Individual savings accounts (ISAs) offer:
- Tax-free interest on your savings
- Instant access (fixed rates also available)
- Available to customers from the age of 16 or over
It is important that you make yourself aware of any restrictions that a monthly interest ISA savings account may have. For example, it could be the case that you may not be permitted to make more than a certain amount of withdrawals from the account, which may be unsuitable for your requirements. Additionally, once you have deposited your full ISA allowance, any money you withdraw cannot be replaced until the following tax year.
The key to finding the most suitable monthly interest ISA savings accounts is usually to compare several different savings account deals from different providers, as these could vary greatly in what they offer.