Two of the top digital banks are now joining forces to offer savings accounts; Monzo and OakNorth are teaming up to offer savings accounts options for their more than 1.6 million customers; accounts will range from 1 percent AER to 1.53 percent AER and two will be available in a cash ISA; “ ISAs and higher interest rates on savings are something our customers have been asking for, so we’re really excited to be launching them in time for the end of this tax year,” said Monzo cofounder and CEO Tom Blomfield to AltFi; minimum deposit in these savings pots will be £500, with a maximum total balance across all savings pots of £500,000. Source.
