Banky team Reviewed editorial answerDaily or monthly returns describe the account's frequency or how they are calculated and disbursed, but this alone isn't enough to determine what's best.
Steps
Compare the return rate, tiers, minimum payout, whether the return is calculated on the lowest balance or the daily balance, and any fees.
If your balance fluctuates frequently, the calculation method might make more of a difference than the label "daily" or "monthly."
The figures, fees and limits in this answer vary by bank and change over time — confirm them with your bank or the official source before acting.