4.84%
AER

Chip Cash ISA

Designed to keep more of your interest in your pocket. Built to move with the market and reward you fast, the Chip Cash ISA is a tax-efficient, flexible way to save.

Earn a 4.84% AER (variable tracker).

Earn interest monthly, tax free.

Withdraw without impacting your annual ISA allowance.

4.6 rating 26k reviews
T&Cs apply. 5.00% gross variable, 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. The calculator on this page is just an example and not based on your individual circumstances. It assumes that you don’t add or take out any money during the year, and that there was no change to the interest rate during the 12 months. Standard Chip rate: 4.84% AER variable // 4.74% Gross. Boost: 0.28% on the AER // 0.26% on the gross. Boosted rate: 5.12% AER variable // 5.00% Gross. See Terms & Conditions.
Get Started

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

For a limited time, sign up to Chip with your exclusive promo code.

The more you deposit, the bigger the bonus. Save at least £5,000 into Chip’s Cash ISA and you could be eligible for a bonus on your deposit amount.

Deposit: £5,000

Bonus: £10

Code:

Deposit: £10,000

Bonus: £30

Code:

Deposit: £15,000

Bonus: £40

Code:

Deposit: £20,000

Bonus: £50

Code:

How much tax I can save with Cash ISA?

The key benefit of a Cash ISA, compared to a standard savings account is the tax free returns over your personal savings allowance.

This is a projection only. There is no commitment to deposit. Chip does not provide tax advice. Tax treatment depends on individual circumstances and may be subject to change in the future.
If your taxable income is £12,571 to £50,270
Taxable income is used to calculate your Personal Saving Allowance and income tax band. For more info on Personal Tax Allowance, visit: gov.uk/income-tax-rates
£1,000 tax-free allowance
Non-ISA
Unlimited allowance
Cash ISA
If your taxable income is £50,271 to £125,140
Taxable income is used to calculate your Personal Saving Allowance and income tax band. For more info on Personal Tax Allowance, visit: gov.uk/income-tax-rates
£500 tax-free allowance
Non-ISA
Unlimited allowance
Cash ISA
If your taxable income is more than £125,140
Taxable income is used to calculate your Personal Saving Allowance and income tax band. For more info on Personal Tax Allowance, visit: gov.uk/income-tax-rates
£0 tax-free allowance
Non-ISA
Unlimited allowance
Cash ISA

Why the Chip Cash ISA

The Chip Cash is fully flexible, allowing you to deposit up to £20,000 per tax year and withdraw when it suits you - without impacting your ISA allowance. With no tax on your interest earned, it's the smarter way to grow your wealth.

Open in minutes

No forms, no fuss. All you need is an existing bank account and your National Insurance number.

Seamless experience

Open your Chip Cash ISA and deposit from £1 as often as you like.  Manage everything in your Chip app.

No withdrawal limits

We don't limit your withdrawals or reduce your interest rate for accessing your money.

Almost double the highest ‘Big Four’ easy-access interest rates.

The Chip Cash ISA is more than just a tax-efficient, flexible, and secure way to save money; it’s been built to help your money grow in a sustainable way that broadens your wider wealth building portfolio.

2.50%
Highest of the ‘Big Four’* Cash ISA Accounts
4.84%
The Chip Cash ISA
T&Cs apply. 4.84% AER. Chip account required. *‘Big Four’ refers to: Barclays Instant Cash ISA, Lloyds Cash ISA saver, NatWest Cash ISA, HSBC Cash ISA. Rates vary between 1.21% to 2.50% AER, as of June 18 2024. In this calculation we work out how many times greater our Cash ISA 4.84% rate is against the 2.50% HSBC Cash ISA rate. Returns assume that rate remains the same for the year and £10,000 is held in the account with no further deposits or withdrawals.

Cash ISA transfers are here

Opening a Chip Cash ISA is simple and takes just a few minutes. You can initiate and track your ISA transfer in-app, and our award-winning customer support team is always here to help.

1. Download Chip: Get the app from the App Store or Google Play;
2. Open a Chip Cash ISA: Set up your account quickly and easily;
3. Request your transfer: When your Chip Cash ISA is open, tap the ‘Transfer’ button to request your transfer;
4. We'll do the rest: Sit back and relax as we handle the nitty-gritty.

What is the tax allowance?

Your total contributions for the current tax year will still be capped at £20,000. Please note that we can’t accept partial transfers; if you wish to bring your existing cash ISA(s) to Chip, you will need to transfer your entire balance.

You can initiate and track your ISA transfer in-app, and our award-winning customer support team is always here to help.

Will it effect my current year's allowance?

You can transfer your full cash ISA balance (i.e., your contributions from previous years' ISA allowances) into your Chip Cash ISA without it affecting your current year's allowance.

Total flexibility

The Chip Cash ISA is a flexible ISA, which means you can withdraw and deposit (almost instantly) as many times as you like, without it affecting your annual £20,000 ISA allowance. Giving you the freedom to take your money out and put it back in when it suits you, with no restrictions or penalties.

