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 1764 accounts
 

1.74%
120 Day £1000
  1. Yes
  2. No
  3. No
  4. No
Details...
Go to Site
 

1.69%
90 Day £1000
  1. Yes
  2. No
  3. No
  4. No
Details...
Go to Site
 

1.66%
120 Day £500
  1. Yes
  2. No
  3. No
  4. No
Details...  

1.53%
expected rate
120 Day £1000
  1. Yes
  2. No
  3. No
  4. No
Details...  

1.52%
95 Day £5000
  1. Yes
  2. No
  3. No
  4. No
Details...
Go to Site
 

1.50%
120 Day £5000
  1. No
  2. Yes
  3. Yes
  4. No
Details...  

1.46%
60 Day £1000
  1. Yes
  2. No
  3. No
  4. No
Details...  

1.36%
30 Day £1000
  1. Yes
  2. No
  3. No
  4. No
Details...  

1.36%
35 Day £1000
  1. Yes
  2. No
  3. No
  4. No
Details...  

1.35%
None £1
  1. Yes
  2. No
  3. No
  4. No
Details...  
  Sponsored Products  

1.30%
None £100
  1. Yes
  2. No
  3. No
  4. No
Details...
Go to Site
 

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 £20,000 in 2018/19)
    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?

Search all monthly interest savings accounts & ISAs

Guide to monthly interest accounts
Savings guides

 

 
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

Highest number of savings rises since December
Highest number of savings rises since December

With official statistics revealing that inflation once again remained at 2.4% in June, savers will n... More

Average fixed bond rates reach two-year high
Average fixed bond rates reach two-year high

While many savers may be reluctant to put their savings into a fixed rate account, given ongoing spe... More

Easy access market sees some sign of recovery
Easy access market sees some sign of recovery

The average no notice rate now sits at its highest point since August 2016, following two consecutiv... More

6 of the best long-term bonds
6 of the best long-term bonds

Fixed rate bonds can be one of the best ways to secure a decent return from your money, but if you r... 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

Tesco’s top-three easy access account
Tesco’s top-three easy access account

Tesco Bank has increased several of its savings rates by up to 0.19%, as a result of which its easy ... More

Wyelands’ notice account competes
Wyelands’ notice account competes

Wyelands Bank has increased selected rates by up to 0.41%. The standout change took place in its not... More

Secure Trust Bank dominates notice chart
Secure Trust Bank dominates notice chart

Secure Trust Bank has increased the rates on its 90- and 120-day notice accounts by 0.02%. This is e... More

Zenith improves two-year bond rate
Zenith improves two-year bond rate

Zenith Bank (UK) Ltd has raised the rate on its two-year fixed rate bond by 0.12%, as a result of wh... More

Tesco’s easy access saver improved
Tesco’s easy access saver improved

Tesco Bank has increased several rates, including the one on its easy access account, which sees it ... More

Close