MSE News

Chase boosts interest rate on easy-access saver to 2.1% – but you can get higher rates elsewhere

Chase, the app-based bank account, is boosting the interest rate on its linked easy-access savings account to 2.1% – its first rate rise since the bank's launch last year. New and existing savers will automatically get the new rate from Monday 24 October – but you can already get higher easy-access rates elsewhere.

The challenger bank currently pays interest of 1.5% on up to £250,000 on its easy-access saver, which is linked to its current account. This was a market-leading rate when it first launched in September 2021, but has since been overtaken following a series of rises to the UK base rate and increased competition in the savings market.

Chase has been one of's top pick debit cards since it launched, due to its generous 1% cashback offer and its fee-free spending and cash withdrawals abroad. It has more than one million customers.

See our Top savings accounts guide for the latest easy-access, notice and fixed account rates.

Both new and existing customers will get the new rate automatically

If you open a new Chase saver account from Monday 24 October, you'll get the new rate of 2.1%.

Existing customers will also have the new rate automatically applied to their accounts from the same date.

But in either case, it could be worth looking at other options, as you can earn more interest elsewhere.

Top easy-access savings currently pay up to 2.55%

While Chase's new rate is likely to put it among the top payers, it is currently beaten by other providers.

For example, right now Skipton Building Society offers 2.55% on its limited-access account which allows two withdrawals per year, while app-only bank Zopa pays 2.15% on its straightforward easy-access account with unlimited withdrawals. 

And you can boost rates further – up to 5.12% – if you're willing to jump through a few hoops or if you don't need instant access to your cash. See our Top savings guide for more info and options.

Digital banking competitor Marcus is also boosting rates

In related news, Goldman Sachs-owned savings provider Marcus will also be increasing the rates on its standard easy-access account and its Cash ISA to 2% tomorrow (up from 1.8% currently). This will be made up of an underlying rate of 1.75% and a bonus rate of 0.25%.

If you're an existing customer, your rate will increase automatically – but you should check that you've got the bonus active on your account. See our Marcus bonus MSE News story for more info.

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