32/124400_2.png) [@HarrisonC](https://community.monzo.com/u/HarrisonC)\ **Post date:** [17 September 2026 09:47 UTC](https://community.monzo.com/t/say-hello-to-fixed-rate-savings/197681/5 "2026-09-17T09:47:42Z")
Hello fellow Harrison. Showing in app already, which is great. I am assuming there is no change to the interest rate for being on Perks? ![IMG_3305](https://global.discourse-cdn.com/monzo/original/3X/e/e/ee5e708d67ae5d482613c26695515caf2d386f3a.jpeg) ---
**Author:** ![harrisonh](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/harrisonh/32/106433_2.png) [@harrisonh](https://community.monzo.com/u/harrisonh)\ **Post date:** [17 September 2026 09:48 UTC](https://community.monzo.com/t/say-hello-to-fixed-rate-savings/197681/6 "2026-09-17T09:48:15Z")
Watch this space 👀 ---
**Author:** ![harrisonh](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/harrisonh/32/106433_2.png) [@harrisonh](https://community.monzo.com/u/harrisonh)\ **Post date:** [17 September 2026 09:49 UTC](https://community.monzo.com/t/say-hello-to-fixed-rate-savings/197681/7 "2026-09-17T09:49:03Z")
👋 Hello Harrison! That is correct, Fixed Rate savings rates are the same regardless of what Monzo subscription plan you have ---
**Author:** ![HarrisonC](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/harrisonc/32/124400_2.png) [@HarrisonC](https://community.monzo.com/u/HarrisonC)\ **Post date:** [17 September 2026 10:01 UTC](https://community.monzo.com/t/say-hello-to-fixed-rate-savings/197681/8 "2026-09-17T10:01:24Z")
Thanks for confirming, good for non-subscribers! I would change this page though to decouple Instance Access from the Select Access and Fixed Rate, as the banner to subscribe to Max could make people think that Fixed rate would get higher rates two. (I know it says ‘for your Instant Access savings’ but the flow of the page would lead me to believe that). What’s not visible in the screenshot is the small line between the promo banner and the Instant Access box. ![IMG_3306](https://global.discourse-cdn.com/monzo/original/3X/3/2/327e0c7747c464cf3cbaf98f35e65c4ca8e1651f.jpeg) ---
**Author:** ![Paulw](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/paulw/32/96457_2.png) [@Paulw](https://community.monzo.com/u/Paulw)\ **Post date:** [17 September 2026 11:27 UTC](https://community.monzo.com/t/say-hello-to-fixed-rate-savings/197681/9 "2026-09-17T11:27:39Z")
Great to see more products available. Have you considered allowing the Safety Net pot to a select access? Longer term savings is what it’s for after all. ---
**Author:** ![harrisonh](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/harrisonh/32/106433_2.png) [@harrisonh](https://community.monzo.com/u/harrisonh)\ **Post date:** [17 September 2026 14:31 UTC](https://community.monzo.com/t/say-hello-to-fixed-rate-savings/197681/10 "2026-09-17T14:31:35Z")
@HarrisonC Thanks for sharing this feedback. I will take away with the team and see what we can do to the UX here to make this clearer. @Paulw We would love to add this option in future. We haven’t added it yet as sometimes you may need to access your Safety Net 3 or more times in a year, and this would result in your Safety Net being moved to the lower rate on Select Access. As such, we want to be really intentional with how we go about doing this. ---
**Author:** ![HarrisonC](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/harrisonc/32/124400_2.png) [@HarrisonC](https://community.monzo.com/u/HarrisonC)\ **Post date:** [17 September 2026 15:13 UTC](https://community.monzo.com/t/say-hello-to-fixed-rate-savings/197681/11 "2026-09-17T15:13:07Z")
@harrisonh AI mockup but I think something like this would be clearer. Also feel the text should say “Get a higher rate for your Instant Access savings with Monzo Max”. Not many newbies would know the Monzo Max logo. ![image](https://global.discourse-cdn.com/monzo/original/3X/6/7/67ddf6398fe1fa30177ead638221f563187de6e4.jpeg) ---
**Author:** ![simonhunter87](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/simonhunter87/32/25144_2.png) [@simonhunter87](https://community.monzo.com/u/simonhunter87)\ **Post date:** [17 September 2026 16:49 UTC](https://community.monzo.com/t/say-hello-to-fixed-rate-savings/197681/12 "2026-09-17T16:49:23Z")
Much better rate but still not market leading…why would I switch to it? ---
