Cahoot launches new Bonus Savings Account

29 September 2005
Online bank cahoot is offering a new savings account with added bonuses for those with a higher balance.

The cahoot Bonus Savings Account will reward those with a balance of over £15,000 with 5.25 per cent gross interest for the first six months.

Head of savings at financial website,, Rachel Thrussell, said: "It will be interesting to see how long this market-leading rate is available, as demand for an instant access product that comes without some of the usual inhibitive restrictions or penalties is likely to be very high."

"Although savers will have seen their rates tumble in recent weeks, many have probably done nothing about it, but this may be the kick they need to move to a better deal."

Cahoot is one of a growing number of online banks which offer competitive rates to customers who are prepared to bank online.

According to a survey by research company Forrester Research earlier this month shows that most banking customers are aware of security threats but expect their banks to deal with.

Meanwhile, the survey showed that 600,000 internet banking customers in the UK have given up their online accounts because of security fears.

The new cahoot Bonus Savings Account will be available from 30th September.

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