The lender said Chase customers would benefit from a 1.5% return on up to £250,000, but savers must also sign up to its current account.

The rate is 0.55 percentage points higher than the next best easy-access savings rate, which is 0.95% from Aldermore Bank. For a saver with £10,000, this would provide £150 in annual interest, £55 more than the next highest-paying account.

Customers can open multiple saver accounts to suit their savings goals and they can deposit up to £250,000 in total at any time and can access their savings as often as they like, with no fees, charges or loss of interest.

Shaun Port, managing director, savings and investments for Chase in the UK, said: “With the cost of living increasing, we know that consumers want to maximise the interest they can earn with the reassurance of being able to access their savings instantly.

“We have designed the Chase saver account to provide our customers with maximum flexibility alongside a competitive rate. Savers can set up multiple accounts via the Chase app, each with a unique account number, making it easy to organise their savings for specific goals. There are no fees or charges when customers move money out of their saver accounts, no monthly caps on how much can be saved provided total savings are within the £250,000 limit for all saver accounts.”