# We're launching an exclusive 3 month Fixed Savings Pot with a market-leading interest rate! **URL:** \ **Category:** News & Updates\ **Created:** [24 July 2019 11:25 UTC](https://community.monzo.com/t/were-launching-an-exclusive-3-month-fixed-savings-pot-with-a-market-leading-interest-rate/74125 "2019-07-24T11:25:51Z")\ **Posts on this page:** 20\ **Page:** 1
**Author:** ![bea](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/bea/32/29111_2.png) [@bea](https://community.monzo.com/u/bea)\ **Post date:** [24 July 2019 11:25 UTC](https://community.monzo.com/t/were-launching-an-exclusive-3-month-fixed-savings-pot-with-a-market-leading-interest-rate/74125/1 "2019-07-24T11:25:51Z")
From today, you can access a Fixed Savings Pot with a market-leading interest rate that’s only available through Monzo! Plus, we’re increasing the interest rates across all OakNorth products. More here👇 > **[We're launching an exclusive Savings Pot with a market-leading interest rate!](https://monzo.com/blog/2019/07/24/market-leading-interest-rate-on-monzo-savings-pots)** > > You can now access the highest interest rate on the market for a 3 month Fixed Savings Pot, through Monzo. ---
**Author:** ![TraynorOnline](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/traynoronline/32/41144_2.png) [@TraynorOnline](https://community.monzo.com/u/TraynorOnline)\ **Post date:** [24 July 2019 11:32 UTC](https://community.monzo.com/t/were-launching-an-exclusive-3-month-fixed-savings-pot-with-a-market-leading-interest-rate/74125/2 "2019-07-24T11:32:07Z")
It’s great to see Monzo improving the interest rates of their pots, but I’m not sure how true it is to say 1.35% AER is market-leading for a 3-month pot. While it may be the best rate available on a 3-month fixed term savings account, it’s certainly well below the 1.5% AER offered with a [Marcus by Goldman Sachs](https://marcus.co.uk/) instant access savings accounts! I’d love to move my savings over to Monzo, but there’s still a while to go before I think these rates can be seen as competitive, and certainly before you can claim they’re market-leading. ---
**Author:** ![nickh](https://avatars.discourse-cdn.com/v4/letter/n/7ea924/32.png) [@nickh](https://community.monzo.com/u/nickh)\ **Post date:** [24 July 2019 11:33 UTC](https://community.monzo.com/t/were-launching-an-exclusive-3-month-fixed-savings-pot-with-a-market-leading-interest-rate/74125/3 "2019-07-24T11:33:40Z")
👏 On getting more savings products out there. But I’m personally not a fan of click-bait misleading headlines… When there are _instant_ savings accounts with a better rate, to claim you offer the best 3 month fixed rate account is a little trivial… Great for those who don’t want to go elsewhere… But a bit “meh” for everyone else. ---
**Author:** ![nathanthomson8](https://avatars.discourse-cdn.com/v4/letter/n/7ba0ec/32.png) [@nathanthomson8](https://community.monzo.com/u/nathanthomson8)\ **Post date:** [24 July 2019 11:54 UTC](https://community.monzo.com/t/were-launching-an-exclusive-3-month-fixed-savings-pot-with-a-market-leading-interest-rate/74125/4 "2019-07-24T11:54:02Z")
Agree with the above… great to see improvements being made but disagree with the way its being advertised when theres better rates available out there in instant access accounts ---
**Author:** ![Lewis\_P](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/lewis_p/32/73433_2.png) [@Lewis\_P](https://community.monzo.com/u/Lewis_P)\ **Post date:** [24 July 2019 12:13 UTC](https://community.monzo.com/t/were-launching-an-exclusive-3-month-fixed-savings-pot-with-a-market-leading-interest-rate/74125/5 "2019-07-24T12:13:58Z")
This is great news. Are you considering monzo plus exclusive rates/savings products? ---
**Author:** ![tommy5dollar](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/tommy5dollar/32/90042_2.png) [@tommy5dollar](https://community.monzo.com/u/tommy5dollar)\ **Post date:** [24 July 2019 12:17 UTC](https://community.monzo.com/t/were-launching-an-exclusive-3-month-fixed-savings-pot-with-a-market-leading-interest-rate/74125/6 "2019-07-24T12:17:53Z")
Marcus is actually only 1.35%. It’s only offering 1.5% for the first 12 months of your account. ---
