Do some pay interest monthly?

Chewingawasp_2

Hi.

I'm hoping to save a bit for a wedding, but there isn't a whole lot of time before the due date - planned for October of this year.

Looked at some ISAs, for instance the RBS Cash ISA Plus - but despite calculating interest daily this only pays out every March. No use at all for me, at least for this specific purpose.

I know this may seem like a stupidly simple question, but asking folk at the same time as scouring the web makes things a bit more manageable.

Are there any ISAs (or good saving accounts in general) at all who pay interest monthly instead of yearly?

Lokolo

If you close the account any interest accured but not paid will be paid out with the closure.

But there are a few ISAs which pay monthly interest.

97trophy

The Nat West cash ISA plus pays monthly interest.

http://www.natwest.com/personal/savings/g2/isas/cash-isa-plus.ashx#tabs=section3

rb10

If you will be using all the savings in October, it's probably best to get a normal account (i.e. not an ISA), as at the moment, for short-term savings, the rates on them (even after paying tax) are generally higher.

There are lots of good savings accounts that do pay monthly interest, but if you don't mind me asking, why are you after an account that pays it monthly? If you open an account now and close it in October, then regardless of when interest is normally paid, you will get it up until the date of closure (although note that Nationwide's e-Savings Plus is a sneaky exception to this rule). So it's not a problem to get an account that pays interest annually, and just close it then, unless you actually will need the interest in the meantime.

Lansdowne

http://www.thechelsea.co.uk/savings/invest_bond_intro.html
Chelsea pays 3%pa after tax and it matures 2nd of October.

Stavros_3

Savings rates are poo at the moment. I use the Bradord and Bingley (now issue7) that pays monthly. But you need a good wedge in any savings account to pay owt decent