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The phrase "a monthly rate" is correct and usable in written English.
It can be used when discussing costs or fees that are charged on a monthly basis, such as subscriptions or services.
Example: "The gym offers a monthly rate of $30 for unlimited access to all facilities."
Alternatives: "a monthly fee" or "a monthly charge".
Exact(56)
"Members" then pay a monthly rate.
The year's worth of dial-up Internet service that buyers must agree to purchase has a monthly rate of $23.90.
Showhomes charges homeowners a fee for their services, in addition to charging a monthly rate to the home manager.
The couple would repay the town at a monthly rate below the savings on their utility bill.
One of many such rooms being rented out illegally, Dominique paid a monthly rate of €330 (£271).
Another unit of the same size was listed for a monthly rate of $4,657, or about $155 per night.
Mr. Bell said lenders were issuing reverse mortgages at a monthly rate of about 8,000, compared with roughly 6,000 a year ago.
Similar(4)
The upmarket area of Charlottenburg in West Berlin has an monthly rental price of 637 euros (£482) whereas Gloucester Road, a London equivalent, has an monthly rate is £1960.
WestportNow.com charges a $120 monthly rate for a small ad and $1,000 for a banner ad.
Students can pay at a fixed monthly rate, through an interest-only payment, a full monthly payment and they always have the option to defer.
Now assume that the servicer grants a new loan, that is affordable, but at a lower monthly rate, which avoids a foreclosure.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com