Fixed saving account

nonolerigolo

Is there a website for fixed rate saving account which list if the interest can be paid monthly  to an external account. I understand interest can be paid monthly, annually or on maturity.  Is that possible to have interest paid monthly to an external account and external  provider. This is so that the interest is not paid at maturity. Thank you

Expotter

https://moneyfacts.co.uk/savings-accounts/fixed-rate-bonds/ will give you that information when you look at View Further Details

Bigwheels1111

Having a look around only easy access accounts pay monthly.
Then just move the money to your bank.
Al Ryan is 2.1%.

Expotter

Actually there are several banks that pay interest monthly on fixed rate bonds and allow you to pay it away to a different account. Paragon for example or Ford Money, the only problem is that the interest won't be compounded.

Daliah

Bigwheels1111 said:

Having a look around only easy access accounts pay monthly.
Then just move the money to your bank.
Al Ryan is 2.1%.

Several fixed term accounts also have a pay monthly option. Generally, you have to specify a different account to receive the interest. Thus you lose the compounding, but if you need the monthly income, it's a good option.

kaMelo

Moneyfacts do have a sub category called "Monthly Interest Fixed Rate Bonds" which lists the 1-5 year fixed rate accounts where the interest can be paid away monthly.