Cahoot launches 4.01% fixed-rate bond
by David Masters
Internet-bank Cahoot has launched a new two year fixed-rate bond paying interest at 4.01% gross/AER.
Customers must deposit at least £30,000 into the bond, whilst the maximum investment is £2 million.
The rate almost matches ICICI’s market leading offer of 4.18% interest, and is significantly higher than the average instant access savings rate of 0.63%.
Matthew Timms, managing director of Santander-owned Cahoot, said: “The new Cahoot bond offers savers the chance to secure their money with a fixed rate of interest which is currently 3.51 per cent over the Bank of England Base Rate.
“The financial backing of one of the world’s largest banks gives savers peace of mind and security for their money.”
Savers with less than £30,000 can consider ICICI’s HiSave fixed-rate account, paying 4.1% interest with a minimum investment of £1,000.
For amounts under £1,000, Nationwide offers 3.09% over two years on a minimum investment of £1.
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Story link: Cahoot launches 4.01% fixed-rate bond
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Tags: Abbey, bond, Cahoot, fixed-rate, new product, Santander, savings
Has anyone managed to open a Cahoot 2 year fixed rate bond. My wife and I are existing investors but have not received promised emails or posted application forms - and why are new “money laundering checks” needed to open one of these accounts but not another online savings account?
Is this offer genuine?
Comment by Alan Cornish — March 27, 2009 @ 7:16 pm