Monzo is launching its first instant access savings pot with 3 per cent interest rate
IN BRIEF:
- This new savings option matches JP Morgan Chase’s
- There is no minimum deposit and the new instant access product adds to the suite of other in-app budgeting features
- Monzo 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
What does this mean?
“Developed with customers, it’s designed to give everyone the flexibility to grow their money and access it whenever they need to,” commented Monzo CEO TS Anil. “We’re excited to get this into the hands of customers who we know are using Monzo’s powerful saving and budgeting features more than ever to make the most of every penny.”
