Last chance: Grab Chase's 5.1% easy-access savings deal before it's pulled on Wednesday

From Thursday 18 July, new and existing Chase customers – who haven't taken advantage of the deal – will only be able to get its standard linked saver, which currently pays a lower 4.1% interest.

Chase first launched its 5.1% savings offer – which is linked to its top-pick current account – in April. It then expanded the eligibility criteria to more customers in June.

How Chase's boosted saver works

The offer is technically a 1% bonus paid on top of Chase's standard linked savings rate of 4.1%. The bonus is fixed and currently lasts until 16 January 2025 (a previous iteration is due to end on 4 November 2024 – though you can still transfer across to the newer version with the later end date). After that date, you'll revert back to the standard rate – Chase says it'll let you know when this is about to happen.

However, because Chase's standard rate is variable, the overall rate you get on your boosted saver could still go up or down before the 1% bonus is due to end. As of 13 May 2024, Chase's standard rate has been set at 1.15% points below the Bank of England base rate.

So, for example, if the Bank cut the base rate from its current 5.25% to 5%, Chase's standard rate would fall from 4.1% to 3.85% – and your boosted saver would then pay 4.85% (1% on top of the standard rate).

As such, it's worth keeping an eye on your Chase rate and comparing it with our regularly-updated Top savings accounts guide to make sure you're getting the best possible interest on your savings. 

Who can get Chase's 5.1% savings

You can get the offer if:

• You're an existing customer who had less than £50,000 in total across any Chase savings accounts you held on 2 May 2024 (you can hold up to 10 of these accounts);

  OR

• You join or joined Chase on or after 3 May 2024.

If you meet these criteria, you'll see the option to open the account in the Chase app. Go to the 'Save & Invest' tab and from there, tap 'Add +' and choose 'Saver account with a boosted rate'. You can then follow the on-screen steps to open the account.

As long as you do this before 11.59pm on Wednesday 17 July, you'll get to keep the bonus until 16 January 2025.

You can open the new boosted saver and transfer across any savings held in Chase's standard saver. 

You can save up to £1 million in total across any Chase savings accounts – though, as with any UK-regulated bank, you only get protection on up to £85,000 from the Financial Services Compensation Scheme.

Other easy-access accounts pay a bit more

While Chase is our top pick due to its ease of opening and combination of perks, its savings rate can be beaten:

• Unusually, the joint top-paying easy-access account right now is a cash ISA at 5.2% – with some caveats. Cash ISAs are just savings accounts you never pay tax on, and everyone in the UK aged 18 or over can deposit up to £20,000 in them in this tax year (which ends on 5 April 2025).

  Normally, cash ISAs tend to pay a bit less than standard savings, but right now it's the opposite, with app-only provider Trading 212 paying the top rate of 5.2%. However, it doesn't let you transfer in at the moment – see our Cash ISAs guide for the full details.

• You can get 5.2% with Ulster Bank's linked saver, though it'll do a hard credit check and there aren't any other perks. If you already have or are willing to get a current account with NatWest-owned Ulster Bank, you can get 5.2% through its linked saver.

  However, getting the current account requires a hard credit check – unlike Chase, which only does an ID check on application. There also aren't any perks with the account, whereas Chase is a top-pick for perks, including 1% cashback on most normal spending (maximum £15 a month) and more – see our full review.

More ways to boost your savings

Depending on your situation, you can get even higher rates with other account types. For example:

• If you can afford to lock away your money, you can get up to 5.22% with a three-month fix or up to 5.2% with a one-year fix.

• If you tend to save little and often, you can get up to 8% with a regular saver. To max your returns, you could also drip-feed money from an easy-access saver into one or more of these accounts.

• If you have a Santander Edge current account, you can get 7% on up to £4,000 with its linked saver.

For even more options, see our regularly-updated Top savings accounts guide.