Updated September 28, 2026 · SumCue Editorial Team
AU Small Finance Bank vs Monzo
AU Small Finance Bank
Higher score in this comparison
Monzo
Where AU Small Finance Bank and Monzo differ
| Compare | AU Small Finance BankReviewVisitVisit | MonzoReviewVisitVisit |
|---|---|---|
| Headline rate | 6.75%Higher | 2.75% to 3.5% |
| Term | 12 to 60 months | 12 to 84 monthsHigher |
| Minimum deposit | ₹0 | £0 |
| Access terms | Zero balance account, monthly interest payouts, unlimited online payments (RTGS, NEFT, UPI, intra-bank transfer), RUPAY Platinum debit card, AU 0101 app and doorstep service | Instant withdrawals any time, no limits, interest paid monthly, up to 20 Savings Pots, Monzo current account required, aged 16+ |
| Deposit protection | Not confirmed | FSCS up to GBP 85,000 |
| Monthly fee | Not confirmed | £0 |
Same on both: Rate type (Variable), Account kind (Easy access).
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Key differences
- AU Small Finance Bank scores higher overall: 9.3 vs 9.1.
- Founded is lower at AU Small Finance Bank: 1996 vs 2015.
- Headline rate is higher at AU Small Finance Bank: 6.75% vs 2.75% to 3.5%.
- Term is higher at Monzo: 12 to 84 months vs 12 to 60 months.
- Support channels: only Monzo offers Chat.
- Pricing model: only AU Small Finance Bank offers Fixed rate.
- Pricing model: only Monzo offers No monthly fee.
Our verdict on each
AU Small Finance Bank
AU Small Finance Bank pays a headline rate of 6.75% on a variable-rate savings account and suits savers who want easy access to their money with a tiny minimum deposit. Support runs on phone and help centre, and the rate sits well above the site median of 3%.
Monzo
Monzo suits people who want everyday banking, saving and borrowing handled in one app. The current account has a monthly fee of £0, and the savings pot pays 2.75% to 3.5% with withdrawals any time and no limits.
Score breakdown
| Area | AU Small Finance Bank | Monzo |
|---|---|---|
| Cost | 9.5HigherBorrowing runs to an APR of up to 30%, and a personal loan adds Up to 4% of approved loan amount, minimum INR 2,000. | 9.4Savings run on a no monthly fee model with a minimum deposit of £0, and the credit card annual fee is £0. |
| Offer | 9.2Beyond the rate, the offer includes a easy access account, monthly interest payouts, unlimited online payments and a doorstep service. | 9.6HigherLoan types include personal, debt consolidation and car for home improvement, and virtual card and travel come with the account. |
| Trust | 9.2Higher | 8.5 |
Cost in a real example
10,000 saved for 12 months
AU Small Finance Bank
675
6.75% of 10,000
Monzo
275 to 350
2.75% to 3.5% of 10,000
AU Small Finance Bank comes out 325 higher in this example.
Excludes monthly fee (not stated by AU Small Finance Bank). Worked out from the stated prices and rates; your own total depends on how you use it. Facts checked September 26, 2026.
Ranges side by side
| Fact | AU Small Finance Bank | Monzo |
|---|---|---|
| Term | 12 to 60 months | 12 to 84 months |
Licences and countries
| Country | AU Small Finance Bank | Monzo |
|---|---|---|
| India | Not confirmed | |
| United Kingdom | Not confirmed |
Additional countries for AU Small Finance Bank: 1. Additional countries for Monzo: 1.
Where they rank in our lists
| Ranking | AU Small Finance Bank | Monzo |
|---|---|---|
| Savings | 17 of 1492 | 24 of 1492 |
| Savings accounts | 10 of 658 | 15 of 658 |
| Loans | 87 of 2043 | 99 of 2043 |
| Personal loans | 73 of 1317 | 84 of 1317 |
| Credit and debit cards | 21 of 1594 | 29 of 1594 |
Every fact side by side
| Fact | AU Small Finance Bank | Monzo |
|---|---|---|
| Pricing model | Fixed rate | No monthly fee |
| Legal entity | AU Small Finance Bank | Monzo Bank Limited |
| Headquarters | India | United Kingdom |
| Founded | 1996Lower | 2015 |
| Support channels | Phone, Help centre | Chat, Phone, Help centreCovers more |
Loans
| Fact | AU Small Finance Bank | Monzo |
|---|---|---|
| APR | up to 30% | 29% |
| Loan amount | ₹25,000 to ₹1,500,000 | £10,000 to £35,000 |
| Arrangement fee | Up to 4% of approved loan amount, minimum INR 2,000 | 0 |
| Funding time | Within 24 hours | Minutes after approval, into the Monzo account |
| Representative example | Not confirmed | Borrow £4,800 over 36 months, 35 monthly repayments of £181 plus one final payment of £150.99, 20.9% fixed interest rate, 23.0% representative APR, total repay £6,485.99 |
| Features | Same day funding | Virtual card, Travel |
| Lender type | Direct lender | Direct lender |
| Free early repayment | No | YesHas it |
| Eligibility | Indian resident, 21 years minimum at application, 65 years maximum at loan maturity | UK residents aged 18+, Monzo Current Account required |
| Origination fee (%) | up to 4% | Not confirmed |
| Loan types | Personal, Debt consolidation | Personal, Debt consolidation, CarCovers more |
| Credit needed | Good | Fair |
| Use cases | Not confirmed | Home improvement |
Credit cards
| Fact | AU Small Finance Bank | Monzo |
|---|---|---|
| Annual fee | Not confirmed | £0 |
| Currency conversion fee | Not confirmed | 0% |
| Rewards type | Not confirmed | None |
| Perks | Not confirmed | 0% interest over 3 months on purchases of GBP 100 or more, repeatable, 0% interest if you pay in full, No overseas fees (Mastercard exchange rate only), Section 75 purchase protection, Credit limit up to GBP 10,000, Flex purchases from up to 2 weeks ago, Instant notifications and real time balance updates, Separate paid card: Aura (GBP 15 a month) adds 1% cashback on groceries, 0.5% on everything else uncapped, auto invested cashback, Apple TV, Google AI Plus, 2 airport lounge and 2 fast track passes a year |
| Card kind | Credit | Credit |
| Audience | Not confirmed | Kids, Business |
Mortgages
| Fact | AU Small Finance Bank | Monzo |
|---|---|---|
| Purpose | Purchase, Remortgage, Home equity | Not confirmed |
Where each stands against the rest
| Fact | AU Small Finance Bank | Monzo | Median |
|---|---|---|---|
| Headline rate | 6.75%highest quarter | 2.75% to 3.5%above the median | 3.3% |
| Term | 12 to 60 monthsat the median | 12 to 84 monthsabove the median | 60 |
| Monthly fee | Not confirmed | £0at the median | £0 |
Median across 710 listed providers.
