Latest World Breaking News Online News Portal
Chase Bank savings customers may be able to boost their easy-access savings to earn up to 4.8%. The bank has messaged savers to tell them of a 1.8% fixed six-month bonus, which is in addition to its standard 3% variable rate.
Eligible customers will receive an email from Chase, or they should be able to see the offer on the main page when they open the Chase app on their phone. The message says: “Right now, our standard saver rate is 3% AER (2.96% gross) variable. But as part of our offer, you can open a Chase saver with a boosted rate and get an interest rate of 4.80% AER (4.70% gross) variable on your money for 6 months.”
The message adds: “The 1.80% boost is fixed, so even if our standard saver rate changes between the date you open your account and the end date which is 6 months after, you’ll keep earning 1.80% AER on top.
“After this date, your interest rate will change to whatever our standard variable saver account interest rate is at the time.
New savers who want to open an account with Chase can get up to 4.75% for 6 months.
The bank said: “New customers open a Chase saver with a boosted rate and get an extra 1.75% AER fixed interest for 6 months, on top of our standard saver variable rate.
“If our standard variable saver rate – currently 3% AER (2.96% gross) – stays the same, you could earn 4.75% AER (4.65% gross) until your 6 months is up.”
However MoneySavingExpert (MSE) has pointed out that some easy-access cash ISAs – pay higher rates than the Chase booser.
Its top pick, Trading 212, offers 5.07% and has unlimited withdrawals.
MSE points out the Chase saver might suit someone who has used up their £20,000 ISA allowance for this tax year.
It added the next-best standard easy-access account is from app-only savings and investments provider Sidekick, which pays 4.76% with unlimited withdrawals. MSE said: “This rate includes a year’s fixed bonus, and you’ll need to deposit at least £5,000 to get it.”