With other providers, withdrawn funds can lose that tax-free status and will be taken off your ISA allowance. To add to that, you may be limited to a few withdrawals a year, or face a reduction to your interest rate for accessing your money. But not with Chip.

Hands-free saving

Autosaving is one of the many ways Chip empowers you to save effortlessly. By using our award-winning automatic saving feature, the app will intelligently save money for you based on your chosen autosave level.

Leveraging open banking, Chip seamlessly integrates with your linked bank account, meaning we can create personalised autosaves that align with your unique needs and spending behaviours. It's a tailored saving solution that adapts to your financial habits.

You made a save!
Now
You saved £47.24 automatically.
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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 Cash ISA is provided by UK authorised ClearBank Ltd, who also provides the Prize Savings Account and the Chip Instant Access Account. This means deposits held across the Chip Cash ISA, Chip Instant Access and Chip Prize Savings Account would be eligible for a total of £85,000 of FSCS protection ONLY.

How to redeem the offer

You must be a new customer to Chip, enter your promo code in the Profile tab of the app and save cumulatively at least £5,000. Must have a Chip Cash ISA open with no minimum balance.

Offer valid until:

Download

Scan QR code to download Chip and open an account.

Get Chip
4.6 rating 26k reviews
2

Enter your promo code for your deposit amount.

Find 'Promos & Referrals' on the profile tab and enter your code. You can find a list of codes above.

3

Deposit into your Instant Access Account.

You must hold this deposit amount in the Chip Cash ISA account for 6 months for the bonus amount to be added.

Download

Scan QR code to download Chip and open an account.

Get Chip
4.6 rating 26k reviews
2

Enter your promo code for your deposit amount.

Find 'Promos & Referrals' on the profile tab and enter your code. You can find a list of codes above.

3

Deposit into your Instant Access Account.

You must hold this deposit amount in the Chip Cash ISA account for 6 months for the bonus amount to be added.

Download

Scan QR code to download Chip and open an account.

Get Chip
4.6 rating 26k reviews
2

Enter your promo code for your deposit amount.

Find 'Promos & Referrals' on the profile tab and enter your code. You can find a list of codes above.

3

Deposit into your Instant Access Account.

You must hold this deposit amount in the Chip Cash ISA account for 6 months for the bonus amount to be added.

Chip does not provide tax advice. Tax treatment depends on individual circumstances and may be subject to change in the future.
Getting Started

How to open a Chip savings 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, debit card or Apple/Google pay and that’s it. Your account is open!

FAQs

Everything you've ever wanted to know about the Chip Cash ISA. Find all our up to date terms here.

What’s the Bank of England base rate of interest?

The Bank of England Bank Rate, often simply referred to as the base rate, is the interest rate at which the Bank of England lends money to commercial banks. It serves as a benchmark for all other interest rates in the economy, influencing the rates that banks offer on their lending and savings products.

The Monetary Policy Committee (MPC), a group within the Bank of England, sets the base rate based on economic conditions, with the primary aim of managing inflation. MPC decisions are widely reported on and their meeting notes are a matter of public record. 

What is a Cash ISA?

A Cash ISA (Individual Savings Account) is a type of savings account available to residents in the United Kingdom. It allows individuals to earn interest without paying income tax on the interest earned. Cash ISAs are considered a tax-efficient way to save because any interest earned within the ISA is tax-free.

What is a tracker rate?

The Chip Cash ISA has a tracker rate. This means the gross interest rate is variable and tracks at 0.26% below the current Bank of England base rate.

Basically, when the base rate moves up or down, your savings rate will move on the same day. This ensures it automatically stays competitive and in line with the wider market. Read more here

What is the annual ISA allowance and when does it reset?

The annual ISA allowance is £20,000 across the four different types of ISAs available, this includes the Cash ISA.

For example, if you had £10,000 in your Chip Stocks and Shares ISA and £10,000 in a Chip Cash ISA, you would have reached your annual ISA limit. Your annual ISA allowance resets at midnight 5 April 2024.

After this point we are in a new tax year and your new £20,000 ISA allowance comes into effect.

What does a flexible ISA mean?

A flexible ISA allows individuals to withdraw money from their ISA accounts and then replace it within the same tax year without affecting their annual ISA allowance. Also, if you withdraw your money in our Cash ISA, you won’t receive any restrictions or penalties.

When is interest paid?

Interest is paid on the fourth working day of each month.

If you deposit:
£10,000
In one year you’d earn:
£484.00
Use code:
SNP5K
Your bonus:
£30.00

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

Get StartedGet Started
4.6 rating 26k reviews

1. Download Chip

Head to the App Store or Google Play Store.

2. Enter your promo code

Find ‘Promos & Referrals’ and enter your code.

3. Deposit into your account

Money must be held in the account for 6 months.