As a UK bank, Nomo gives GCC residents the chance to grow their wealth in the UK.

We offer two types of savings accounts – Fixed Term Deposits and Instant Access Savers, which offer different benefits depending on your approach to saving and your financial goals.

Read on to discover the benefits of each savings account, and which one can help you to work towards your goals:

Which savings accounts are available?

Fixed Term Deposit

Which currencies can I save in? GBP, USD, EUR

What’s the minimum deposit amount? 5,000 GBP or 10,000 USD or 10,000 EUR

Is my money FSCS protected? Yes, up to £85,000

When can I withdraw? You can choose an investment term of 3, 6 or 12 months - your deposit and earnings will be added to your current account after this term has ended

What are the expected rates? In general, you can enjoy higher expected rates for a longer and larger deposit, with preferential rates for deposits of at least 25,000 GBP or 30,000 USD or 30,000 EUR

The top expected rate is currently 4.75% AER*, which is for a 12-month deposit of min. 25,000 GBP – see the full rates here

Instant Access Saver

Which currencies can I save in? GBP, USD, EUR What’s the minimum deposit amount? 3,000 GBP or 3,000 USD or 3,000 EUR

Is my money FSCS protected? Yes, up to £85,000

When can I withdraw? Anytime

What are the expected rates? Higher expected rates are available above the 10,000 GBP/USD/EUR threshold and 50,000 GBP/USD/EUR threshold

The top expected rate is currently 4.50% AER*, which is for a deposit of min. 50,000 GBP or 50,000 USD – see the full rates here

Which savings account is right for me?

The type of savings account you might choose depends on different factors, based on the expected rate you want, how quickly you need access to your money, and how much you have to save with.

If you need flexibility and fast access, the Nomo Instant Access Saver is the account for you. It’s ideal for those who want immediate access to their savings without any penalties for withdrawals.

Nomo Fixed Term Deposits require you to put money away for a set period of time, and you won’t be able to access it without losing out on your profits.

However, you can enjoy our highest expected profit rates with a Fixed Term Deposit – so if you are comfortable without access to your deposit, you will have the benefit of higher expected returns.

How long does it take to start saving?

It takes just minutes to open a Fixed Term Deposit or Instant Access Saver in the app.

Simply fund your Nomo account with the amount of money you want to deposit and open your preferred savings account!

T&Cs apply. Nomo accounts are not currently available to UK residents.

*Correct as of 22/08/24