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 1551 accounts
 

1.15%
120 Day £500
  1. Yes
  2. No
  3. No
  4. No
Details...  

1.10%
None £100
  1. Yes
  2. No
  3. No
  4. No
Details...
Go to Site
 

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

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

1.01%
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 £500
  1. Yes
  2. No
  3. Yes
  4. Yes
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...  

0.90%
60 Day £25000
  1. No
  2. Yes
  3. Yes
  4. No
Details...  
Compare
Last Updated: Tuesday 28 February 2017 00:07

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.

Eligible deposits with UK institutions are protected by the Financial Services Compensation Scheme up to a maximum level of protection of £85,000 per person per institution.

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

Top fixed bond rate highest in 10 months
Top fixed bond rate highest in 10 months

Challenger banks are causing a storm in the fixed rate bond sector, and happily, it’s the highest ra... More

Brits set to save £93.5bn in 2017
Brits set to save £93.5bn in 2017

It seems that the recent signs of improvement in the savings market could be having an impact on sav... More

Long-term fixed bond rates rise
Long-term fixed bond rates rise

The average long-term fixed bond rate has risen by 0.05% to 1.30% this month, the first time such a ... More

Top 6 inflation-beating fixed rate bonds
Top 6 inflation-beating fixed rate bonds

Inflation jumped to 1.8% in January, which means just 23 savings accounts now pay a rate that can ma... More

Britain is still a nation of savers
Britain is still a nation of savers

It hasn’t exactly been a great time to be a saver in the last few months, which is why it’s so reass... 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

Secure Trust launches new savings accounts
Secure Trust launches new savings accounts

Secure Trust Bank has launched a new one and three-year fixed bond, and a market-leading 90-day noti... More

Atom Bank’s fixed bonds top the charts
Atom Bank’s fixed bonds top the charts

Atom Bank has increased fixed bond rates by up to 0.50%, which has seen its one, two, three and five... More

Vanquis Bank increases 4 and 5yr bond rates
Vanquis Bank increases 4 and 5yr bond rates

Vanquis Bank has increased selected fixed bond rates by up to 0.20%. This has enabled its four-year ... More

Tiered easy access savings rates risen
Tiered easy access savings rates risen

Sainsbury’s Bank has increased selected rates by 0.05%, which has made its easy access account appea... More

Skipton’s easy access account competes
Skipton’s easy access account competes

Skipton BS has increased selected rates by up to 0.16%, which has made its easy access account compe... More

Close