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We are currently receiving high levels of applications, which may mean some cases take slightly longer than usual to process.
Please bear with us; we are delighted to welcome you to Monument.
Fix your savings for 9 months to get a guaranteed interest rate
Start saving from £25,000
FSCS protected up to £85,000
Our highest Fixed Term Deposit rate
4.85
%
AER
Choose from our fixed term products to get a guaranteed fixed rate for your long term savings goals.
Get a guaranteed interest rate that won't change for the entire duration of your fixed term.
You have 14 days to add savings to your account, then we'll take care of the rest! Your savings will be available to reinvest or withdraw at the end of your fixed term.
If you reinvest your savings with us at the end of the term, you’ll get a higher rate than a new client would. That's our way of saying thank you.
We don't charge you any account fees for opening or managing your savings account with us, and never will.
Speak to our Client Services team through in-app chat, call, video or get in touch by email.
View and manage your savings at your convenience with 24/7 access to the Monument app.
We’re a fully licensed bank and your money is protected up to £85,000 by the Financial Services Compensation Scheme (FSCS).
Get the app from the Apple App Store or Google Play.
Choose your savings account, and provide us with some personal details so we can securely open your account.
Send money from your Linked Account or Monument Easy Access Account to your new account and start earning interest immediately.
Here are the answers to most popular questions about our savings accounts. To see more please go to the FAQ page.
Monument is a fully regulated, UK bank built to help you manage, grow and enjoy your wealth.
More than 40,000 clients save with Monument and benefit from our range of Lifestyle services and UK-based client servicing team.
Your money is protected up to £85,000 by the Financial Services Compensation Scheme (FSCS).
When you open your Fixed Term Deposit you will be given a sort code and an account number which you can use to make electronic payments into your Monument account from your Linked Account. You can also transfer money into your Fixed Term Deposit from your Monument Easy Access Savings account, if you have one.
You will have 14 days from the day you open your Fixed Term Deposit to deposit money into the account.
At the end of the fixed term, you can choose to reinvest your money into a Monument savings product or withdraw it to your Linked Account. We will email you 30 days prior to the end of your fixed term for you to make a selection. If you choose to reinvest, we offer a range of exclusive Loyalty products which have higher rates than those available for new clients.
No, the interest rate on Fixed Term Deposits is fixed for the entire duration of the fixed term.
No, you can’t withdraw your money for the duration of the fixed term period. However, you can change your mind and cancel the account within the 14-day funding period, and we will return your money to your Linked Account.
£25,000.
This balance requirement is for the combined total across all of your Monument accounts. For example, if you have an Easy Access and a Notice Account with us, you must hold a minimum of £25,000 in total across both accounts.
This summary contains key information about the Fixed Term you have selected. Please read it carefully alongside the Fixed Term Deposit Terms and our General Savings Terms.
4.82% gross / 4.85% AER (fixed)
Rate effective 12 August 2024
AER stands for Annual Equivalent Rate. This shows you what the interest rate would be if interest was paid and compounded once each year.
Gross is the rate of interest payable before income tax is deducted.
Interest is calculated daily and is paid on the maturity date. Interest can be paid to your Linked Account or paid to the balance at maturity.
No, the interest rate is fixed and cannot be changed throughout the term.
£1,036.15 at an interest rate of 4.82% gross (fixed)
£25,903.75 at an interest rate of 4.82% gross (fixed)
For the purposes of this calculation we assume that:
The above is for illustrative purposes only and does not take into account any individual circumstances.
You can open and manage your account through the Monument mobile app.
Eligibility:
Minimum and Maximum Balance:
Making Deposits:
No, withdrawals and early closures are not permitted throughout the term.
We will contact you at least 30 days before the maturity date of your Fixed Term Deposit and you will be asked to select how you would like us to deal with your maturity balance.
If we do not hear from you before the maturity date, we will transfer the balance to your Easy Access Savings account if you have one, or if you do not have one, we will open a new Easy Access Savings account for you.
You can change your mind and close a Fixed Term Deposit you have opened without incurring any penalties within 14 days following the account opening date (this coincides with the Funding Period for the account).
Please contact us and we will close the account and return any funds you have deposited (together with any accrued interest).
We do not deduct tax from any interest paid to you. You will need to pay any tax you owe to HMRC or other Tax authorities applicable to you
Please note: The information provided here is a summary of the key features of our Fixed Term Deposit account. Further information can be found in our Fixed Term Deposit Terms.
Apply for your account in just a few minutes.
If you’re looking for a more flexible savings account you can learn about our Easy Access Savings or Notice Accounts
or search Monument Bank
