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Chip Instant Access Account - 4.84% AER interest.
Chip Instant Access Account - 4.84% AER interest.

The Chip Instant Access Account offers 4.84% AER (Variable), paid on the entire balance up to £250,000

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Written by Ryan
Updated this week

With near-instant deposits and withdrawals, our Chip Instant Access account is completely free to open and pays 4.84% AER (variable).

Please note the funds you deposit are protected up to £85,000 by the Financial Services Compensation Scheme (FSCS).

With the Chip Instant Access Account, we've built a savings account that aims to always bring you a highly competitive rate on savings that moves with the market.


To open a Chip Instant Access Account, you just need to be over 18, a UK resident and need to pay tax solely in the UK. Opening an account only takes a few minutes and you can deposit anything from as little as £1, or as much as £250,000. As with all of our Chip products, you won't be able to open this account if you're a resident of the Channel Islands, Isle of Man or the US.


For the Chip Instant Access Account, we will be offering a rate of 4.84% AER. This account offers compounding interest that accrues daily and is paid monthly on the fourth working day of the month.

Deposits and Withdrawals

You can make instant deposits into the account via the bank account you have linked to Chip. You can also deposit by debit card or Apple/Google Pay but it's worth keeping in mind that these deposits will take longer (up to three working days).

When it comes to depositing from another Chip savings product into the Chip Instant Access Account, you can deposit from the Easy Access Account. This will arrive the next working day. As for withdrawals, these are near-instant!

Protections and Security

This is a savings account available through Chip facilitated by our partner bank, ClearBank. So although ClearBank is responsible for the provision of the account and holding your funds, the account is offered and managed by Chip.

Your deposits and interest earned is protected up to £85,000 by the Financial Services Compensation Scheme (FSCS). Please note that the £85,000 FSCS-protected amount is shared across the Chip Cash ISA, Chip Instant Access Account, Prize Savings Account and any other account you hold with ClearBank.

The Financial Services Compensation Scheme (FSCS) is the UK's deposit guarantee scheme. It pays compensation to consumers in the unlikely event a financial services firm (covered by the scheme) they save or invest with stops trading. For more information on the FSCS please visit

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