cahoot launches best buy fixed rate bond

cahoot has launched a new best buy two year fixed rate bond paying a highly competitive 4.01 per cent gross/AER.

Customers can save between £30,000 up to £2m and should be happy to leave their money untouched for the term in order to receive this great rate. This is a strictly limited offer and will be subject to availability.

With interest rates at 0.50 per cent and the average instant access savings at 0.63 per cent cahoot offers exceptional value, security and a fixed rate to boot.

Matthew Timms, Managing Director of cahoot, said "The new cahoot bond offers savers the chance to secure their money with a great fixed rate of interest which is currently 3.51 per cent over the Bank of England Base Rate. This is a highly competitive bond in the current market that complements cahoot's existing range of competitive products, and with the financial backing of one of the world's largest banks it gives savers peace of mind and security for their money"

The cahoot bond is available online for all new and existing customers who are transferring or paying in funds not currently held within the Santander Group (cahoot, Abbey, Alliance & Leicester, Bradford & Bingley)

Andrew Hagger Head of PR at moneynet.co.uk comments, "Competition in the fixed rate savings market is fierce which can only be good news for savers. If you're looking to tie your money up for longer than 12 months with the backing of one of the biggest names in banking, this bond from cahoot is likely to prove a popular component in many savings portfolios."

Michelle Slade Press & PR Officer at the Moneyfacts group adds, "In a time when base rate is at an all time low it is becoming increasingly difficult for savers to make the most of their money. The combination of a highly attractive rate being offered by a well known brand will make this an extremely competitive deal."