cahoot Simple Saver

Enjoy 5.12% AER on up to £500,000 in easy access savings


What you’ll get

  • 5.12% AER*/gross** variable rate interest for 1 year

Things to keep in mind

  • Minimum opening balance £1, maximum £2 million
  • Interest is paid on balances up to £500,000
  • No interest paid on balances over £500,000

Our Simple Saver is an online savings account that gives you the flexibility to save and withdraw your money whenever you like.

Summary box

cahoot Simple Saver (Issue 2)

 Interest rate


Account name/termMaturity dateTierIf interest is paid annuallyIf interest is paid monthly
cahoot Simple Saver (Issue 2)/12 months1 Year/12 months after account opened£1-£500,0005.12% AER*/gross** (variable) for 12 months from account opening on balances up to £500,0005.00% gross** (variable) for 12 months from account opening on balances up to £500,000

Balances over £500,000 - No interest paid.

Interest is calculated daily and can be paid annually or monthly. Once the frequency has been chosen (annual or monthly interest), this can’t be changed.


We'll pay the final interest payment to your account on the date it matures. If any interest payment date is on a Sunday, we'll pay that interest payment to your account on Monday (with the final interest payment available for withdrawal on Tuesday).

AER is based on funds deposited on the day the account is opened. If you deposit funds after the day the account is opened, the interest you receive may be less than the advertised AER.

Yes, the rate can go up or down, such as in response to industry and market conditions. If the rate goes down, we’ll let you know around 60 days before the rate changes.

Estimated balance for cahoot Simple Saver

Account name/termInterest earnedBalance at the end of the term of the account
cahoot Simple Saver (Issue 2)/12 months £51.20£1,051.20



Estimates assume

  • The account is opened, and deposit is made on the day the account is opened with an opening balance of £1,000
  • Interest is paid annually and back into the account

 These illustrations are only an example and don’t take into account individual circumstances.​

To open the account you must:

  • Be a UK resident; and
  • Be aged 16 or over
  • Be registered or will register for Online Banking
  • Provide us with a valid email address. We’ll use this to let you know when we have sent you an e-Document
  • The account can be opened in single or joint names
  • You need to open the account with a minimum opening balance of £1, maximum £2 million.


How to pay into the account

  • When you’ve opened the account, we’ll send you a sort code and account number you can use to pay in.


Manage the account

  • You can manage the account in Online Banking.

Yes, withdrawals can be made at any time by transfer to another account in online banking.

At the end of the term

The term of the account is 12 months. On maturity, we'll transfer your money into a cahoot Savings Account. We'll contact you with more details, together with your new interest rate, closer to your maturity date.


  • You can cancel the account within 14 days of opening and your money will be returned in full with interest.
  • Subject to availability and may be withdrawn without notice. Rates and information correct as at 9 October 2023.

*AER stands for Annual Equivalent Rate and shows what the interest rate would be if we paid interest and added it to your account each year.

**The gross rate is the interest rate we pay where no income tax has been deducted.

Interest is calculated daily and can be paid annually or monthly.

Key Information

We recommend reading the information in the documents below before you apply. You may like to save or print them so you can refer to them in the future.