If you would like to open a cash ISA with monthly interest, you could find it useful to compare cash ISAs from several different providers. This could help you to secure the best possible deal available to you. Cash ISA’s paying monthly interest could have a range of benefits, as well as drawbacks. Some of the potential benefits that could come from taking out cash ISA with monthly interest are that; the payments could supplement your monthly income with interest payments, your savings will be tax free and as a consumer you will a wide range of account types to choose from.
A potential downside for some people could be that there is a limit to the amount that you could deposit each year, which applies even if you have made withdrawals and your account balance is below the yearly allowance.