Monthly income account.
- Thread starter kingrollo
- Start date
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fossyant
Ride It Like You Stole It!
- Location
- South Manchester
Can't say I do, but I've one of those accounts that seems to empty itself daily ! Only get's topped up once a month.
If I'm interpreting your terminology correctly..
I have a couple of savings accounts with Charter Savings which offer interest payment either monthly or annually and I think offer the option to pay the interest into another account, but if not one of theirs it has to be the "nominated account" - i.e. the one you use to transfer money in / out - so most likely your current account.
They do ISAs and regular accounts, rates are usually decent (hovering around 4.6 and 4% respectively last time I looked), website's straightforward to use if sometimes a bit clunky / glitchy.
I have a couple of savings accounts with Charter Savings which offer interest payment either monthly or annually and I think offer the option to pay the interest into another account, but if not one of theirs it has to be the "nominated account" - i.e. the one you use to transfer money in / out - so most likely your current account.
They do ISAs and regular accounts, rates are usually decent (hovering around 4.6 and 4% respectively last time I looked), website's straightforward to use if sometimes a bit clunky / glitchy.
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annedonnelly
Girl from the North Country
- Location
- Canonbie
My Chase savings account pays interest monthly and lets me make a regular monthly payment into another account. I don't think it would automatically move the interest, but once you know what the monthly interest is you could set the amount for the payment.
It's app only & the rate's currently 4.5%. You need to open the current account and then you get the option of the savings. I don't use the current account for anything.
It's app only & the rate's currently 4.5%. You need to open the current account and then you get the option of the savings. I don't use the current account for anything.
vickster
Squire
There are ISAs that pay interest monthly (usually at a lower rate). Won't be much at all at around 4% on 20k, under £70 a month if my maths serves. If not an ISA of course you'll pay tax on any interest over £500 if high rate taxpayer/£1000 if basic on any non ISA accounts in your name
If you like a bit of a gamble, could put in premium bonds, I had £500 tax free this month (on full holding)
If you like a bit of a gamble, could put in premium bonds, I had £500 tax free this month (on full holding)
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Dag Hammar
Über Member
- Location
- Essex
I can wholeheartedly recommend Kent Reliance. Myself, wife and daughter all have various accounts with Kent Reliance, we’ve got one Easy Access account, several ISA’s built up over the years and a few One Year Fixed Rate Bonds.
You can choose annual or monthly interest and if you wish to receive monthly interest ( as you do ) it is paid into your nominated account i.e. your current account with another bank.
I have to emphasise that all transactions are done on line and money going into and coming out from K R accounts is swift and their website is as easy as pie to navigate and to use. And the icing on the cake……..you can call them and speak to a human being if you really need to.
As at today, they are offering an Easy Access account paying 3.75% annually = 3.69% p.a. if interest paid monthly.
A One-Year Fixed Rate Bond paying 4.47% annually = 4.38% p.a. if interest paid monthly.
###++## I have no connection whatsoever with Kent Reliance as I am too far away from any of their Branches but my family are so pleased with the ease with which we can manage our accounts online that we have no inclination to jump ship.
https://www.kentreliance.co.uk/products
You can choose annual or monthly interest and if you wish to receive monthly interest ( as you do ) it is paid into your nominated account i.e. your current account with another bank.
I have to emphasise that all transactions are done on line and money going into and coming out from K R accounts is swift and their website is as easy as pie to navigate and to use. And the icing on the cake……..you can call them and speak to a human being if you really need to.
As at today, they are offering an Easy Access account paying 3.75% annually = 3.69% p.a. if interest paid monthly.
A One-Year Fixed Rate Bond paying 4.47% annually = 4.38% p.a. if interest paid monthly.
###++## I have no connection whatsoever with Kent Reliance as I am too far away from any of their Branches but my family are so pleased with the ease with which we can manage our accounts online that we have no inclination to jump ship.
https://www.kentreliance.co.uk/products
- Location
- Somewhere wet & hilly in NW England.
Slick service and ease of use are pretty much the default these days for Building Societies, Challenger Banks and the more well known 'High Street' banks.
We save/invest across 17 different platforms, 15 online & 2 using prehistoric offline systems (BLME & The Cumberland). The 15 online entities are all brilliant, the 2 offline entities (excellent rates) have cumbersome procedures but, probably mercifully, we have never had any problems that have needed resolving.
