Monthly Interest Accounts

Disclaimer: The rates shown are for information purposes only. Although endeavours have been made to provide accurate and timely information, Investment Sense Ltd cannot be held responsible for any errors or omissions of the information supplied.

All rates are subject to change without notice, please check with the bank or building society before investing. With fixed term notice savings accounts you can’t usually withdraw your money until the notice term has ended. Penalties may apply.

Eligible deposits are protected by the Financial Services Compensation Scheme ‘FSCS’ up to a maximum level of £85,000 per person per registered institution.

United Bank UK 7 Year Fixed Term Deposit

AER
Notice/Term
Minimum Required
Account Opening
1.45%
7 Years
£2,000
Branch, Post
More Details

UBL UK 5 Year Fixed Term Deposit

AER
Notice/Term
Minimum Required
Account Opening
1.50%
5 Years
£2,000
Branch, Post
More Details

Aldermore 4 Year Fixed Rate Account

AER
Notice/Term
Minimum Required
Account Opening
1.22%
4 Years
£1,000
Internet
More Details

UBL UK 3 Year Fixed Term Deposit Account

AER
Notice/Term
Minimum Required
Account Opening
1.40%
3 Years
£2,000
Branch, Post
More Details

Family Building Society 2 Year Fixed Rate Bond (17)

AER
Notice/Term
Minimum Required
Account Opening
1.05% £10,000+
0.85% £5,000
2 Years
£10,000 - for 1.05%, but account can be opened with £5,000
Internet, Branch, Post
More Details

Atom Bank 1 Year Fixed Saver

AER
Notice/Term
Minimum Required
Account Opening
1.01%
1 Year
£50
Via App
More Details

NS&I Income Bonds

0.01% from 24/11/20
AER
Notice/Term
Minimum Required
Account Opening
1.16%
None
£500
Internet, Telephone, Post
More Details

Coventry Building Society Double Access Saver (Online) (4)

2 penalty free withdrawals allowed each year, any further withdrawals subject to 50 day loss of interest
AER
Notice/Term
Minimum Required
Account Opening
0.96%
None
£1
Internet
More Details

ICICI Bank UK SuperSaver Savings Account

AER
Notice/Term
Minimum Required
Account Opening
0.75%
None
£1
Internet, Telephone, Branch
More Details

Atom Bank Instant Saver

AER
Notice/Term
Minimum Required
Account Opening
0.75%
None
£0
Mobile
More Details

Monthly Interest Accounts

For those people looking to create an income from their savings Monthly Interest Accounts could be the answer.

As the name suggests rather than accruing the interest to the savings balance it is paid away each month to a separate account, perfect for people who need to supplement their income.

These types of accounts can offer Instant Access to your savings, however the longer you are prepared to tie up your savings, either in a Notice or Fixed Rate account, the better the rate of interest will be.

Monthly Interest Accounts can be especially useful for pensioners looking to increase their pension income or investors who need an income but want to avoid the stock market.

Unless held in as a Cash ISA (Individual Savings Account) or by a non tax payer, the interest is subject to tax, which needs to be factored in when calculating the net income payable.