Chase introduces a bonus rate on its savings account – but do you qualify?

Chase’s easy-access savings account has become a best buy after the addition of its first-ever bonus rate. But with several restrictions, are you eligible – and why you may need to act fast

Signage is displayed at a JPMorgan Chase & Co. bank branch in Chicago, Illinois, U.S
(Image credit: Bloomberg / Contributor)

JPMorgan-owned bank, Chase, has introduced a bonus rate on its savings account, sending it into the best-buys list.

The app-based bank now boasts one of the best savings accounts on the market as it hikes the return on its easy-access saver from 4.1% to 5.1%, thanks to the addition of its first-ever bonus rate.  

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ProviderRate AERMinimum depositWithdrawals
Cahoot5.2%£1Unlimited withdrawals
Ulster Bank 5.2%£5,000Unlimited withdrawals
Chase 5.1%No minimum depositUnlimited withdrawals

Vaishali has a background in personal finance and a passion for helping people manage their finances. As a former staff writer for MoneyWeek, Vaishali covered the latest news, trends and insights on property, savings and ISAs.

She also has bylines for the U.S. personal finance site Kiplinger.com and Ideal Home, GoodTo, inews, The Week and the Leicester Mercury.