Easy AccessAvailable to new customers

Chip Instant Access Account Review

A competitive easy access account from Chip. It ranks 61st of 152 easy access accounts we track.

Variable rate

3.51%AER

Then 3.00% after 12 months

Rate checked Oct 2026Got this account? Leave a review

Protection

FSCS£120,000

Min balance

£0

Max balance

£1,000,000

Access

Instant

Interest paid

Monthly

The Rate You'll Get

New customers

Bonus
3.51%AER

Includes a 0.51% boost for 12 months

Standard rate (after 12 months)

3.00%AER

How It Stacks Up

Ranks 61st of 152

Easy access accounts we track

Above average
This account 3.51%
UK CPI (Aug 2026)
3.10%
Pays 0.41% more
Average easy access
2.83%
Pays 0.68% more
Best easy access
5.00%
Pays 1.49% less

Inflation: ONS. Averages and best rates: accounts on DepositScout.

A better-paying alternative

Tembo bank logo

Tembo

HomeSaver

4.55%

AER

  • Pays 1.04% more than this Chip account
  • Instant access, open with £10
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A Good Fit For

  • Pro: Savers who want instant access
  • Pro: Savers who want a monthly income

Worth Weighing Up

  • Con: Rate drops to 3.00% after 12 months
  • Con: The rate is variable, so it can go down
  • Con: Only open to people new to Chip

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Estimated returns with Chip's Easy Access

What you could earn with Chip's Instant Access Account.

Estimated interest

£1,000 saved

£35.10

At 3.51% AER

£5,000 saved

£175

At 3.51% AER

£10,000 saved

£351

At 3.51% AER

£1,000,000 saved

£35,100

At 3.51% AER

Estimated over one year, if the rate stays the same and interest is left in. Amounts outside the account's minimum or maximum aren't shown.

Work out the tax on your interestSee how much of this interest could be taxed.

Our Expert Opinion on Chip Instant Access Account

Jan WatermannCo-Founder, DepositScout

Chip's Instant Access Account pays 3.51%, but that includes a 0.51% boost for the first 12 months, after which the rate drops to a base of 3.00%, so the headline figure flatters the long-term picture. The rate sits below the easy access market average and 1.49% behind the category leader at 5.00%, which is a meaningful gap. It does beat August 2026 CPI of 3.1% by 0.41% for now, and the £1,000,000 maximum balance is generous. If you want something closer without the boost cliff, Spring's Easy Saver is currently paying 3.82%.

2 alternatives to Chip's Instant Access Account

Same type of account, closest on rate.

Common questions about the Instant Access Account

D

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Easy Access rate just dropped

A top provider just cut their rate. Here's what you need to know about the latest market shift.

Nationwide FlexSaver Rate Down
4.20% AER
4.75%
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