4.07%AER 12 month boosted rate

Chip Easy Access Account

Our easy access savings account, designed for long-term savings.

Open today and earn 2.74% AER (variable tracker)1

New customers can earn 4.07% AER (variable tracker)1 for 12 months

Then the standard rate of 2.74% AER (variable tracker)

Interest accrues daily, paid monthly

Easy access with instant deposits and withdrawals

Three penalty-free withdrawals in a 12 month period.

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12.74% AER (variable tracker), comprised of 2.71% gross interest which tracks 1.29% under the Bank of England base rate, paid monthly. Chip account required. AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year. After 3 withdrawals within a 12 month period the rate will revert to 0.64% AER (variable tracker) for the remainder of the 12 month period since opening the account.

1T&Cs apply. 4.07% AER (variable tracker). Comprised of an underlying standard AER of 2.74% (2.71% gross, which tracks 1.29% under the Bank of England base rate), plus a 1.33% AER (1.29% gross) boost applied for 12 months from the day you open the account.


If you make 3 withdrawals within a 12 month period your rate will drop by 2.10% to either; 1.97% AER (variable tracker with the boost above applied), or; 0.64% AER (variable tracker with no boost applied); for the remainder of the 12 month period since opening the account. For more information see the Chip Easy Access Summary Box.


AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.

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Eligible deposits are protected under Financial Services Compensation Scheme up to £85,000.

Earn 4.07% AER

We’re giving new customers the chance to earn a higher interest rate of 4.07% AER (variable tracker) on their Chip Easy Access Account for their first 12 months with the account.

Simply open a Chip Easy Access Account, and we'll apply a 1.33% AER boost for 12 months on top of the standard rate of 2.74% AER (variable tracker).

This offer is for new customers only, see more information in the Chip Easy Access Account Summary Box.

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Please note: This promotion cannot be used in conjunction with any other Boosted Rate Promotion. Only one promotional rate can be applied to your Chip Easy Access account at any one time.

To be eligible for the Boosted Easy Access Promotional Rate you must be a new Chip customer. A new customer is defined as someone who has never previously transacted in a Chip account and has no other promotional rates applied on any Chip products.

How to open your
Chip Easy Access Account

We've made it easy to start building wealth with our savings accounts. No forms or fuss, get started in just a few minutes.

Download

Get started by downloading the Chip app from the App Store or Google Play.

Sign up

Follow our in-app prompts to set up your account.

Open a Chip Easy Access Account

On the ‘Savings’ tab of your Chip app, select the Chip Easy Access.

Connect your bank

In order to make near instant saves and withdrawals, you just need to connect your bank. Follow the simple steps to add your account in a few taps.

You’ve claimed your boost!

The boost will be applied to your account automatically. Make your first deposit via bank transfer and that’s it.

Accrues daily, paid monthly

Earn 2.74% AER

The rate is a variable tracker with a gross rate of 1.29% under the Bank of England base rate. It's available to all new and existing Chip members.


A gross rate of 2.71% puts the underlying standard rate at 2.74% AER (variable tracker).


Read more about tracker rates at Chip.
Designed for long-term wealth-building

3 penalty-free withdrawals every 12 months

If you exceed 3 withdrawals in a 12-month period, your overall interest rate will be reduced by a margin of 2.10% AER.‍


The Easy Access Saver account allows 3 penalty-free instant withdrawals every 12 months.

The Easy Access Saver account allows 3 penalty-free instant withdrawals every 12 months - starting from the day you open the account.


If you exceed 3 withdrawals in a 12-month period, your overall interest rate will be reduced by a margin of 2.10% AER.


With the rate boost applied this would give you a reduced rate 1.97% AER (variable tracker) until your rate boost expires, then it would drop to 0.64% AER for the remainder of your 12 month period.

Easy access

Instantly deposit and withdraw your money when you want it

This is an easy access savings account (as opposed to a notice or a fixed-term account).

We understand that ready access to savings is important for our members, which is why this account enables instant withdrawals and deposits via bank transfer. There’s no limit to the amount you can move in one go.

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Getting Started

How to open your Easy Access Saver account.

We've made it easy to start building wealth with our savings accounts. No forms or fuss, get started in just a few minutes - download the app via Google Play or App Store.

Find 'Savings' tab

On the ‘Savings’ tab of your Chip app, you can choose from a range of savings accounts offering great interests rates and chances to win big prizes.

Connect your bank

In order to make near instant saves and withdrawals, you just need to connect your bank. Follow the simple steps to add your account in a few taps.

Start saving!

Make your first deposit via bank transfer, from your Chip savings accounts or debit card and that’s it. Your account is open!

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Covered by FSCS

All money deposited into a savings or investment account through Chip is eligible for cover by the Financial Services Compensation Scheme (FSCS), subject to FSCS conditions.

The first £85,000 you deposit into your savings account is covered by FSCS, meaning that in the unlikely event that one of our banking partners fails, you will be protected and your money will be safe. Find out more about how we keep your money safe.

