Savings Accounts with Chip

We’re not just any savings account.

Chip is not just *a* savings account. We’re doing savings differently.

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Join over 500,000+ people building real wealth today.

FSCS covered

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.

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Easy withdrawals

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.

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Competitive rates

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.

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Our Accounts

Meet our savings accounts.

We currently offer three savings accounts…

Prize Savings Account

Make your savings exciting.

Easy Access Account

Free and easy, with daily compounding interest.

90-day Notice Account

Resist temptation and get a higher rate.

"I love this app. I love Chip savings. Instead of saving my pennies into a jar, Chip saves it for me AND pays me interest!"

Carolyn B.

"Chip has completely transformed how I manage my money. Within a year I had reached all my savings goals and for first time am growing my money through investments."

Mark B.

Fabulous savings app. Hardly miss the small amounts taken from my bank account but quickly accumulate savings to treat myself. Just love it. So easy too.

Jo H.

More reasons to save with Chip.

Build wealth automatically with savings plans.

All our savings accounts work with our Savings Plans, so you can automatically build your savings without thinking about it. 

You can use both our award-winning Auto-Saving technology and our new Recurring Saves feature to build bespoke fully customised savings plans. Read more here.

Safe and secure

All our savings accounts are covered by FSCS.

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.

Read more about how we keep your savings safe here.

Building wealth for our generation

Savings with Chip.

If your savings are just sitting in your bank account, chances are they’re earning 0.1% interest. You deserve better.

Unlike your bank, we’re always fighting to bring you the best interest rates we can get.

Choose your account

How to choose the best savings account.

There is no ‘best’ savings account, only the one that’s best for you. We’ve made sure to offer a range of savings accounts with competitive rates and exciting prizes.

Prize draw savings accounts

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.

Our Prize Savings Account powered by ClearBank is a prize draw savings account.

Easy-access savings accounts

Easy-access savings accounts enable you to withdraw and deposit whenever you want free of penalties.

Our Allica Bank Savings Account and Prize Savings Account are easy-access savings accounts.

Instant-access savings accounts

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.  

Our Prize Savings Account powered by ClearBank is an instant access savings account.

Notice savings accounts

Notice savings accounts require advance notice before you withdraw any of your money. Typically 30, 60 or 90 days, but it can be longer.

Our OakNorth 90-Day Notice Account is a notice savings account (the clue’s in the name)

What is the best savings interest rate?

Short answer: it depends. Obviously the higher the rate the better. But interest rates vary between different accounts.

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.

Savings interest rates are measured in AER (Annual Equivalent Rate)

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 or fixed bonus rates?

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.

Variable or fixed savings rates?

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.

How does Chip fight to get the best interest rate?

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. 

Why do savings rates change?

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.

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