Do I have to pay taxes on my Savings Jars?

If you earn more than $10 in Savings Jars interest within a single tax year, you’ll need to report that amount as income on your yearly taxes. The exact amount of taxes you owe on that income will depend on your tax situation.

We’ll send a 1099-INT to all customers who earn more than $10. If you earned less than $10, you will not be sent a 1099-INT.

🗓️ For the 2024 tax year:

We’ll mail 1099-INTs in January and they should reach you by February 14th, 2025. If you don’t receive your 1099-INT, please contact us.

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Monzo’s Savings Jar Annual Percentage Yield (APY) is 3.75% as of January 8, 2025. The APY may change at any time.

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