High Interest Accounts - Monthly Interest | 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.
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1.45%
120 Day £500
  1. Yes
  2. No
  3. No
  4. No
Details...  

1.41%
expected rate
90 Day £250
  1. Yes
  2. Yes
  3. Yes
  4. Yes
Details...  

1.26%
120 Day £1000
  1. Yes
  2. No
  3. No
  4. No
Details...  

1.25%
None £1
  1. Yes
  2. No
  3. No
  4. No
Details...  

1.20%
None £100
  1. Yes
  2. No
  3. No
  4. No
Details...
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1.20%
None £1000
  1. Yes
  2. No
  3. No
  4. No
Details...  

1.20%
60 Day £1000
  1. Yes
  2. Yes
  3. Yes
  4. No
Details...  

1.15%
None £1
  1. Yes
  2. No
  3. No
  4. No
Details...  

1.11%
90 Day £1000
  1. Yes
  2. No
  3. No
  4. No
Details...  

1.11%
Inc 0.85% bonus for 12 months
None £1
  1. Yes
  2. No
  3. No
  4. No
Details...  
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Last Updated: Wednesday 26 July 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.

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.

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All rates subject to change without notice. Please check all rates and terms before investing or borrowing.
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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
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