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- New Chip customers can now get their Easy Access Cash ISA by paying 5.21%
- Chip has added a 0.11% bonus to his Easy Access Cash ISA
- Savers have until tomorrow, July 31, to obtain the bonus
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Savers can get a Chip Cash ISA that tops the charts and pays 5.21 per cent interest.
Chip’s Isa* Currently it has a limited additional bonus of 0.11 percent for new customers who open an account on its app.
Existing Chip customers will continue to receive a rate of 5.1 percent, as the bonus is not automatically added to the underlying rate.
Turbo boost: Chip has added a bonus rate to its Best Buy Cash ISA, taking the rate to 5.21%.
Customers must enter the code ISABOOST when opening an account when prompted on the Chip website to receive the enhanced rate.
But savers will have to act quickly if they want to get this top rate, as the offer ends tomorrow, July 31, at 11:59 p.m.
The ISA can only be opened by downloading the Chip app and savers can open it with deposits starting from £1.
The enhanced rate beats every other Isa rate in This is Money’s best buy tables. It’s one of This is Money’s top five cash Isas of 2024.
The next best cash ISA offered by the investment platform Trade 212* which offers a flexible 5.2 per cent cash-paying ISA but comes with FSCS protection through a combination of three banks.
The Chip ISA has recently become more attractive as it now accepts transfers into its Easy Access Cash ISA, owned by the top 5.1 per cent.
Prior to this, Chip did not accept transfers from other ISAs and there was a notification on their website stating that customers could sign up to be notified when Chip was ready to accept ISA transfers.
The Cash ISA, first launched in February this year, quickly shot up to almost the top of the ISA best buys charts.
Chip’s Isa* It has the added benefit of being flexible, meaning savers can withdraw money and pay it back without using the ISA’s £20,000 annual allowance.
The only caveat is that you have to replace the cash in the same tax year. The fact that it now accepts transfers makes it even more attractive.
What’s in Chip’s Isa’s fine print?
Chip’s Easy Access Isa card can be opened with as little as £1.
The account can only be opened by downloading the Chip app. There are no limits on how many times you can withdraw your money and Chip will not reduce the interest rate for accessing your money.
The interest is variable and follows the Bank of England base rate. When the base rate goes up or down, your savings rate will move on the same day.
Those thinking of opening the account should keep this in mind, as the base rate could be reduced in August or September, meaning the Chip interest rate will likely fall from 5.1 percent.
The 0.11 percent bonus will be maintained above the underlying interest rate and will last for one year from the moment the client opens the account with the additional bonus.
All money deposited into the Chip settlement remains held by ClearBank and is eligible for Financial Services Compensation Scheme protection of up to £85,000 per person.
This FSCS protection means that savers’ cash is protected up to £85,000 per person if the company goes bust.
SAVE MONEY, EARN MONEY
Boosting investment
Boosting investment
5.09% cash for Isa investors
Cash Isa at 5.17%
Cash Isa at 5.17%
Includes 0.88% bonus for one year
Free stock offer
Free stock offer
No account fees and free stock trading
5.21% cash Isa
5.21% cash Isa
Use code ISABOOST before July 31st to get a 0.11% boost
Transaction fee refund
Transaction fee refund
Get £200 back in trading commissions
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