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 1594 accounts
 


90 Day Notice Deposit
1.70%
90 Day £10000
  1. No
  2. Yes
  3. Yes
  4. No
Details...  

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


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


Income Generator Issue 3
1.41%
90 Day £5000
  1. Yes
  2. Yes
  3. Yes
  4. No
Details...  


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

WeBSaveR Limited Access Account
1.40%
None £1000
  1. Yes
  2. No
  3. No
  4. No
Details...
Proceed
 


Branch Saver 95 (issue 3)
1.40%
95 Day £25000
  1. No
  2. Yes
  3. No
  4. No
Details...  


60 Day Notice Issue 10
1.35%
60 Day £1000
  1. Yes
  2. Yes
  3. Yes
  4. No
Details...  

Online Saver Issue 11
1.30%
Inc 0.39% bonus for 12 months
None £1
  1. Yes
  2. No
  3. No
  4. No
Details...
Proceed
 


Virgin Easy Access E-Saver Issue 12
1.30%
None £1
  1. Yes
  2. No
  3. No
  4. No
Details...  
Compare
Last Updated: Wednesday 30 July 2014 19:28

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.

6 of the best easy access savings accounts
6 of the best easy access savings accounts

Easy-access savings accounts are as simple as they sound – they allow you to access your money whene... More

Holidays or the home – what do your savings go on?
Holidays or the home – what do your savings go on?

We all know the value of savings, but people can often have different priorities when it comes to th... More

6 of the best three-year fixed rate bonds
6 of the best three-year fixed rate bonds

Fixed rate bonds are the best, and often only, way to secure a decent return from your money. Thanks... More

Is the cost of your holiday taking its toll?
Is the cost of your holiday taking its toll?

It’s the time of year when we all dream of jetting off on a well-earned holiday, but sometimes there... More

72 savings accounts now beat inflation
72 savings accounts now beat inflation

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

Melton Mowbray increases Affinity rate
Melton Mowbray increases Affinity rate

This latest review sees Melton Mowbray Building Society significantly increase the rate on its Air A... More

Top 10 savings from Kent Reliance
Top 10 savings from Kent Reliance

Kent Reliance has reviewed its savings range and increased fixed bond rates by up to 0.14%, as well ... More

Competitive no notice saving from West Brom
Competitive no notice saving from West Brom

West Brom Building Society has extended its range of internet accounts by launching a brand new offe... More

New easy access saving from Nottingham BS
New easy access saving from Nottingham BS

Nottingham Building Society has re-entered the easy access sector with the launch of a new variable ... More

Leeds BS’ 4% bond
Leeds BS’ 4% bond

Leeds Building Society has re-launched its 10-year fixed rate bond paying an impressive 4.00% gross ... More