If you are using deposit interest to pay living expenses you would rather receive it on a monthly basis, I'd assume.
Deposit interest is taxable income in the year in which it is received.
If you were a Dirt-exempt investor coming near to breaching an annual exemption limit, you might choose monthly interest to keep under the threshold.
Or, if you feared the current Dirt exemption might be withdrawn you would wish to have the gross interest received before any possible change.