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 1561 accounts
 


120 Day Notice
1.81%
120 Day £250
  1. Yes
  2. Yes
  3. Yes
  4. Yes
Details...  


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


HiSAVE Remittance Account
1.50%
None £1
  1. Yes
  2. No
  3. No
  4. No
Details...  


Branch Notice Saver (Issue 3)
1.40%
90 Day £1
  1. No
  2. Yes
  3. No
  4. No
Details...  


Triple Access Saver Issue 3
1.40%
Instant £100
  1. No
  2. Yes
  3. Yes
  4. No
Details...  


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


Chiltern Gold Income Generator Issue 6
1.40%
180 Day £1000
  1. No
  2. Yes
  3. Yes
  4. No
Details...  


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...  
Compare
Last Updated: Thursday 17 April 2014 10:29

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.

How much do you have left over each month?
How much do you have left over each month?

What’s left in your back pocket at the end of the month and what do you do with it – spend what litt... More

159 savings accounts now beat inflation
159 savings accounts now beat inflation

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

Children becoming a generation of mini savers
Children becoming a generation of mini savers

Getting into the savings habit from an early age is something that should always be encouraged, and ... More

6 of the best homes for your money
6 of the best homes for your money

We’re always being told of the importance of saving and building up a valuable nest egg, and that me... More

The widening gender gap in savings habits
The widening gender gap in savings habits

It’s always nice to know you’re putting something away for your future, but unfortunately it seems t... 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

Competitive saving from Marsden BS
Competitive saving from Marsden BS

Marsden BS has reviewed rates on its range of notice accounts with the 95-day account remaining in t... More

New bonds from Close Brothers
New bonds from Close Brothers

Close Brothers Savings has launched new two and three-year fixed rate bonds suitable for those with ... More

Shawbrook increases 18 month bond
Shawbrook increases 18 month bond

Shawbrook Bank has changed the issue and increased the rate by 0.20% on its 18-month fixed rate bond.... More

Shawbrook’s competitive 2 yr bond
Shawbrook’s competitive 2 yr bond

Shawbrook Bank has changed the issue and increased the rate on its two-year bond by 0.20% seeing it ... More

Shawbrook’s competitive 1yr bond
Shawbrook’s competitive 1yr bond

Shawbrook Bank has increased the rate on its one-year bond by 0.15% seeing it shoot up the Moneyfact... More