**Author:** ![Chris\_R](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/chris_r/32/52490_2.png) [@Chris\_R](https://community.monzo.com/u/Chris_R)\ **Post date:** [17 September 2026 17:08 UTC](https://community.monzo.com/t/say-hello-to-fixed-rate-savings/197681/13 "2026-09-17T17:08:45Z")
Nobody said it was market leading, and nobody says you have to. There are other people who may have savings in lower rates that would want to switch their money to it. ---
**Author:** ![Paulw](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/paulw/32/96457_2.png) [@Paulw](https://community.monzo.com/u/Paulw)\ **Post date:** [17 September 2026 18:08 UTC](https://community.monzo.com/t/say-hello-to-fixed-rate-savings/197681/14 "2026-09-17T18:08:09Z")
Thanks for the reply, appreciated. ---
**Author:** ![Kumnaa](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/kumnaa/32/3950_2.png) [@Kumnaa](https://community.monzo.com/u/Kumnaa)\ **Post date:** [18 September 2026 06:23 UTC](https://community.monzo.com/t/say-hello-to-fixed-rate-savings/197681/15 "2026-09-18T06:23:09Z")
@harrisonh the Monzo ISA is flexlible isn’t it? We can open up a new fixed rate ISA pot and move money in from an existing ISA pot without affecting our allowance? [edit] bonus question, if the above is correct, moving money in from a select access pot will trigger one of your two allowed withdrawals? ---
**Author:** ![Chris\_R](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/chris_r/32/52490_2.png) [@Chris\_R](https://community.monzo.com/u/Chris_R)\ **Post date:** [18 September 2026 08:24 UTC](https://community.monzo.com/t/say-hello-to-fixed-rate-savings/197681/16 "2026-09-18T08:24:09Z")
All the Monzo ISAs are flexible - it’s one ISA wrapper across all the pots so you can move money between them. However, I set up a fixed one last night - for some inextricable reason for the initial £500 you can’t move money in from your select ISA. Once it’s open, you can. However you also must keep £500 in your select account or close it, so I ended up doing a lot of faff to move my money into the fixed. But it’s possible, and my remaining ISA allowance remains in tact 😃 In answer to your question, a transfer from your select to the fixed counts as a withdrawal, and it warns you about this when you do it. PS, you can close your select and open a new one which then has the full withdrawal allowance again for another year. Hope that helps ---
**Author:** ![plord](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/plord/32/120791_2.png) [@plord](https://community.monzo.com/u/plord)\ **Post date:** [18 September 2026 08:26 UTC](https://community.monzo.com/t/say-hello-to-fixed-rate-savings/197681/17 "2026-09-18T08:26:16Z")
Yea, I wondered the same. I assume most folks will simply get 5%+ elsewhere (and if supported, link in the monzo app). ---
**Author:** ![kennydude](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/kennydude/32/4894_2.png) [@kennydude](https://community.monzo.com/u/kennydude)\ **Post date:** [18 September 2026 09:36 UTC](https://community.monzo.com/t/say-hello-to-fixed-rate-savings/197681/18 "2026-09-18T09:36:13Z")
4.5% seems quite good, but it feels a bit interesting how the longer you lock away you seem to get a lower return? Am I missing something with this? ---
**Author:** ![Kumnaa](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/kumnaa/32/3950_2.png) [@Kumnaa](https://community.monzo.com/u/Kumnaa)\ **Post date:** [18 September 2026 09:39 UTC](https://community.monzo.com/t/say-hello-to-fixed-rate-savings/197681/19 "2026-09-18T09:39:36Z")
Interest rates are expected to go up short term but then fall again long term. ---
**Author:** ![HarrisonC](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/harrisonc/32/124400_2.png) [@HarrisonC](https://community.monzo.com/u/HarrisonC)\ **Post date:** [18 September 2026 09:43 UTC](https://community.monzo.com/t/say-hello-to-fixed-rate-savings/197681/20 "2026-09-18T09:43:40Z")
Feel like this is a question for @harrisonh 😃 ---
**Author:** ![Urpert](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/urpert/32/111346_2.png) [@Urpert](https://community.monzo.com/u/Urpert)\ **Post date:** [21 September 2026 19:42 UTC](https://community.monzo.com/t/say-hello-to-fixed-rate-savings/197681/21 "2026-09-21T19:42:21Z")
Have these replaced Select Access pots? I don’t seem to be able to create one of those any more: ![IMG_9859](https://global.discourse-cdn.com/monzo/original/3X/f/9/f9124445c490c1f2d38f0519cb2f08d4f22c250d.jpeg) [Next page](https://community.monzo.com/t/say-hello-to-fixed-rate-savings/197681.md?page=2)