The New Top Easy Access Savings Discussion Area

tg99

janusdesign said:

tg99 said:

Does Cahoot tend to reduce rates for all the simple saver issues (ie current issue and NLA issues) after a BOE cut and by the same amount? I have two simple savers left after upgrading some to Sunny Day, one paying 4.55% opened recently and a previous issue 4.41% opened in May. Hence I’m thinking makes sense to upgrade the 4.41% account to a Sunny Day since I’ll never use it when I have another higher rate version….unless Cahoot was to cut the 4.55% one to below the 4.41% issue which I assume is v unlikely? Thks 

I have the same two simple savers - for me, i've leaving the unused 4.41% Issue 9 alone until Cahoot announce any rate changes or Issue 10 goes NLA. They have in the past, dropped the rate on the current issue (though we get 2 months notice) and left older issues alone for a while... so if Issue 10 was to drop from 4.55% to 4.30% and Issue 9 left at 4.41%, it would be an attractive rate.

worth noting that some issues of Simple Savers have been issued at 3% - and i'm only thinking as far back as April this year.

https://www.cahoot.com/products-and-services/previous-rates-and-fees

it's a gamble either way - they might make Issue 10 NLA but leave the rate alone; SDS 5 might go NLA at any time or rates on either could change.

Great that’s really helpful, thanks. I think I’ll probably wait too and see how Cahoot reacts to the recent BOE rate cut.

masca

Does anyone know if there's any way to satisfy the Cahoot ID/change details form request electronically? I don't have access to a printer (and a stamp isn't very MSE! ☺️). I've sent a message asking Cahoot, but I'm still awaiting an answer. TIA.

The_Groat_Counter

Re the Cahoot Sunny Day Saver (SDS) accounts...

I have an SDS issue 3 account opened in January, but I'm actually not sure what the current interest rate is - on my online banking it currently shows as 0% but I think that's because I had exactly £3000 in the account (interest is stated as being payable from "£1 - £3,000" but nothing for "£3000+", however what's not clear is what happens for a balance of exactly £3000).

I've transferred a penny out today so now the balance is £2999.99, however the interest rate in online banking still shows as 0% - perhaps that will update overnight...

On cahoot's Previous rates and fees page, under the heading Previous rate effective until 2 March 2025, the SDS issue 3 is shown as having an interest rate of 4.75% AER / 4.65% gross - this matches the interest rate shown on my account summary document dated 5 April. I don't have any statements or summaries more recent than that.

My guess is that the 2 March date is when the SDS issue 3 account became NLA, but in my reading of things I'm struggling to find clarity on what the current interest rate for this account actually is.

allegro120

The_Groat_Counter said:

Re the Cahoot Sunny Day Saver (SDS) accounts...

I have an SDS issue 3 account opened in January, but I'm actually not sure what the current interest rate is - on my online banking it currently shows as 0% but I think that's because I had exactly £3000 in the account (interest is stated as being payable from "£1 - £3,000" but nothing for "£3000+", however what's not clear is what happens for a balance of exactly £3000).

I've transferred a penny out today so now the balance is £2999.99, however the interest rate in online banking still shows as 0% - perhaps that will update overnight...

On cahoot's Previous rates and fees page, under the heading Previous rate effective until 2 March 2025, the SDS issue 3 is shown as having an interest rate of 4.75% AER / 4.65% gross - this matches the interest rate shown on my account summary document dated 5 April. I don't have any statements or summaries more recent than that.

My guess is that the 2 March date is when the SDS issue 3 account became NLA, but in my reading of things I'm struggling to find clarity on what the current interest rate for this account actually is.

Current interest for issue 3 is 4.75% and it should show 4.75% or 4.65% (if paid monthly) on £3000 balance. It must be a glitch if it shows 0%.

Bridlington1

@soulsaver

West Brom BS Four Access Saver Issue 3  to reduce from 4.55% to 4.4% from 15/9/25

ChewyyBacca

Bridlington1
Any rate revision for West Brom BS Four Access Saver Issue 1? It still shows online as 4.65%

schiff

Had there been I'm sure our ace reporter would have said 

Bridlington1

ChewyyBacca said:

Bridlington1
Any rate revision for West Brom BS Four Access Saver Issue 1? It still shows online as 4.65%

Not that I'm aware of, their BOE base rate page still says rates are under review. The page for West Brom BS Four Access Saver Issue 3 was only updated today though so it could be that they'll publish other changes shortly or haven't yet decided about the rest.

If I come to know of further info I shall post an update as ever though.

Bridlington1

@soulsaver

Cynergy Online EA (Issue 90) 4.45% £1min. NLA, replaced by Issue 91 with a sharp drop to 4%.

Bridlington1

Apologies, forgot to mention this in this thread earlier but:

Skipton BS Interest Rate Reductions 1/9/25:

Bonus Saver Issue 12 (NLA) from 4.5% to 4.25% (includes bonus)
FA Bonus Saver (NLA) from 4.2% to 3.95% (includes bonus)
Member Bonus Saver Issue 1 (NLA) from 4.5% to 4.2% (includes bonus)
Member Bonus Saver Issue 2 (NLA) from 5% to 4.75% (includes bonus)