Monthly Isa payments

By THIS IS MONEY
Updated:

 

I HAVE a Tessa which will be maturing towards the end of this month. As I am now partially retired I require a TESSA-only ISA (TOISA) which can give monthly interest payments rather than annual. Do you know of any providers who do? RL, Ashford, Kent.

Patrick Connolly of Chartwell Investment services says: Assuming it?s a deposit TOISA you want, there are only eight shown in the tables from financial data provider Moneyfacts.

The best payer with a monthly interest option is Investec Bank at 5% for £1,000 up. Then there are four at 5.25%: Bank of Scotland (from 5%-5.25% depending on amount), Britannia BS (five-year TOISA, £3,000+), Coventry BS (£1,000+)and Scottish BS. Intelligent Finance pays 5.01%, Direct Line pays 4.95% and Standard Life bank pays 4.4%-4.5% depending on amount and notice period.

Most watched Money videos