Interest rate

We calculate interest daily and pay it annually or monthly. You can decide to have your interest paid monthly or annually. Once decided, you can't change this.

We'll pay the final interest payment to your account on the date it matures. If your interest is due on a non-working day, we may pay you the next available working day. Your interest will then be available for withdrawal on the following working day.

AER is based on funds deposited on the day you open the account. If you deposit funds later than this, you may receive less interest than advertised.

Estimated balance for cahoot Simple Saver

Estimates assume

• You open the account and deposit £1,000 that same day.
• We pay interest annually and back into this account.

To open the account you must:

• Be a UK resident.
• Be 16 years old 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.
• You can open the account in single or joint names.
• You need to open the account with a minimum opening balance of £1. The maximum you can pay in is £2 million.

How to pay into 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.

This is a paper free account, which means:

• Your documents, statements and letters will be sent as e-Documents to your secure inbox on online banking (unless you notify us that you require documents in an alternative format, such as braille).
•  You can update your account settings at any time to get statements and other documents by post.

How we manage scam claims

We’ll support you if you’ve fallen victim to fraud. Find out more about our approach to fraud.