New cahoot savings account to be launched

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New cahoot savings account to be launched

A cahoot savings account will be launched on January 18th, offering easy access and a "leading rate", according to the bank.

The new account, available to both new and existing customers, comes with a 4.75 per cent gross rate per annum (4.85 per cent annual equivalent rate).

Balances up to £250,000 are included in the offer, with no monthly restrictions on deposits and withdrawals.

John Goddard, managing director, said that "what you see is what you get" with the new cahoot savings account.

"It's straightforward, good value and gives a decent return on balances up to a quarter of a million," he added.

The cahoot business is Abbey's standalone interactive bank, offering online, mobile and telephone banking services.

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