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 1613 accounts
 


95 Day Notice Issue 1
1.75%
95 Day £1000
  1. Yes
  2. No
  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...
Proceed
 


60 Day Notice Issue 1
1.55%
60 Day £1000
  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...  


Defined Access E-Saver
1.41%
None £1
  1. Yes
  2. No
  3. No
  4. No
Details...  


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


30 Day Notice Issue 1
1.40%
30 Day £1000
  1. Yes
  2. No
  3. No
  4. No
Details...  


eSaver 95 (Issue 3)
1.40%
95 Day £25000
  1. Yes
  2. No
  3. No
  4. No
Details...  
Compare
Last Updated: Sunday 29 March 2015 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.

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

 

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.

All savings accounts now beat inflation!
All savings accounts now beat inflation!

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

Savers get a boost in this year’s Budget
Savers get a boost in this year’s Budget

Yesterday’s Budget had plenty of surprises for savers, with a raft of measures aimed at offering mor... More

6 of the best notice savings accounts
6 of the best notice savings accounts

If you’re looking to secure the best rate on your savings, you generally have one of two options...... More

The future of savings
The future of savings

What does the future hold for the savings market? According to The Savings and Investments Policy pr... More

Where does your money go?
Where does your money go?

Seeing your paypacket go into your account is always going to raise your spirits, but by the end of ... 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

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

Competitive new notice accounts
Competitive new notice accounts

Charter Savings Bank has bolstered its savings offerings with two new variable notice accounts, both... More

Easy access account moves up charts
Easy access account moves up charts

Virgin Money has boosted the rate of its easy access account by 0.06%, allowing it to move up the Mo... More

Hinckley & Rugby BS rewards loyal savers
Hinckley & Rugby BS rewards loyal savers

Loyal customers of Hinckley & Rugby Building Society will welcome the launch of a new one-year bond,... More

Fixed ISAs bolster their chart positions
Fixed ISAs bolster their chart positions

Virgin Money has increased selected ISA rates by up to 0.10%. Two accounts receiving the benefits of... More

Fixed rate bond and ISA enter charts
Fixed rate bond and ISA enter charts

Norwich & Peterborough Building Society has increased selected savings rates by up to 0.15%. As a re... More