Info for Cahoot 5.65% intro savings a/c holders

Macce

This sounds too good to be true. My account matures beginning of August.

olivetti

I got this reply when I asked a similar question.



Thank you for contacting cahoot.

The Introductory Savings Account will continue to pay 5.65% AER gross at the present time. This rate is variable and so therefore subject to change. We are not aware of any pending changes at present.

If you require any further assistance please do not hesitate to contact us again.

Kind regards,

mary

Great news. My anniversary is July 22nd and I was struggling to know which was the best place to shift £49,999.99. I had some spare in A&L, but that has since moved to Ing, as a stop gap measure, whilst being shepherded into various regular savings accounts. Many of these accounts are fixed for a one year term, then move into a poorer paying account. I seem to have them staggered during the year, so that Halifax matures in March, Principality in May, Derbyshire 2 accounts in June and Abbey in October. So there's always old money coming back into play. So, so long as Cahoot stays at 5.65%, it will stay put.

deemy2004

I doubt if it will stay put beyond September this yearm so maybe a couple of months.

We will be lucky if the rate come September is 5.1%, as any rate cut will immediatly be reflected in a drop in the savings rate to around 4.85%.

Macce

Nooooooo !

Kazza242

I've just received this e-mail from Cahoot:

As the interest rate guarantee* on your introductory savings account is shortly coming to an end, you may be wondering, will the interest rate or my annual interest change?

We are pleased to confirm that the current variable savings rate of 5.65% gross p. a./AER** and annual interest will continue unchanged, which means you can continue to save at this very competitive rate.

We will of course continue to monitor the savings market to ensure your rate remains competitive, and if the Bank of England decides to change the base rate, we will email you to let you know of any changes that affects your account.

Remember you can deposit additional funds into your account at any time. Funds can be transferred by Direct Debit, Standing Order or as a one off bill payment.

So why not take advantage of this great rate and make your money work harder!

Regards

Cahoot Contact Centre Manager

So annual interest will continue and as we know from the other thread, the interest rate of 5.65% will remain for the time being. In a market of falling interest rates, I thank Cahoot for choosing to be different from the rest. Even if the 5.65% rate falls after September, well done to Cahoot for giving us such a high rate in the first place. :T

buffers

Kazza242 wrote:

I've just received this e-mail from Cahoot:



So annual interest will continue and as we know from the other thread, the interest rate of 5.65% will remain for the time being. In a market of falling interest rates, I thank Cahoot for choosing to be different from the rest. Even if the 5.65% rate falls after September, well done to Cahoot for giving us such a high rate in the first place. :T

And so say all of us (who have Cahoot accounts!) :j

mary

Long may it continue. Got my email from them today too. Just as well as I was struggling to find anything coming anywhere near their 5.65%

deemy2004

How can they afford to pay 5.65%....

When money market rates are 4.7% ?

Lets hope they don't do a runner ! :eek:

klondyke

deemy2004 wrote:

How can they afford to pay 5.65%....

When money market rates are 4.7% ?

Lets hope they don't do a runner ! :eek:

I don't think there are that many of us. It was a limited offer and was pulled fairly soon after Martin's timely tip. Lucky us!