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 1535 accounts
 


Branch Saver 120 (issue 3)
1.65%
120 Day £25000
  1. No
  2. Yes
  3. No
  4. No
Details...  


120 Day Notice Account (Issue 3)
1.60%
120 Day £500
  1. Yes
  2. No
  3. No
  4. No
Details...  


GE 100 Day Notice Issue 4
1.55%
100 Day £500
  1. Yes
  2. No
  3. No
  4. No
Details...  


90 Day Notice Deposit
1.55%
90 Day £10000
  1. No
  2. Yes
  3. Yes
  4. No
Details...  


Branch Easy Access Savings Issue 1
1.50%
Instant £1000
  1. No
  2. Yes
  3. No
  4. No
Details...  


Limited Access Saver
1.40%
Instant £1
  1. No
  2. Yes
  3. No
  4. No
Details...  


HiSAVE SuperSaver Savings Online Account
1.40%
None £1
  1. Yes
  2. No
  3. No
  4. No
Details...  


Online Saver Issue 13
1.40%
Inc 0.74% bonus for 12 months
None £1
  1. Yes
  2. No
  3. No
  4. No
Details...  


PostSave Easy Access (2)
1.40%
None £500
  1. Yes
  2. Yes
  3. Yes
  4. Yes
Details...  


eSaver 95 (Issue 3)
1.40%
95 Day £25000
  1. Yes
  2. No
  3. No
  4. No
Details...  
Compare
Last Updated: Friday 19 December 2014 17:27

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.

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

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 £5,640 in 2012-13)
    Savings in a cash ISA earn tax-free interest, so it can really boost your monthly income if you’re a taxpayer. For example, a 3.00% cash ISA is the equivalent of a savings account that pays 3.75% if you’re a basic rate taxpayer. 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. For example, a fixed rate bond that pays 4% could pay an extra £13 per month over a variable rate account paying 3% (based on a savings pot of £20K, and assuming that you pay basic rate tax). 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

Advertisements:

Savings Tools

Monthly Savings PlanMonthly Savings Plan
Find out what your regular savings plan could be worth.

Lump Sum InvestmentsLump Sum Investments
Use our interest calculator to work out what interest you could earn on your lump sum. Find out what your lump sum investment plan could be worth.

Pensioner Bond FAQs
Pensioner Bond FAQs

Everyone’s talking about the Pensioner Bond at the moment, and with good reason! Boasting impressive... More

365 savings accounts now beat inflation
365 savings accounts now beat inflation

The latest official inflation figures, released this morning, show that the Consumer Prices Index (C... More

Pensioner Bond rates confirmed
Pensioner Bond rates confirmed

More details about the much-anticipated Pensioner Bonds were finally released late on Friday, and it... More

6 of the best short-term bonds
6 of the best short-term bonds

If you’re looking for the best returns on your hard-earned cash, but don’t want to lock your money a... More

Savers withdrawing more thanks to poor returns
Savers withdrawing more thanks to poor returns

There’s no getting away from it – savings rates aren’t exactly enticing at the moment. Unfortunately... More

Islamic Sharia’a compliant savings accounts
Islamic 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

Savings accounts for over 50s
Savings accounts for over 50s

Savings accounts for the over 50s can offer a better rate, but not always. Make sure you always comp... More

2-yr fixed rate ISA holds onto chart position
2-yr fixed rate ISA holds onto chart position

AA has made a slight reduction to its two-year fixed rate ISA, but it has maintained its competitive... More

Post Office ISAs stay in the top 10
Post Office ISAs stay in the top 10

Post Office has reviewed its savings offerings and amended rates by up to 0.20%, allowing two of its... More

Post Office savings storm the charts
Post Office savings storm the charts

Post Office has reviewed its savings offerings and amended rates by up to 0.20%, as well as introduc... More

Fixed rate bonds make waves in the charts
Fixed rate bonds make waves in the charts

United Bank UK has increased selected rates by up to 0.54%, catapulting three of its accounts into t... More

2-yr fixed rate bond goes straight to the top
2-yr fixed rate bond goes straight to the top

Secure Trust Bank has unveiled a new two-year savings bond, which has shot straight to the top of th... More