what is the best monthly interest account please

losgiganteskid

I believe the best rate of return on offer currently is either with icici or icesave - but these accounts do not pay monthly interest. Does anyone know who currently pays the best interest rate for monthly interest withdrawals.

ReportInvestor

They will pay monthly interest if you ask them, and they are the best.

The rate will the slightly lower than their headline 5.45% after the interest rate rise, but the AER for the monthly and annual rates is likely to be the same.

remrats

Have just had notification from ICICI that if you have a savings account with them, you can now open another savings account paying 5.65 for six months. Possibly worth a look.

[Deleted User]

losgiganteskid wrote:

I believe the best rate of return on offer currently is either with icici or icesave - but these accounts do not pay monthly interest.

Both of these accounts do pay monthly interest if required/requested. Not sure about ICICI, but with ICESAVE there is also the option of having the interest paid internally (back to the account) or externally (away to another institution).

Having said that, the headline rate may not be the only factor in the decision-making process. Both of these institutions seem to suffer more 'administrative' problems than most. Allegedly.

[Deleted User]

remrats wrote:

Have just had notification from ICICI that if you have a savings account with them, you can now open another savings account paying 5.65 for six months. Possibly worth a look.

See this existing thread

hot_chick_2

The Alliance and Leicester Direct Saver pays 5.65% and this is paid monthly.

You do have to have a current account with them though.

tom188

hot_chick wrote:

The Alliance and Leicester Direct Saver pays 5.65% and this is paid monthly.

You do have to have a current account with them though.

No you dont.
Fine if you dont want to withdraw any money regularly, otherwise a pain bordering on useless.