What is the interest rate on Monzo Instant Access Savings?
Monzo Instant Access Savings pays 1.6% AER. After 33% DIRT tax, the effective rate is 1.07%.
Monzo Instant Access Savings
1.6% AER - Instant Access savings account from Monzo. 1.07% after 33% DIRT tax.
Account Details
- Interest Rate: 1.6% AER (1.07% after DIRT)
- Account Type: Instant Access
- Access: Instant access - withdraw anytime
- Minimum Deposit: No minimum
- Maximum Deposit: €100,000
- Deposit Protection: Irish DGS
- Provider: Monzo
Notes: No minimum deposit. Interest paid monthly. DIRT auto-deducted.
Interest Calculator
Estimated annual interest at 1.6% AER:
- €1,000 → €16.00 gross (€10.72 after DIRT)
- €5,000 → €80.00 gross (€53.60 after DIRT)
- €10,000 → €160.00 gross (€107.20 after DIRT)
Use our savings calculator for detailed projections.
About Monzo
First neobank with Central Bank of Ireland license. Irish IBAN. DIRT auto-deducted.
Website: https://monzo.com/ie/
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Frequently Asked Questions
Is my money protected with Monzo?
Yes, deposits are protected under Irish DGS. This covers up to €100,000 per person per institution.
How do I open this account?
Download the Monzo app and complete ID verification. The process is fully digital.
Do I have to pay tax on the interest?
Yes, interest is subject to 33% DIRT (Deposit Interest Retention Tax). Monzo automatically deducts DIRT.
More Information
- Compare all savings accounts: https://smartsaver.ie/savings
- All Monzo accounts: https://smartsaver.ie/savings/provider/monzo
- Savings calculator: https://smartsaver.ie/savings/tools/savings-growth
- Monzo website: https://monzo.com/ie/