Monthly interest savings accounts - 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 1488 accounts
 

1.05%
95 Day £1000
  1. Yes
  2. No
  3. No
  4. No
Details...  

1.02%
None £100
  1. Yes
  2. No
  3. No
  4. No
Details...
Go to Site
 

1.01%
Inc 0.75% bonus for 12 months
None £1
  1. Yes
  2. No
  3. No
  4. No
Details...  

1.01%
60 Day £1000
  1. Yes
  2. No
  3. No
  4. No
Details...  

1.00%
None £1
  1. No
  2. Yes
  3. No
  4. No
Details...  

1.00%
None £500
  1. Yes
  2. No
  3. Yes
  4. Yes
Details...  

0.99%
None £2500
  1. No
  2. No
  3. Yes
  4. No
Details...  

0.95%
None £1
  1. Yes
  2. No
  3. No
  4. No
Details...  

0.91%
30 Day £1000
  1. Yes
  2. No
  3. No
  4. No
Details...  

0.90%
30 Day £500
  1. No
  2. Yes
  3. No
  4. No
Details...  
Compare
Last Updated: Tuesday 24 January 2017 14:26

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.

The UK Government has proposed to increase the deposit protection level from £75,000 to £85,000 of eligible deposits from 30 January 2017.

Disclaimer:
All rates subject to change without notice. Please check all rates and terms before investing or borrowing.
Search All Savings Accounts >>
 
Eligible deposits with UK institutions are protected by the Financial Services Compensation Scheme up to a maximum level of protection of £75,000 per person per institution.


 
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

 

 
 
 

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.

Just 44 savings accounts beat inflation
Just 44 savings accounts beat inflation

Inflation recorded another large jump during December, and predictably, this has had a devastating i... More

Just 47% have money in a savings account
Just 47% have money in a savings account

We’re often told of the importance of saving, yet unfortunately, the message doesn’t always get thro... More

How much will you save this year?
How much will you save this year?

Many of us have set savings goals for the year ahead, and planning to budget better and save more wi... More

How to make your savings go further this year
How to make your savings go further this year

The start of a new year is always a good time to sort out your finances, and this year, focusing on ... More

Top accounts to kickstart your 2017 savings habits
Top accounts to kickstart your 2017 savings habits

Is one of your resolutions to save more this year? If so, bravo! It's something we all need to get i... 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

Union Bank of India improves fixed bonds
Union Bank of India improves fixed bonds

Union Bank of India (UK) Ltd has increased selected fixed term savings rates by up to 0.20%, which s... More

BLME improves all fixed bonds
BLME improves all fixed bonds

BLME has increased rates across its range of fixed bonds, which sees all deals improve their positio... More

Charter Savings Bank launches 5yr bond
Charter Savings Bank launches 5yr bond

Charter Savings Bank has launched a new five-year fixed rate bond, which has entered the Best Buy ch... More

Hanley Economic’s new 2yr fixed bond
Hanley Economic’s new 2yr fixed bond

Hanley Economic BS has launched a new two-year fixed bond, which has entered the Best Buy chart for ... More

New monthly savings account goes top
New monthly savings account goes top

Hanley Economic BS has launched a new monthly savings account, which has entered two Best Buy charts... More

Close