Monthly or annual interest??

vixen1500

Monthly interest 4.41% added to account
Or
Annual interest 4.5%

Is there any difference in the total amount of interest you receive?

refluxer

As 4.41% gross monthly = 4.50% AER, they should essentially pay out the same amount* provided the monthly interest is left in the account and allowed to compound.

*there may be a very small difference of a few pence to a pound or so, depending on the amount saved

SnowMan

The key thing is whether the AER is the same for the monthly and annual options.

(1+0.0441/12)^12-1 = 4.50% 

So it is likely that you are comparing 4.41% gross monthly with 4.5% gross annual. And as both have the same AER of 4.5%pa there is essentially no difference (ignoring minor differences).