In this paper, a fault detection and isolation (FDI) approach using a bank of interval observers is developed. From the methodological point of view, a bank of interval observers is designed according to different dynamical models of the system under different modes (healthy or faulty). Each interval observer matches one system mode while all the interval observers monitor the system simultaneously. In order to guarantee FDI, a set of FDI conditions based on invariant set notions are established. These conditions ensure that the considered faults can be accurately isolated after a period of monitoring time. Finally, simulation results are used to present the effectiveness of the approach.