Bank account: Great news for savers as 1.25 percent interest rate offered

With many savings accounts offering particularly low returns, it may prove a challenge to find a suitable option.

However, there are still choices left on the table which could help savers who are hungry for a good deal.

One is offered by Chip, a smartphone banking app, which is continuing to offer a competitive interest rate of 1.25 percent.

The provider explains: “Chip+1 is our new account paying the market’s best return 1.25 percent on savings up to £10,000 - fees apply - or £2,000 - free plan.”

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