High Interest Accounts - Monthly Interest | moneyfacts.co.uk

Monthly Interest Savings Accounts

  - Find the best monthly interest savings accounts using our independent best buys if you want to receive monthly interest payments.
Also look at:

Compare the Best Monthly Interest Accounts

Compare
Up to 3 products
side by side
AER Notice / Term Minimum Investment Account Opening Search all 1634 accounts
 

1.45%
120 Day £500
  1. Yes
  2. No
  3. No
  4. No
Details...  

1.26%
120 Day £1000
  1. Yes
  2. No
  3. No
  4. No
Details...  

1.26%
None £1
  1. Yes
  2. No
  3. No
  4. No
Details...  

1.20%
60 Day £1000
  1. Yes
  2. Yes
  3. Yes
  4. No
Details...  

1.15%
Instant £1000
  1. Yes
  2. Yes
  3. No
  4. No
Details...  

1.11%
None £1000
  1. Yes
  2. No
  3. No
  4. No
Details...  

1.10%
None £100
  1. Yes
  2. No
  3. No
  4. No
Details...
Go to Site
 

1.10%
Inc 0.49% bonus for 12 months
Instant £100
  1. No
  2. Yes
  3. Yes
  4. No
Details...  

1.10%
expected rate
95 Day £1000
  1. Yes
  2. No
  3. No
  4. No
Details...  

1.05%
None £1
  1. Yes
  2. No
  3. No
  4. No
Details...  
Compare
Last Updated: Sunday 25 June 2017 09:02

Moneyfacts.co.uk Best Buys show the best products chosen by our independent experts. Where we have been able to we have also provided a link for you to open an account today. Products shown with a yellow background are sponsored products.

Eligible deposits with UK institutions are protected by the Financial Services Compensation Scheme up to a maximum level of protection of £85,000 per person per institution.

Disclaimer:
All rates subject to change without notice. Please check all rates and terms before investing or borrowing.
Search All Savings Accounts >>
 
Free Brochures and Guides

Monthly interest savings accounts explained

  • Good if you use your savings interest to supplement your income
  • Fixed and variable rate accounts can pay interest monthly, as well as cash ISAs

The main reason you might want to have your interest paid monthly is to use this interest to top up your monthly income. Alternatively, some people like to see interest applied to their account more regularly, rather than every year, so that they have an appreciation of how their savings are growing.

Not all savings accounts and cash ISAs offer the option to pay you interest monthly. This best buy table shows the best variable rate accounts that do, with fixed rate monthly accounts and cash ISAs available on our whole market savings search.

Most monthly interest savings accounts offer the option to either have your interest kept in the account (where it then benefits from compound interest and helps to grow your savings pot), or to have it paid into a separate account, such as your bank account where you can make use of it in your day-to-day finances.

WarningSome monthly interest accounts may only allow the interest to be paid to a separate account so watch out for this.

Use your savings interest for income? Make sure you:

  • Use your cash ISA allowance (deposit up to £15,240 in 2016-17)
    Savings in a cash ISA earn tax-free interest, so it can really boost your monthly income if you’re a taxpayer. You are limited to £1,000 tax-free interest on savings held outside an ISA, but all ISA interest is tax-free. Search for monthly interest cash ISAs.
  • Consider fixed rate bonds and fixed rate cash ISAs
    If you can do without access to your money, fixed rate bonds or fixed rate cash ISAs tend to pay higher rates of interest than the best variable rate monthly interest savings accounts. Search for monthly interest fixed rate bonds.

What next?

Savings home
Search all monthly interest savings accounts & ISAs

Guide to monthly interest accounts
Savings guides

 

 
 
6 of the best regular savings accounts
6 of the best regular savings accounts

We know it can be difficult to get into the habit of saving. Other spending can easily get in the wa... More

For the best regular saver, switch current account
For the best regular saver, switch current account

Savings rates are still nothing to write home about, with inflation likely to wipe out any real retu... More

All non-ISA rates are on the up
All non-ISA rates are on the up

Last week’s inflation rise may have caused some savers to throw in the towel, but Moneyfacts Savings... More

Savings rates rise, but still don't beat inflation
Savings rates rise, but still don't beat inflation

Inflation has risen yet again, with CPI standing at 2.9% in May, up from 2.7% in April. The slight s... More

6 of the best monthly interest savings accounts
6 of the best monthly interest savings accounts

Monthly interest savings accounts pay interest on your savings each month – as opposed to yearly – a... More

Sharia’a compliant savings accounts
Sharia’a compliant savings accounts

Islamic savings accounts offer a Sharia’a-compliant way of saving for Muslims living in the UK, as w... More

Depositor protection schemes if a bank goes bust
Depositor protection schemes if a bank goes bust

Find out where your bank or building society is licenced, and what deposit protection guarantees you... More

Is now the time to fix your savings rate?
Is now the time to fix your savings rate?

With some forecasters predicting interest rate cuts by November 2012, we look at the pros and cons o... More

Yorkshire’s highly competitive easy access saver
Yorkshire’s highly competitive easy access saver

Yorkshire BS has relaunched its easy access saver, now paying a near market-leading rate, which has ... More

Charter’s notice account still competes
Charter’s notice account still competes

Charter Savings Bank has reduced the rate on its notice savings account by 0.09%, but despite this, ... More

Masthaven improves fixed bond rates
Masthaven improves fixed bond rates

Masthaven Bank has increased rates on selected fixed bonds by up to 0.10%, which sees its 18-month, ... More

Wesleyan improves 3yr bond
Wesleyan improves 3yr bond

Wesleyan Bank has increased selected rates by up to 0.34%, which sees its three-year deal maintain i... More

Secure Trust’s new 1yr fixed bond competes
Secure Trust’s new 1yr fixed bond competes

Secure Trust Bank has launched a new one-year fixed rate bond, which is competitive enough to enter ... More

Close