You are covered up to £85,000 per bank whether your deposits are made via Chip or not. The Chip Easy Access Saver is provided by UK authorised ClearBank, who also provides other Chip products. This means deposits held across the Chip Cash ISA, Chip Instant Access, Easy Access Saver and Chip Prize Savings Account would be eligible for a total of £85,000 of FSCS protection ONLY.

Opening a Chip account takes just a few minutes. No forms, no fuss.

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1. Download Chip

Head to the App Store or Google Play Store.

2. Create an account

Enter a few details and pass a quick check.

3. You're good to go!

Choose from our range of finance products.

FAQs

Everything you’ve ever wanted to know about the Chip Easy Access Account and open banking. Find all our up to date terms here.

How does the Chip Easy Access Promotion work?

We are offering new customers (people who joined Chip within the last 14 days) the chance to apply a rate boost of 1.33% AER for 12 months, this results in a boosted rate of 4.07% AER (variable tracker).


All your interest accrues daily based on the total AER figure and will be paid monthly.


Following the expiration of the boosted rate, your Chip Easy Access Saver Account rate will revert to the standard rate of 2.74% AER.


For more information see our Chip Easy Access Summary Box.

How Easy Access Saver rates work for new and existing Chip customers

New customers: The 12 month 4.07% AER (variable tracker), is a temporary boost rate (+1.33% AER for 12 months) and is only available to new customers who join Chip using a valid promo code. The offer began on 07 August 2025. See the terms here.


Existing customers: If you’re an existing Chip customer, you’ll either earn the standard rate (see below), unless you are currently on another promotional rate. You can find your rate details in your app.


Standard/basic rate: The standard rate for the account is 2.74% AER, with a gross rate of 2.71%.


Tracker rate: The gross rate for the Chip Easy Access Saver tracks at 1.29% below the current Bank of England base rate. This means when the base rate moves up or down, your rate will move on the same day.


Read more about how our tracker rates work here.

What is the interest rate for the Chip Easy Access Saver Account?

The Chip Easy Access Saver account offers a competitive gross rate of 2.71%, this tracks the Bank of England base rate minus 1.29%. Once compounding is accounted for you get an underlying standard rate of 2.74% AER (variable tracker).

The Chip Easy Access Saver account offers a competitive gross rate of 2.71%, this tracks the Bank of England base rate minus 1.29%. Once compounding is accounted for you get an underlying standard rate of 2.74% AER (variable tracker).


We are paying a rate boost of 1.33% AER for 12 months, this results in a boosted rate of 4.07% AER (variable tracker).‍


All your interest accrues daily based on the total AER figure and will be paid monthly.


Following the expiration of the boosted rate, your Chip Easy Access Account rate will revert to the basic rate of 2.74% AER.

How many penalty-free withdrawals can I make per year?

You are allowed 3 penalty-free withdrawals in a 12-month period.


If you exceed 3 withdrawals in a 12-month period, your overall interest rate will be reduced by a margin of 2.10% AER.

With the rate boost applied this would give you a reduced rate 1.97% AER (variable tracker) until your rate boost expires, then it would drop to 0.64% for the remainder of those 12 months.

What happens if I exceed the allowed number of penalty-free withdrawals?

It's important to plan your withdrawals carefully if you wish to maintain the higher interest rate.


If you exceed the set number of 3 penalty-free withdrawals in the 12-month period (which commences on the date your account is opened), your interest rate will be reduced by a margin of 2.10% AER.

With the rate boost applied this would give you a reduced rate 1.97% AER (variable tracker) for the remainder of those 12 months (until your rate boost expires, then it would drop to 0.64% AER).

When does my 12 month rate boost start?

This begins from the moment you enter a valid promo code and deposit at least £1.
‍
You need to open the account, enter the promo code and deposit at least £1 within 14 days of downloading the app.

What happens with my boosted rate once I withdraw more than 3 times?

If you exceed 3 withdrawals in a 12-month period, your overall interest rate will be reduced by a margin of 2.10% AER.


With the rate boost applied this would give you a reduced rate 1.97% AER (variable tracker) until your rate boost expires, then it would drop to 0.64% AER for the remainder of those 12 months.

Can I transfer money between accounts without affecting my interest rate?

Transfers between different accounts, whether within Chip or to an external account, are considered withdrawals.

To maintain the standard/basic interest rate, it’s important to limit your withdrawals to a maximum of three per year.

Is there a minimum balance required to open or maintain this account?

No, there is no minimum balance required to open or maintain a Chip Easy Access Saver account.

You can start with any amount that suits your savings goals and build your balance over time.

But note to get the 1.33% 12 month rate boost, you will need deposit at least £1 in your Chip Easy Access within 14 days of entering the promo code.

How often is interest paid on the Chip Easy Access Saver?

Interest on the Chip Easy Access Saver accrued daily and paid out monthly (on the fourth working day of the month). This means you can see your savings grow consistently over time, with interest added to your account each month.

Still have questions?

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