eas-acq-boost-rate for 12 months
Chip Easy Access Account
Our easy access savings account, designed for long-term savings.
New customers can earn eas-acq-boost-rate AER (variable tracker)* for 12 months
Then the standard rate of eas-underlying-rate AER (variable tracker)*
Interest accrues daily, paid monthly
Easy access with instant deposits and withdrawals
Three penalty-free withdrawals in a 12 month period.
If you make 3 withdrawals within a 12 month period your rate will drop by eas-penalty-amount to either; eas-acq-penalty-rate AER (variable tracker with the boost above applied), or; eas-penalty-rate AER (variable tracker with no boost applied); for the remainder of the 12 month period since opening the account. See terms and conditions.
AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.
Eligible deposits are protected under Financial Services Compensation Scheme up to £85,000.
Offer for new customers
Boost your Chip Easy Access Saver rate for 12 months.
We’re giving new customers the chance to earn a higher interest rate of eas-acq-boost-rate AER (variable tracker) for your first 12 months with the Chip Easy Access Saver Account.
Simply open the account today, enter the promo code eas-acq-code and we’ll apply a eas-acq-boost-amount AER boost for 12 months on top of the standard rate of eas-underlying-rate AER (variable tracker). Terms apply.
This offer is for new customers only, see more details about our rates for all customers below.
How to get the boosted rate
To qualify for the rate boost, you need to be a new Chip customer. If that’s you, here’s how to take advantage of the rate boost.
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Download
Get started by downloading the Chip app from the App Store or Google Play. Then follow the in-app prompts to set up your account.
Get Chip
Enter the promo code
In your app, go to Profile > Promos & Referrals > Enter promo code within 14 days of downloading the app.
eas-acq-code
Open a Chip Easy Access
Deposit at least £1 in your Chip Easy Access within 14 days of entering the promo code.
Download
Get started by downloading the Chip app from the App Store or Google Play. Then follow the in-app prompts to set up your account.
Get ChipEnter the promo code
In your app, go to Profile > Promos & Referrals > Enter promo code within 14 days of downloading the app.
eas-acq-code
Open a Chip Easy Access
Deposit at least £1 in your Chip Easy Access within 14 days of entering the promo code.
Download
Get started by downloading the Chip app from the App Store or Google Play. Then follow the in-app prompts to set up your account.
Get ChipEnter the promo code
In your app, go to Profile > Promos & Referrals > Enter promo code within 14 days of downloading the app.
eas-acq-code
Open a Chip Easy Access
Deposit at least £1 in your Chip Easy Access within 14 days of entering the promo code.
What is the rate boost promotion?
We’re currently offering a rate boost promotion for new customers only
Standard Easy Access
- after 12 months, £1,035.60
This is just an example that assumes that you do not add or take out any money and that there was no change to the interest rate during the period.
eas-acq-code
- after 12 months, £1,047.60
This is just an example that assumes that you do not add or take out any money and that there was no change to the interest rate during the period.
How Chip Easy Access Saver rates work for new and existing Chip customers
New customers: The 12 month eas-acq-boost-rate AER (variable tracker), is a temporary boost rate (+eas-acq-boost-amount AER for 12 months) and is only available to new customers who join Chip using a valid promo code. The offer began on 25 April 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 eas-underlying-rate AER, with a gross rate of eas-gross-rate.
Tracker rate: The gross rate for the Chip Easy Access Saver tracks at 1.00% 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.
3 penalty-free 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 eas-penalty-amount AER.
With the rate boost applied this would give you a reduced rate eas-acq-penalty-rate AER (variable tracker) until your rate boost expires, then it would drop to eas-penalty-rate AER for the remainder of your 12 month period.
Easy access
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.
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.
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Opening a Chip account takes just a few minutes. No forms, no fuss.
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.
We are offering new customers (people who joined Chip within the last 14 days) the chance to apply a rate boost of eas-acq-boost-amount AER for 12 months, this results in a boosted rate of eas-acq-boost-rate 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 eas-underlying-rate AER.
For more information see our Terms and Conditions and FAQ’s.
The Chip Easy Access Saver account offers a competitive gross rate of eas-gross-rate, this tracks the Bank of England base rate minus 1.00%. Once compounding is accounted for you get an underlying standard rate of eas-underlying-rate AER (variable tracker).
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 eas-penalty-amount AER.
With the rate boost applied this would give you a reduced rate eas-acq-penalty-rate AER (variable tracker) until your rate boost expires, then it would drop to eas-penalty-rate for the remainder of those 12 months.
It's important to plan your withdrawals carefully if you wish to maintain the higher interest rate.
If you exceed the set number of three 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 eas-penalty-amount AER.
With the rate boost applied this would give you a reduced rate eas-acq-penalty-rate AER (variable tracker) until your rate boost expires, then it would drop to eas-penalty-rate AER for the remainder of those 12 months.
This begins from the moment you enter a valid promocode and deposit at least £1.
You need to open the account, enter the promocode and deposit at least £1 within 14 days of downloading the app.
If you exceed 3 withdrawals in a 12-month period, your overall interest rate will be reduced by a margin of eas-penalty-amount AER.
With the rate boost applied this would give you a reduced rate eas-acq-penalty-rate AER (variable tracker) until your rate boost expires, then it would drop to eas-penalty-rate AER for the remainder of those 12 months.
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.
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 eas-acq-boost-amount 12 month rate boost, you will need deposit at least £1 in your Chip Easy Access within 14 days of entering the promo code.
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.
