Better rates, monthly prizes and award-winning AI to help build your wealth. We’re doing savings differently.
All the money deposited into our accounts is covered by the FSCS, and we're regulated by the FCA. To read more about how we keep your savings safe click here.
You can easily move your money in and out at the tap of a button. There’s minimal forms and minimal fuss. No more endless scrolling and switching to get a better savings rate.
We pool our customers’ money and negotiate with banks to bring you the best accounts we can get, then we keep fighting to get better rates on those accounts.
We currently offer four savings accounts, all in one app.
Better returns today, not tomorrow.
Earn a 3.82% AER (variable) paid monthly.
Deposit and withdraw almost instantly.
Get started with deposits as little as £1, up to £250,000.
Make your savings exciting.
Win up to £50k prizes each month.
The more you deposit, the more entries you have.
Save up to £85,000 FSCS protected (subject to eligibility).
Resist temptation and get a higher rate.
4.10% AER (variable) paid monthly.
Withdraw with 90 days notice.
Powered by OakNorth Bank.
With daily compounding interest.
1.10% AER (variable) paid daily.
Withdraw any time.
Powered by Allica Bank.
By doing your research and choosing a savings account that meets your needs, you can build a strong financial foundation and reach your savings goals more quickly. Make sure you take the following things into account when choosing the right savings account for you:
Consider what you’re saving for and choose an account that aligns with your specific goal. For example, for a short-term goal, look for an account with a high interest rate and no minimum balance requirement.
Work out how often you’ll need to access your savings and what access options you prefer. For example, all Chip savings account are available and accessible via our savings app only.
Determine how much you want to save and ensure the account you choose has features that align with your desired savings amount, such as high interest rates or additional incentives.
Look for accounts with additional features and benefits such as a mobile savings app that help you manage your savings more effectively by track your savings progress and goals.
All our savings accounts work with our Savings Plans, so you can automatically build your savings without thinking about it. Our savings app is designed to help build your wealth.
You can use both our award-winning Auto-Saving technology and our new Recurring Saves feature to build fully customised savings plans.
A savings account is a type of bank account where you can deposit your money and earn interest on your savings over time. It’s a safe and convenient way to keep your money and watch it grow.
Instant-access savings accounts enable you to not only withdraw whenever you want, but also have your money arrive back into the current account instantly. Chip Instant Access Account
These are accounts that offer regular prize payouts instead of interest, where by depositing you get entered into a prize draw to win a large cash lump sum. Chip Prize Savings Account
Notice savings accounts require advance notice before you withdraw any of your money. Typically 30, 60 or 90 days, but it can be longer. Chip 90 Day Notice Account
Easy-access savings accounts enable you to withdraw and deposit whenever you want free of penalties.
Chip is a savings app that’s always looking to give you better savings rates. With our intelligent automatic saving tools and plans, we’re here to help grow your savings.
You can download and begin saving with our market-leading savings account for free today. Begin building your wealth effortlessly with Chip all through our savings app.
All our savings accounts are provided by UK authorised banks and any money deposited in them is eligible for the Financial Services Compensation Scheme (FSCS), where the government guarantees the return of up to £85,000.
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We’ve made it easy to start building wealth with our savings accounts. There’s no forms or fuss and you can get started in just a few minutes.
On the ‘Savings’ tab of your Chip app, you can choose from a range of savings accounts offering great interests rates and big prizes.
In order to make instant saves and withdrawals, you just need to connect your bank. Follow the simple steps to add your account in a few taps.
Make your first deposit via bank transfer, from your Chip savings accounts, debit card or Apple/Google pay and that’s it. Your savings account is open!
You can't really sell a decent single malt until it's at least 12 years old. And typically the longer whisky matures, the more valuable it gets. So as it matures, so could your investments.
Short answer: it depends. Obviously the higher the rate the better. But interest rates vary between different accounts. Learn more about interest rates.
If your savings are just sitting in your bank account, chances are they’re earning 0.1% interest. You deserve better.
At Chip we’re always fighting to bring you the best rates and our team directly negotiates with banks so you don’t have to. Sit back and let our savings app do the work for you.
This is simply a percentage rate that shows how much you’ll earn once compounding (earning interest on interest) is taken into account.
Compounding interest rates are generally better than fixed bonuses. With compound interest you earn interest on interest, with fixed bonuses you only get paid interest on the money you deposit into the account.
Banks might offer an account with a fixed interest rate, or a variable interest rate that they can change at their discretion.
The advantage of a fixed rate is obviously it won’t change, but banks often put some restrictions on withdrawals on accounts with fixed rate.
Whilst a bank can change a variable rate whenever they want (usually with a month’s notice), it means your rate can go up as well as down.
We pool your money with all Chip customers, so we negotiate with banks on your behalf, effectively enabling you to be treated like someone with hundreds of millions in the bank.
Savings interest rates broadly follow the Bank of England’s Base Rate of Interest, which is a rate the UK’s central bank moves to influence the economy.
Generally when inflation is low and they want to stimulate the economy, the rate is lower, when inflation is high and they want to slow it down, the rate is higher.
But savings rates are also influenced by the market and banks competing with each other for customers.
Join over 500,000+ people building wealth with Chip.