Info for Cahoot 5.65% intro savings a/c holders

klondyke

I think we have all had a message to say that the rate was not dropping for the time being, but that was before the BoE rate cut - so it is reasonable to assume we will not get 5.65 for much longer, even though cahoot have not yet said so. I'm not moving mine until they tell us different.

Macce

I already knew that. I was saying the majority of people are on 5.1% whilst a small proporation are still on 5.65% (for the new customers who applied when the introductory fixed rate was avaliable, like me).

In september they could drop to a single rate for ALL customers as thats when the 1year introductory rate officially end.

alared

Wherever you`ve got money,the best thing is to wait and see what happens.
Most providers will make their move by 1st Sept.
Once the dusts settles then you can decide.
The BoE said yesterday that anymore cuts are "unlikely".

Walshy

Although its very nice of cahoot to extend the 5.65%, I think the only reason they have done this is because their systems couldn't cope with some customers on a lower rate and some still on 5.65% (those that applied near the Sept 04 cut-off). It is a lot easier for them to move everyone onto a lower rate in one sweep, i.e Sept 2nd.

Be prepared for a double whammy on Sept 2nd. I can see a drop to 5.1% (to match their other savings account) as the fixed offer ends, plus a further drop to 4.85% because of the BoE base rate cut.

[Deleted User]

SSssshhhh! Don't be putting ideas in their head. Keep a low profile and enjoy it while it lasts.

Macce

Stuff as much money into your accounts so Cahoot keeps the rate up for us ! Worth a try ?

[Deleted User]

Cahoot ordinary savings rate being reduced from 5.10% to 4.85% from 23/8, according to This is Money today.

deemy2004

Its highly likely it will also apply to the 5.65% accounts also i.e. to 4.85%, though nothing confirmed yet.

[Deleted User]

Content of email received from cahoot this evening...

Thank you for contacting cahoot.
In response to your email I can confirm that all cahoot customers will be advised of any changes to the current interest rates by email and secure message between Wednesday 17th August and Saturday 27th August 2005.

Skint_Catt

Hmmmm, looks like they will drop it!

S_C