CAHOOT LAUNCHES BONUS SAVER
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| Article date: 28/09/2005 : 16:17:58 |
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Online bank Cahoot has announced that it is offering a new savings account from September 30th 2005.
The new account will offer a rate of 5.25 per cent gross pa for the first six months, followed by 4.75 per cent for months seven to nine and 4.50 APR thereafter.
The minimum investment in the Bonus Savings Account is £15,000 and the maximum is £100,000, with interest paid annually unless savers opt for monthly interest payments, starting at 5.15 per cent gross pa.
The account is available to both new and existing Cahoot customers online for a limited period and will be allocated on a first-come, first-served basis from September 30th.
The instant access account also offers savers with balances of between £1 and £14,999 an interest rate of 4.25 per cent gross pa, with no penalties or restrictions on withdrawals and no requirement to deposit a minimum regular amount.
John Goddard, Managing Director of Cahoot, commented: "This is one of the most generous rates available. For serious savers with fairly large balances this new rate offers very attractive returns, without locking your money in an account for a minimum period of time."
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