Chase Saver With Boosted Rate

ToastLady

https://forums.moneysavingexpert.com/discussion/comment/82005817#Comment_82005817

Yes I like Chase too, but my rate has been 2.25% for a good while now, so not using their savings at all. Won't help you as NLA, but using Zopa at 4.45% and have 5 months left at the boosted rate with them, their current rate is 2.95%.

If it's Instant Access you want, you could have a look at the current offering from Spring at 4.3% https://www.spring-savings.co.uk/save/special-edition-easy-saver
Just opened this when it became available yesterday. It's very basic and I found it a bit clunky and slow, but to be fair, have had no problems depositing through linked account, and tried one withdrawal, which was instant to linked account.
Min deposit £10, max £20000 and £10 has to be left in account or it can be closed.

There's also Santander Edge Saver at 6% for max of £4000, no interest paid for amounts greater than £4000, but you do need a qualifying Santander current account.

Cahoot Sunny Day at 5% on up to £3000, no interest above that. Also Cahoot Simple Saver at 4.17%

Have a look on https://moneyfactscompare.co.uk/ but as far as I am aware, they don't specify which accounts are instant.

poolboy

Thanks I missed the zopa boost but have the others. Plus tembo. Cheers

SVts

My Chase account boosted rate expires in a couple of weeks so obviously looking to move on.

I have approx 100k and prefer instant access and monthly interest so it seems that there are two interest rate market leaders at present;

Revolut 5.00%

Tembo 4.55%

Never heard of either of them tbh but a quick google search suggests Tembo have the better reputation of the two.

Any advice please?

Thanks

poseidon1

https://forums.moneysavingexpert.com/discussion/comment/82030107#Comment_82030107

Do a bit more due diligence and you will establish that Revolut is now an accredited UK bank and Tembo is not.

With Tembo, they place money you save with them with a selection of other banking partners, so it is those third party banks ultimately responsible for the safety and FSCS security of your money if Tembo went belly up. If Revolut goes bust, FSCS automatically steps in to safeguard your savings up to £120k with them.

The distinction between the two may not mean much to you overall, but worth pointing out if you are harbouring the misconception that Tembo is a bank.

EDIT

Although its not something any saver seems to do when looking to save with an unfamiliar institution, but worth looking at their published accounts.

Revolut as a private bank has an estimated value of around £55 Billion and a £1.75 billion profit for their last financial year. Tembo Savings Ltd by contrast, only around £1.2 million balance sheet value after posting a £2.6 million trading loss in their last 2024 filings (2025 still not available). Clearly not a like for like comparison between these two concerns.

ToastLady

Have had no problem with either Tembo (so far) or Revolut. Been with Revolut for years, mainly for using card abroad, and can't get the new offer. Tembo uses Lloyd's for your money and you can only deposit £20000.
Have a good look at the T's and C's and also check out a thread discussing (Tembo has since reduced rate to 4.55%).

https://forums.moneysavingexpert.com/discussion/6666500/tembo-homesaver-account-5-75-advice-thoughts

Hoping that with all this money flooding out of Chase, they will give older customers a bit of a boost, but unlikely for a while since they've still got offer available for new customers.

adindaspantai

https://forums.moneysavingexpert.com/discussion/comment/82030107#Comment_82030107

Is this Revolut 5% an instant access. such as like the one we get with chase. With Chase, they even do it instantly during the weekend, bank holiday.

SVts

https://forums.moneysavingexpert.com/discussion/comment/82030271#Comment_82030271

Revolut looks messy as I think they charge a £55 monthly fee and the 5% rate only lasts 6 months.Max investment 25K.

Tembo is limited at 20K.

At this point I'll probably move to Ulster Bank Limited Edition Saver Account - Issue 3 @ 4.30%.

However I will hold for now as my Chase bonus does not end until 23.06.26 so I will wait for the Bank of England interest rate decision 18.06.2026 and hope that new products become available.

poolboy

Ulster have a 200gbp switch bonus if you have a donor account.

They were good, instant transfers like chase. My chase boost has a while to go.

adindaspantai

https://forums.moneysavingexpert.com/discussion/comment/82031989#Comment_82031989

Just be aware their record is now good. Natwest Group has a better record now. They could detect whether you have got switching bonus previously. If you have got incentive from one of their groups previously, the switch will go on and close your donor account but the bonus will never arrive.

poolboy

Yes thanks, I went to Ulster for their savings account but didn't qualify for the switch for the reason you mention. Ditto first direct, but my motivation is the 7% rs. It is indeed getting harder.