Chase has launched its first Regular Saver account, offering a fixed interest rate of 6.5% for 12 months. The account allows customers to save up to £300 per month, with no penalties for withdrawals.
How the account works
Savers depositing the maximum £300 monthly could accumulate £3,725 after 12 months, including £125 in interest. The rate remains fixed for the full year before the savings are transferred to another Chase account.
The account features automatic monthly payments set up through the Chase app. Interest is calculated daily and paid monthly, allowing savers to track their returns throughout the term.
Eligibility and wider offering
The Regular Saver is available to UK residents aged 18 and over who hold a Chase current account. It sits alongside Chase's existing products, including current accounts and 5% interest on round-up savings.
Chase also offers 2% cashback on transport, groceries, restaurants and fuel spending. Shaun Port, managing director for daily banking and savings at Chase, said: "Our Regular Saver is designed to help customers do exactly that, combining a competitive fixed rate with a simple way to build towards their financial goals."
