Chip v Tandem

Financial Chat Fintech Chat
1

I was wondering if anyone here could help my poor brain figure something out.

Chip Savings offers 0.70% interest paid daily.
Tandem savings offers 0.77% interest paid monthly.

Is it still worth moving all my money to Tandem and losing the daily interest from Chip? I’m thinking the daily compounding of interest at Chip may be better monthly?

2

Compare the AER.

That will show you true comparison.

2 Likes
3

Those are both AERs so you can ignore compounding and frequency of interest payments.

1 Like