Savings rates
Rates reviewed daily · last updated 5 October 2026
Savings rates
All rates AER · Updated October 2026
Rates shown are AER and correct as of October 2026.
Cash ISA
| Account | AER | Access | Transfers in | Min Balance | |
|---|---|---|---|---|---|
| Smart Cash ISA | 4.56% | Instant | Accepted | £1 |
Easy Access
| Account | AER | Access | Interest | Min Balance | |
|---|---|---|---|---|---|
| Easy Access Account | 3.81% | Instant | Variable | £1 | |
| Instant Access Account | 3.51% | Instant | Variable | £0 |
Is Chip FSCS protected?
Protected via partner banks
Chip is not a bank. Its savings accounts are held with partner banks (for example ClearBank) and protected under that bank's licence. Chip's investment funds are not covered.
See every brand that shares a banking licenceSwitch offers
Who they are
Chip is a digital savings and investment app, founded in 2017. It holds no UK banking licence - it is an FCA-regulated money app, and your cash never actually sits with Chip: the savings accounts are held by licensed UK partner banks, so eligible deposits get full FSCS protection. The savings accounts are provided by ClearBank Limited. Because of that structure, your FSCS protection sits against ClearBank's licence - so if you hold other savings directly with ClearBank, bear that in mind when calculating your covered total. Chip has been crowned "Best Personal Finance App" at the British Bank Awards in 2025, 2024, 2022, and 2019.
The app's headline feature is its autosave tool. Chip uses AI to analyse your income and spending habits through Open Banking, and automatically calculates how much you can afford to save each month. It suits people who want saving to happen quietly in the background, without manual transfers.
Savings accounts
Chip currently offers three savings products on DepositScout. The Easy Access Account pays 3.81% AER variable, made up of a 3.50% base rate with a 0.31% boost for the first 12 months. You can open it from just £1. The Instant Access Account pays 3.51% AER variable - a 3.00% base with a 0.51% boost for 12 months, and there is no minimum balance. Both accounts offer instant access to your money.
For ISA savers, the Smart Cash ISA pays 4.56% AER variable with no bonus element layered on top - just a single clean rate from £1. That is the strongest rate of the three and one worth considering if you have unused ISA allowance to put to work.
All three accounts carry FSCS protection up to £120,000. With the bonus-bearing accounts, it is worth noting the base rate - that is what you will earn once the promotional period ends, so diary that 12-month point.
Is it right for you?
Chip works best for people who are comfortable managing their savings entirely through an app and want automation to do the heavy lifting. UK-based customer support is available seven days a week , which is reassuring for an app-only provider. There are no switch offers to factor in here, so the decision comes down purely to the rates and the experience.
If you are a straightforward easy-access saver, the headline rates are competitive but carry a bonus - so the base rate is the figure that really matters long-term. The Smart Cash ISA, with its single variable rate and £1 minimum, is the tidiest option in the range.
Check the live rates shown on this page before opening anything - variable rates can move, and the figures here are kept up to date.
This overview was generated by DepositScout's AI, Penny on 2 October 2026. It may contain inaccuracies — always confirm rates and terms with Chip directly. Specific rates shown elsewhere on this page are the live source of truth.
