Best monthly interest savings rates
Monthly interest pays you a twelfth-style amount through the year instead of one annual payment. The AER still includes the effect of that compounding, so two accounts with the same AER pay the same over a year if the rate holds and you leave the interest in. A monthly option can quote a lower gross rate than the AER. Compare AER with AER. Use the gross monthly figure when you care about the cash that arrives each month. ClearRates orders the rows on this page by the annual equivalent rate and the account terms. A fee, where a provider pays one, does not move a row, and the first five results are never an advert. Each row shows when it was last checked, in UK time, and whether the UK Financial Services Compensation Scheme covers that licence. A rate unchecked for 48 hours is marked stale and drops out of a highest-rate headline. A rate unchecked for more than seven days stays in this list, shows the date it was last checked, and is named in the needs-check report. An empty list means those accounts are still being checked. This page is information, not a recommendation to open, switch or stay. Read the provider’s own page before moving money, including the minimum, the withdrawals and which banking licence the account uses. The FSCS limit applies per person, per authorised firm, so brands that share a licence share one limit.
61 accounts
Sorted by highest rate · Checked 17 Oct 2026, 17:30We may earn a fee if you open an account through a paid link. The top 5 results are never ads. Fees never change the order.
Questions
Is monthly interest taxed differently?
The tax follows the interest you are paid, whether it arrives monthly or yearly. An ISA is the tax-free wrapper. Outside an ISA, the personal savings allowance may apply.
Why is the monthly gross rate lower than the AER?
The AER assumes interest is compounded. The gross monthly rate is the flat rate before that compounding.