Cahoot, the UK-based online bank, has today announced increased rates on its Fixed Rate Bond range, including ‘top of market’ rates on two year and three year Fixed Rate Bonds..
Fixed Rate Bonds are available immediately:
• 1 Year Fixed Rate Bond: 4.30% AER/Gross from 3.70% AER/Gross
• 2 Year Fixed Rate Bond: 4.70% AER/Gross from 4.10% AER/Gross
• 3 Year Fixed Rate Bond: 4.80% AER/Gross from 4.20% AER/Gross
Cahoot savers locking away £10,000 in a 3 Year Fixed Rate Bond product will see annual returns of £480. Savers can check what returns they can get by using the Bank of England savings calculator.
A Fixed Rate Bond can be opened with only a £500 deposit and with a maximum balance of up to £2 million. All accounts are protected by the Financial Services Compensation Scheme (FSCS)(1) up to £85,000, to provide customers with peace of mind.
Cahoot has delivered online banking for UK customers for over 22 years since 2000. It currently has over 60,000 customers providing financial services including personal loans, savings, and current account services.
Find out more about cahoot savings accounts and financial services by visiting: www.cahoot.co.uk
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Notes to editors
1. The Financial Services Compensation Scheme (FSCS) is a body, funded by the financial services industry, providing automatic protection if your bank, building society or credit union goes out of business. The FSCS covers financial services firms that have been authorised by the Financial Conduct Authority (FCA) or the Prudential Regulation Authority (PRA) to do business in the UK. Santander UK plc is authorised to take deposits under this name as well as the cahoot and Santander Corporate Bank trading names. More information can be found here.