Savers looking to deposit their cash into cahoot’s latest one year fixed bond only have a week left to do so.
The online bank said the bond, which pays 3.6 per cent AER, is selling fast and due to close on Monday 23 July, unless it is fully subscribed before then.
When the bond matures on September 2, 2013, it will convert into a new savings account which will be instant access with a variable rate.
Michelle Kent, head of Cahoot, said: “The savings market for one year bonds is really quite competitive at the moment.
“But our bond won’t be around forever so savers should apply fast before this offer closes.”
The minimum investment required to open the online only account is £25,000 and the maximum that can be deposited is £2 million. Withdrawals are not permitted.
Cahoot is part of the Santander banking group.