We’re increasing the rate on the new Chip Easy Access Saver to 4.84% (AER) from 6 September 2024.

This will make it one of the most competitive easy access rates in the market. 

Here's the essential details:

• The Easy Access Saver account has a tracker rate which follows the Bank of England (BoE) base rate of interest. 
• On 6 September 2024, we are adding a 12 month rate boost of 0.77%
• This will increase the AER from 4.07% to 4.84%. ‍
• Find the new Easy Access Saver account summary box here (effective from 6 September 2024).

You can find more about the Easy Access Saver account in your app or on the account's web page here.

But at a glance, this is an easy access savings account (rather than a fixed term or  notice account) offering instant withdrawals. However, there is a limitation on the number of penalty-free withdrawals you can make. 

The Easy Access Saver is available to all new and existing Chip members.

Our mission: Building long-term wealth

Chip's mission is building long-term wealth for our generation.

To enable wealth-building with our app, there are two key actions our members can take;

• Being tax-efficient by using our ISAs.

• Building consistently over the long term (ideally without withdrawing).

That’s why we’ve decided to make our two most competitive savings accounts align with that goal.

The Cash ISA and Easy Access Saver will be our most competitive offerings, while the Instant Access Account will be adjusted to match the rest of the market. Read more about how Chip is adapting to a changing market, here.