A tool for chip removing machining comprising: - a tool body including a front end and a rear end, between which a central rotation axis extends around which the tool is rotatable in a direction of rotation, and at least one insert seat provided in a transition between the front end and a peripheral surface extending between the front end and the rear end of the tool body, a chip pocket being provided rotationally ahead of the at least one insert seat, - at least one cutting insert securely mounted in the at least one insert seat, comprising: - an upper side and a lower side, wherein the upper side includes a chip surface and wherein a central axis extends between the upper side and the lower side, - a side surface extending between the upper side and the lower side around the periphery of the cutting insert and including at least one clearance surface (205, 206), - a cutting edge formed between the at least one clearance surface (205, 206) and the chip surface and having an active cutting edge portion defined to be located outside of the central axis of the cutting insert, - a fastening member, wherein the cutting insert in its lower side comprises at least one first locking member in the form of a locking groove extending in an area located outside of the central axis of the cutting insert, and wherein a second locking member configured to engage with the first locking member is provided in the insert seat, wherein the second locking member provided in the insert seat is in the form of a locking ridge, characterized in that a top support member is provided rotationally ahead of the at least one insert seat and a through-hole having an orifice in the insert seat is provided rotationally behind the insert seat, the fastening member extending through the through-hole and bearing on a lower contact region provided on the lower side of the cutting insert, whereby the fastening member on one hand presses an upper contact region provided on the upper side of the cutting insert against the top support member of the tool body so that the locking ridge locks with the locking groove and forms a radial support for the cutting insert, and on the other hand presses an axial support region provided in the side surface of the cutting insert against an axial contact surface provided in the insert seat. - a tool body including a front end and a rear end, between which a central rotation axis extends around which the tool is rotatable in a direction of rotation, and at least one insert seat provided in a transition between the front end and a peripheral surface extending between the front end and the rear end of the tool body, a chip pocket being provided rotationally ahead of the at least one insert seat, - at least one cutting insert securely mounted in the at least one insert seat, comprising: - an upper side and a lower side, wherein the upper side includes a chip surface and wherein a central axis extends between the upper side and the lower side, - a side surface extending between the upper side and the lower side around the periphery of the cutting insert and including at least one clearance surface (205, 206), - a cutting edge formed between the at least one clearance surface (205, 206) and the chip surface and having an active cutting edge portion defined to be located outside of the central axis of the cutting insert, - an upper side and a lower side, wherein the upper side includes a chip surface and wherein a central axis extends between the upper side and the lower side, - a side surface extending between the upper side and the lower side around the periphery of the cutting insert and including at least one clearance surface (205, 206), - a cutting edge formed between the at least one clearance surface (205, 206) and the chip surface and having an active cutting edge portion defined to be located outside of the central axis of the cutting insert, - a fastening member,