**Author:** ![JustJordds](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/justjordds/32/29498_2.png) [@JustJordds](https://community.monzo.com/u/JustJordds)\ **Post date:** [24 July 2019 12:26 UTC](https://community.monzo.com/t/were-launching-an-exclusive-3-month-fixed-savings-pot-with-a-market-leading-interest-rate/74125/7 "2019-07-24T12:26:34Z")
I don’t necessarily see anything wrong with saying that they have an _exclusive_ savings pot with a _market-leading interest rate_ if it is technically true. Sure for some it may be a tad disingenuous, but then again Monzo have brought out even more options for saving, saw that there is probably a gap between the instant savers and a fixed term saving pot and so brought out a “market leading” rate. Excited that the offering is becoming more diverse and “better” for the customer. The fact Monzo are making 0.2% on top shows that there is probably more room for Monzo to continue onwards. ---
**Author:** ![MaxWinston](https://avatars.discourse-cdn.com/v4/letter/m/7cd45c/32.png) [@MaxWinston](https://community.monzo.com/u/MaxWinston)\ **Post date:** [24 July 2019 12:40 UTC](https://community.monzo.com/t/were-launching-an-exclusive-3-month-fixed-savings-pot-with-a-market-leading-interest-rate/74125/8 "2019-07-24T12:40:54Z")
Thanks for the feedback. We’ve changed the title of this post to make it clearer 🙂 ---
**Author:** ![gmclean](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/gmclean/32/47932_2.png) [@gmclean](https://community.monzo.com/u/gmclean)\ **Post date:** [24 July 2019 13:19 UTC](https://community.monzo.com/t/were-launching-an-exclusive-3-month-fixed-savings-pot-with-a-market-leading-interest-rate/74125/9 "2019-07-24T13:19:19Z")
This is great. For many people, I believe, the easy of setting up a Savings Pot may be the first time they’ve actively had savings of any kind. Great stuff!! For fellow Forumites, I know many of you shop around to find good deals, but the majority of people don’t, so anything and everything Monzo can do to help, even if it isn’t the BEST is still better than nothing? ---
**Author:** ![TraynorOnline](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/traynoronline/32/41144_2.png) [@TraynorOnline](https://community.monzo.com/u/TraynorOnline)\ **Post date:** [24 July 2019 13:24 UTC](https://community.monzo.com/t/were-launching-an-exclusive-3-month-fixed-savings-pot-with-a-market-leading-interest-rate/74125/10 "2019-07-24T13:24:48Z")
Regardless, a 12 month introductory bonus interest is a pretty little penny over the course of a year! Also, even considering the 1.35% base rate of Marcus, that’s still an instant access savings that matches Monzo’s 3 month fixed-term pot. ---
**Author:** ![Hilly](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/hilly/32/15733_2.png) [@Hilly](https://community.monzo.com/u/Hilly)\ **Post date:** [24 July 2019 13:30 UTC](https://community.monzo.com/t/were-launching-an-exclusive-3-month-fixed-savings-pot-with-a-market-leading-interest-rate/74125/11 "2019-07-24T13:30:07Z")
I guess it’s just because its Monzo and they pride themselves on making banking easier and more ‘open’ to users… it seems a bit wrong to promote it in such a way - especially if there are alternatives which are better and provide greater flexibility. ---
**Author:** ![JustJordds](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/justjordds/32/29498_2.png) [@JustJordds](https://community.monzo.com/u/JustJordds)\ **Post date:** [24 July 2019 13:30 UTC](https://community.monzo.com/t/were-launching-an-exclusive-3-month-fixed-savings-pot-with-a-market-leading-interest-rate/74125/12 "2019-07-24T13:30:37Z")
> [@TraynorOnline](#): > > Also, even considering the 1.35% base rate of Marcus, that’s still an instant access savings that matches Monzo’s 3 month fixed-term pot. But Marcus is, and only is, an instant saver - Monzo on the other hand is a Bank that has the ability to have linked savings pots. The value for some in having their discretionary spend and savings in the same place can’t be understated (whilst there are many many others who would and will shop around for the **best** deal). ---
**Author:** ![sahajesh](https://avatars.discourse-cdn.com/v4/letter/s/977dab/32.png) [@sahajesh](https://community.monzo.com/u/sahajesh)\ **Post date:** [24 July 2019 13:33 UTC](https://community.monzo.com/t/were-launching-an-exclusive-3-month-fixed-savings-pot-with-a-market-leading-interest-rate/74125/13 "2019-07-24T13:33:48Z")
This is the funniest thing I have read today 😂 Only three emojis though, surprising. ---
