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Digital bank Monument launches savings range

Accessible via its app, Monument has launched new 12-month, two year and five year Fixed-Term Deposit savings products which will offer an AER of 1.80 per cent, 2.05 per cent and 2.40 per cent respectively, the highest interest rates in these categories at present. This launch follows the release of its app and entry into the savings market in December 2021.

Details of Monument’s current range of savings products, eligibility, and terms and conditions can be found on the website Depositors must hold a minimum balance of GBP25,000 with Monument across all savings accounts they have at any time.

Monument writes that it believes that client loyalty should be rewarded rather than taken for granted: when a client renews a savings or lending product, they will receive a better rate than is available to a new client at that time.

Commenting on the products’ launch John Saunders, Chief Commercial Officer, Monument says: “We’re pleased to be offering a range of savings choices to consider, all at competitive rates. Inflation is a real and growing feature of personal finance, so leaving savings in low (or no) interest bearing accounts makes less sense than ever. By offering 12-month, two year and five year terms, people can select the solution that suits them best”. 

“Monument’s savings products are designed to be simple, fair, and easy to use. One of the key differences it offers is an exceptional client service using modern technology, allowing clients to open savings accounts in minutes, making the process one of the quickest in the market.”

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