Another Competitive Account Bites The Dust ....

ffacoffipawb

The 4.85% cahoot savings account will fall to 4.55% AER on 28 April 2006.

Just notified by e-mail, tried to post it here but the formatting was so bad as to render it unreadable.

EDIT: Just as well I have the 5.00% version, recently reduced from 5.30%!!

Stompa

I wonder what happens to the Bonus Savings account?

Stompa

mary

I enquired last week and it's currently 5.25% for the first six months and then down to 4.75%

Gambler

ffacoffipawb wrote:

The 4.85% cahoot savings account will fall to 4.55% AER on 28 April 2006.

Just notified by e-mail, tried to post it here but the formatting was so bad as to render it unreadable.

EDIT: Just as well I have the 5.00% version, recently reduced from 5.30%!!

Just hyad the same email but not heard about the 5.3% being reduced?

Mr_Mumble

Oh great, guess which mug applied for this account today. :mad:

I'll just keep a quid in until I get my £20 through top cashback for signing up and then tell 'em where they can put their cahoot.

Stompa

mary wrote:

I enquired last week and it's currently 5.25% for the first six months and then down to 4.75%

Yes, I know. My 6 months expired today so I transferred to a standard Cahoot savings account to get 4.85% rather than 4.75%. I wonder if the 5.25%/4.75% will also be dropping by a similar amount - in which case I'll be better off transferring back again!

Stompa

tomstickland

Oh well, I just applied for one of their accounts. Don't have to use it, Icici is still my main account.

smudgie2

Have made exactly the same moves Stompa and moved from the Bonus Saver in last few weeks when the six months at 5.25% and then three months at 4.75% ended. I am tempted to shift the whole lot to First Direct at 5% as I dont need instant access and treat their account like a fixed rate bond or if I act quickly could catch the 1 year bond with Coventry Building Society at 5.10%. Just holding my breath on my original account with Cahoot which started at 5.65% on the first £49.999 dropped to 5.3% and is now down to 5% !

Deemy

Don't worry folks !

Its temporary, very temporary

Interest rates are headed higher, just be patient, give it a few months, probably come September the talk will be of how high will rates go !

So keep cool, don't batter any counter staff

Kazza242

ffacoffipawb wrote:

The 4.85% cahoot savings account will fall to 4.55% AER on 28 April 2006.

EDIT:Just as well I have the 5.00% version, recently reduced from 5.30%!!

Unfortunately, the rate on the Cahoot introductory savings accounts will also be reduced, as below:

*The introductory savings account interest rate from 28 April 2006 will be:
Account balance GBP Gross p.a. /AER
Up to 50,000 4.55%
50,000 to 250,000 4.05%
250,000 + 4.00%

The introductory savings account interest rate as at 22 March 2006 were:
Account balance GBP Gross p.a. /AER
Up to 50,000 5.00%
50,000 to 250,000 4.50%
250,000 + 4.00%" "[/I]

I received an e-mail from Cahoot informing me of the rate change to my intro savings account. I posted the e-mail on another thead: http://forums.moneysavingexpert.com/showthread.html?t=182329

Gambler

I think it could be time to pay off some of the mortgage !