Is Cahoot any good?

melbury

Had decided last night to invest funds maturing today in the Close Brothers one year fixed rate bond, only to find that it has been closed:eek:

See that Cahoot are offering 2.5% for a one year fix, but I don't know anything about them.

Does anyone have an opinion as to how good/bad they are?

opinions4u

Santander in disguise.

poolforever

I've had an online account with them for years (about 20yrs) and have had it as a back up current acc with not a lot in it. Never had any problems.

melbury

opinions4u wrote: »

Santander in disguise.

That's interesting, people don't seem to have a lot of good things to say about Santander savings accounts though:(

innovate

melbury wrote: »

That's interesting, people don't seem to have a lot of good things to say about Santander savings accounts though:(

other than that they usually are one of the very top interest rate payers?

They claim they have some 600,000 customers for one of their ISAs (the "Major" one, http://www.santander.co.uk/csgs/ContentServer?appID=abbey.internet.Abbeycom&c=Page&canal=CABBEYCOM&cid=1237917369606&empr=Abbeycom&leng=en_GB&pagename=Abbeycom%2FPage%2FWC_ACOM_TemplateW2). Where are all these people then who don't seem to have a lot of good things to say about Santander savings accounts? Links please. I for one am a very happy customer of the Santander Major ISA, and their esaver (and their 123 current account that pays me more interest than I could possibly get in any instant access savings account right now - - apart from the Santander esaver, lol)

Back to the original question about Cahoot: they had their ups and downs (literally) with their website over the years (before Santander took them over), and I haven't had any money with them for over 2 years now since their savings interest rates couldn't excite me. But I would be perfectly happy to deposit some with them if they offered the best rate, and as long as my total deposits with Santander UK are below £85K (incl. allowance for interest).

badger09

melbury wrote: »

Had decided last night to invest funds maturing today in the Close Brothers one year fixed rate bond, only to find that it has been closed:eek:

See that Cahoot are offering 2.5% for a one year fix, but I don't know anything about them.

Does anyone have an opinion as to how good/bad they are?

I opened their 1Year Fixed Rate @ 3.6% in October when it was top of the league. Easy opening, they kept me up dated, so no problems at all. Website is a bit clunky, buy as its Fixed Rate, I'm not that bothered

[Deleted User]

One could say they are in "Cahoots" with Santander.

Tee hee hee.

Onawingandaprayer

Had various accounts over the years. Never had a problem. Reasonable rates too, if you pick and choose.

marathon_man_3

melbury wrote: »

See that Cahoot are offering 2.5% for a one year fix, but I don't know anything about them.

Punjab pay 3% for a year instead:
http://www.pnbint.com/fixed-deposits.asp

oftm

marathon_man wrote: »

Punjab pay 3% for a year instead:

1st Year 3.00 %
2nd Year 4.20 %
3rd Year 4.70 %
4th Year 5.30 %
5th Year 5.80 %

What's the catch as that looks really good?

marathon_man_3

^^
That is a "step-up" bond for 5 years. It shows the interest applicable to each year but, without looking at the small print, it may be that you can't get at the money until the end of the 5th year. That would be the only catch if there was that restriction.

I may be wrong, though, as I have a similar 5-year step-up bond with the State Bank of India and, with that one, I can access the dosh on the 2nd, 3rd or 4th anniversary if I wanted.
I have a one-yr fixed term deposit with Punjab, recently taken out via the post. I have found them to be OK to deal with so am happy to recommend them.