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Which company has the best monthly interest savings accounts?

It can be hard to work out the difference between all the types of savings accounts, but the most easiest to understand is perhaps the monthly interest savings accounts. It basically does exactly what the title says. It is an account that is usually the most flexible of them all as it allows access anytime without notice. The interest rate is then paid into your account monthly. The hard part is deciding which bank is right for you. Take a look below at the top three accounts according to moneysupermarket.com.

First up, is the top rate account Santanders eSaver account. With the best rate of 3.10% interest and a 12 month added bonus interest of 2.6%, this is a great savings account for many. The minimum deposit is just £1 and has both unlimited withdrawals and deposits with no penalties. The account is accessible through online and telephone banking. Find out more at santander-products.co.uk.

Next is the ING Direct Savings Account with the same top rate and a slightly lower bonus interest. The account has an interest rate of 3.10% with a twelve months bonus of an added 2.56%. With a minimum investment of just £1 and instant withdrawals that incur no penalties, it is no wonder why this is one of the best monthly interest savings accounts. The account can be accessed online and through the phone. Take a look at ingdirect.co.uk for more information on this account.

Lastly is the Nationwide My Save Online Plus Account. This account again has a good interest rate of 3.05% with an added bonus of 1.51% for the first twelve months. Although this is great, the downside is that it requires an opening investment of £1000 and has just one free withdrawal per year - the rest incur penalties. The upside of this monthly interest savings account is that it allows unlimited deposits. As it states in the title this is an online account and therefore is only accessible via the internet. Nationwide.co.uk has more information.

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