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.
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 1728 accounts
 

1.55%
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...  

1.40%
95 Day £5000
  1. Yes
  2. No
  3. No
  4. No
Details...
Go to Site
 

1.35%
Includes a Bonus
See Details
None £750
  1. Yes
  2. No
  3. No
  4. Yes
Details...  

1.31%
90 Day £10000
  1. Yes
  2. No
  3. No
  4. No
Details...  

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

1.30%
120 Day £5000
  1. No
  2. Yes
  3. No
  4. No
Details...  

1.22%
None £1
  1. Yes
  2. No
  3. No
  4. Yes
Details...  

1.21%
None £1
  1. Yes
  2. No
  3. No
  4. No
Details...  

1.20%
None £1000
  1. Yes
  2. No
  3. No
  4. No
Details...  
Compare
Last Updated: Sunday 25 February 2018 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.

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

 

 
46-day limit on lifestyle without income
46-day limit on lifestyle without income

The average family would only be able to maintain their lifestyle for 46 days if they were to lose t... More

6 of the best two-year bonds
6 of the best two-year bonds

Fixed rate bonds are still the best way to secure a guaranteed return on your savings, but given ong... More

13th consecutive month of savings rate rises
13th consecutive month of savings rate rises

The savings market hasn’t exactly had us jumping for joy recently, yet interest rate rises have outw... 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

Easy access leapfrogging brings savings hope
Easy access leapfrogging brings savings hope

Challenger banks are still doing their best to keep the savings market exciting, as they’ve spent th... 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

OakNorth’s 30-month bond and 1-year ISA now top
OakNorth’s 30-month bond and 1-year ISA now top

OakNorth Bank has amended certain savings rates, which sees its 30-month fixed bond and one-year ISA... More

Vanquis’ leading three, four and five-year bonds
Vanquis’ leading three, four and five-year bonds

Some of Vanquis Bank’s bonds have had their rates increased, which sees the three-year account retai... More

Ikano Bank increases fixed bond rates
Ikano Bank increases fixed bond rates

Ikano Bank has increased selected fixed rates by up to 0.10%. Now, its two-year bond has entered the... More

Ikano’s two-year bond enters Best Buys
Ikano’s two-year bond enters Best Buys

Ikano Bank has increased the rate on selected fixed term bonds by up to 0.15%, which sees its two-ye... More

Atom tops one-year bond chart
Atom tops one-year bond chart

Atom Bank has increased the rate on its one-year fixed rate bond by 0.05%, as a result of which it n... More

Close