Pros and cons
AU Small Finance Bank
Pros
- Headline rate of 6.75% on a variable basis, well above the site median of 3%.
- Minimum deposit of INR 0 on a easy access account, ranked 1 of 379 on that measure.
- Support on phone and help centre, plus a doorstep service for account holders.
Cons
- Free early repayment: no, so settling a loan early comes with a cost.
- Support runs on phone and help centre only.
- A personal loan carries an origination fee of Up to 4% of approved loan amount, minimum INR 2,000.
Monzo
Pros
- A monthly fee of £0 on the current account, and a currency conversion fee of 0% across 38 currencies.
- Savings interest is credited monthly, with withdrawals any time and no limits.
- Personal loans of £10,000 to £35,000 are paid out Minutes after approval, into the Monzo account, and early repayment is free.
Cons
- The credit card charges 29% APR and its rewards type is none, so there is nothing to earn back on it.
- Loans ask for a credit rating of fair and only work alongside a Monzo current account.
- ATM withdrawals come with an allowance of £200, the weakest part of the travel offer.
Who each suits
AU Small Finance Bank
Who it suits
- Savers in IN who want a variable rate with easy access and monthly interest payouts.
- Borrowers with good credit who want to deal with the bank as a direct lender.
- People who prefer doorstep service and unlimited online payments alongside a debit card.
Who should look elsewhere
- bunq, whose savings interest is 3.01%, if that rate is enough for you.
- Wise, which pays 3.29% on savings, if you are weighing a lower headline rate.
Monzo
Who it suits
- People who want spending and saving in one place: the savings account pays 2.75% to 3.5% at a variable rate on an easy access basis.
- Households and small businesses, since the audience covers kids and business and the account includes virtual card and travel.
- People who prefer an app bank with its own regulator: the legal entity is Monzo Bank Limited, based in the United Kingdom.
Who should look elsewhere
- Euro account holders, since bunq charges a monthly fee of €0 on a euro account rather than a UK current account.
- Anyone after a secured card instead of an unsecured rate of 29% APR: Varo Believe Secured Credit Card has a monthly fee of $0.
- Travellers who mainly want a multi currency account: Wise charges 0.1% on conversion, which works on a different basis to a UK debit card.
Current offers
Monzo
Current offer
Free trial
Annual Uber One Membership - 3 month free trial: 3 months free
Included with Monzo Perks and Max subscriptions; Ts&Cs apply
Source, checked September 26, 2026
Bonus
The 2026 Monzo Saving Challenge: Save from 1p to GBP 667.95 and be in with a chance of winning GBP 10,000; 5% AER (variable) paid monthly
Ts&Cs apply; Extra, Perks and Max customers unlock new challenge levels, bigger savings and monthly prize draws
Source, checked September 26, 2026
Country by country
| Country | AU Small Finance Bank | Monzo |
|---|---|---|
| India | Yes | No |
| United Kingdom | No | Yes |
Questions about each
AU Small Finance Bank
What rate does AU Small Finance Bank pay on savings?+
The digital savings account pays a headline rate of 6.75% and the rate type is variable. Interest is credited every month, and the account is a easy access account, so your money stays reachable while it earns.
Is there a minimum deposit to open the account?+
The minimum deposit is INR 0, so the account can be opened without putting a large sum in. AU Small Finance Bank ranks 1 of 379 on this measure, which keeps it an easy account to start.
Monzo
What does it cost to keep the account day to day?+
The current account runs on a monthly fee of £0 and the savings pot takes a minimum deposit of £0. Loans add an arrangement fee of 0, and the credit card has an annual fee of £0, so the holding costs sit at the cheap end.
Is my money protected, and who regulates the bank?+
Deposits sit with Monzo Bank Limited under protection of FSCS up to GBP 85,000, and the bank is licensed by the Prudential Regulation Authority in GB under 730427. Card and cash losses fall outside that protection, and the retail loss rate in our data runs at 70.15%.
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