Cahoot raises interest rates on savings accounts

Following the increase in the Bank of England Base Rate from 5.50 per cent to 5.75 per cent, cahoot is increasing rates by up to 0.50 per cent on top tiers of accounts.

cahoot savings account is instant access, offers annual or monthly interest and offers no penalties for withdrawal.

Reza Attar-Zadeh, Head of Savings, said “When interest rates went up in May, cahoot increased its savings account to a market-leading rate for customers with large balances. At 6.35% for balances of £500,000 and 6.25% for balances of £250,000 these rates remain the best in the market. We are also increasing rates above the base rate rise for existing customers with large balances in previous bonus accounts.”