**Author:** ![JustJordds](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/justjordds/32/29498_2.png) [@JustJordds](https://community.monzo.com/u/JustJordds)\ **Post date:** [24 July 2019 13:34 UTC](https://community.monzo.com/t/were-launching-an-exclusive-3-month-fixed-savings-pot-with-a-market-leading-interest-rate/74125/14 "2019-07-24T13:34:42Z")
Sure, but I don’t see what’s wrong with, if it is market leading (for its type) saying it is? It’s like saying this 5 door SUV is the fastest SUV on the market, when there are super and hyper cars that would blow it out of the water - it is still technically true. Monzo aren’t claiming that it is the “best” savings pot out there ever, nor do they say its the most flexible? Granted the title was slightly clickbaity and that was fixed but I still don’t think there is anything wrong in saying it is market-leading, if it is? ---
**Author:** ![TraynorOnline](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/traynoronline/32/41144_2.png) [@TraynorOnline](https://community.monzo.com/u/TraynorOnline)\ **Post date:** [24 July 2019 13:35 UTC](https://community.monzo.com/t/were-launching-an-exclusive-3-month-fixed-savings-pot-with-a-market-leading-interest-rate/74125/15 "2019-07-24T13:35:13Z")
Completely agree with what you’re saying. I suppose my issue is with the way it’s being presented as “market-leading” when it really isn’t. Sure, it has the benefit of being within the Monzo ecosystem, which for some people is a huge factor, but I’ve always loved Monzo’s transparency around everything, and I feel like this post breaks that transparency by trying to sell this new pot as something that it isn’t. ---
**Author:** ![Reena](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/reena/32/40775_2.png) [@Reena](https://community.monzo.com/u/Reena)\ **Post date:** [24 July 2019 13:35 UTC](https://community.monzo.com/t/were-launching-an-exclusive-3-month-fixed-savings-pot-with-a-market-leading-interest-rate/74125/16 "2019-07-24T13:35:37Z")
The other thing is that with this new 3 month Fixed Savings Pot, you need £500 to open it in the first place, with Marcus, you can open it with £1 which is far easier for some people. ---
**Author:** ![Rat\_au\_van](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/rat_au_van/32/49103_2.png) [@Rat\_au\_van](https://community.monzo.com/u/Rat_au_van)\ **Post date:** [24 July 2019 13:36 UTC](https://community.monzo.com/t/were-launching-an-exclusive-3-month-fixed-savings-pot-with-a-market-leading-interest-rate/74125/17 "2019-07-24T13:36:06Z")
So, in terms of 3 month fixed savings (not instant access savings, bonds, scratch cards or investing in magic beans) I can’t find anything with a better rate. Compare like for like ---
**Author:** ![JustJordds](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/justjordds/32/29498_2.png) [@JustJordds](https://community.monzo.com/u/JustJordds)\ **Post date:** [24 July 2019 13:37 UTC](https://community.monzo.com/t/were-launching-an-exclusive-3-month-fixed-savings-pot-with-a-market-leading-interest-rate/74125/18 "2019-07-24T13:37:52Z")
Granted, if we are talking about holistically whether it is “market-leading” it isn’t, but for its category it is. It’d be unfair in a way, _not_ to say it is the best rate for a 3-month fixed term pot, if it was - why wouldn’t you want that sort of ammunition in your promotion? > [@TraynorOnline](#): > > Monzo’s transparency around everything, and I feel like this post breaks that transparency by trying to sell this new pot as something that it isn’t. Maybe Monzo could fetter this by saying something about say a Marcus account but the line: > The Annual Equivalent Rate (AER) is 1.35%, which is the highest interest rate available on a 3 month fixed term deposit in the market! I think this does outline that it is speaking on in terms of 3 months fixed savers. ---
**Author:** ![davidwalton](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/davidwalton/32/111540_2.png) [@davidwalton](https://community.monzo.com/u/davidwalton)\ **Post date:** [24 July 2019 13:38 UTC](https://community.monzo.com/t/were-launching-an-exclusive-3-month-fixed-savings-pot-with-a-market-leading-interest-rate/74125/19 "2019-07-24T13:38:02Z")
Happy Birthday! (🎂) ---
**Author:** ![don\_quixote](https://avatars.discourse-cdn.com/v4/letter/d/e9bcb4/32.png) [@don\_quixote](https://community.monzo.com/u/don_quixote)\ **Post date:** [24 July 2019 13:39 UTC](https://community.monzo.com/t/were-launching-an-exclusive-3-month-fixed-savings-pot-with-a-market-leading-interest-rate/74125/21 "2019-07-24T13:39:08Z")
I think 1.5 is the minimum to begin to claim market leading [Next page](https://community.monzo.com/t/were-launching-an-exclusive-3-month-fixed-savings-pot-with-a-market-leading-interest-rate/74125.md?page=2)