Chip savings rates — compare every account, plus switch offers and guides

Who they are

Chip is a digital savings and investment app, founded in 2017 with the help of crowdfunding. It is not a traditional bank - it is fully regulated by the Financial Conduct Authority (FCA) and has around half a million active accounts. The core idea is automation: Chip analyses your spending using AI and looks at your previous spending history by checking your transaction data via Open Banking, then nudges money into savings on your behalf. Chip has been voted Best Personal Finance App at the British Bank Awards four times - most recently in 2025.

Your savings sit with ClearBank, not Chip itself. ClearBank is a UK-authorised and regulated clearing bank, and Chip has partnered with ClearBank to provide the underlying infrastructure for its FSCS-protected savings accounts - when you deposit money into a Chip savings account, it is held securely with ClearBank. This matters because if you hold money across multiple Chip savings accounts that run through ClearBank, they share a single FSCS limit.

Savings accounts

Chip currently offers four savings products. All rates are variable and include a time-limited bonus, so the headline figures will change - always check the live rates on this page.

The Easy Access Account pays 3.81% AER, made up of a 3.50% base rate plus a 0.31% bonus for the first 12 months, with a minimum deposit of just £1. The Instant Access Account pays 3.51% AER - a 3.00% base plus a 0.51% bonus for 12 months - and allows unlimited withdrawals with no minimum balance requirement.

On the ISA side, both the Cash ISA and the Smart Cash ISA currently sit at 4.55% AER. Each includes a 0.80% boost on top of a 3.75% base rate, lasting 12 months. You only need £1 to open either, and both offer instant access.

One thing to keep in mind: once the introductory bonus period ends on any of these accounts, the rate drops back to the base. Diary the date when you open, so you know when to review.

FSCS protection

The Chip Cash ISA, Chip Instant Access, Easy Access Saver, and Chip Prize Savings Account are all powered by ClearBank, meaning deposits across these accounts and any other accounts held with ClearBank are eligible for a total of £120,000 of FSCS protection only. Eligible deposits in the Smart Cash ISA are FSCS protected up to £120,000 per person, per institution. If you are saving larger sums, it is worth understanding which underlying institution each account sits with before concentrating everything in one place.

Is it right for you?

Chip is a good fit if you are comfortable managing everything through an app and want automation to do the heavy lifting. The AI autosave feature is a genuine differentiator for people who find it hard to save consistently - though if you want a regular recurring saving amount there is no charge, but the autosave feature charges 45p per save transaction, which can add up if you are saving smaller amounts frequently.

The Cash ISA rates are competitive for an app-based provider, and the instant access on all four accounts keeps your money reachable. There is no switching offer at present. Chip is app-only, so if you prefer a web browser or branch, it is not for you.

As always, the rates above change regularly - check the live figures on this page before you decide.