Cahoot launches another one year fixed rate bond

Online bank Cahoot has today unveiled a second market-leading, one year fixed bond, offering savers a return of 3.65 per cent AER.

Like its predecessor, issue 2 of the bond can be opened with a minimum of £25,000 up to a maximum of £2 million.

No additional deposits, partial withdrawals or closures are allowed during the product's fixed term, the bank said.

Savers can access and manage their account online and over the phone.

On maturity, the bond will converts into a new instant access savings account with a variable rate of interest.

Michelle Kent, head of the bank – which is part of the Santander banking group – said: “Cahoot is pleased to offer our latest fixed rate bond which offers an excellent rate to savers looking for a fixed income.

“As always, bonds are a limited offer, so customers wishing to take advantage should act now to secure these rates.”