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"on monthly basis" is a correct and usable phrase in written English
You can use it to indicate that something is done or happens regularly once a month. For example, "We review our progress on a monthly basis to ensure that we are staying on track."
Exact(40)
Starting in July, McDonald's will stop reporting its sales on monthly basis.
Sampling of runoff and deposition was done on monthly basis.
For histomorphology of liver and ovaries, samples were collected on monthly basis.
Twenty-seven parameters have been monitored on 25 key sampling sites on monthly basis (total of 22,350 observations).
Applying the MK for indices on monthly basis shows more distinct results than the exercise on annual basis.
Figure 4 displays the results of the trend test for 6 indices on monthly basis, indicating the number of stations that have experienced the trends.
Similar(19)
Practices are monitored on site on a monthly basis.
Multitask is currently on its seventh edition, and will continue on a monthly basis.
Those who start receiving ART are monitored on a monthly basis until they show good treatment adherence, and on three-monthly basis, thereafter.
elected to pay on a monthly basis.
Subscriptions are available on a monthly basis.
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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