Savings rates
Rates reviewed daily · last updated 23 September 2026
Savings rates
All rates AER · Updated October 2026
Rates shown are AER and correct as of October 2026.
Easy Access
| Account | AER | Access | Interest | Min Balance | |
|---|---|---|---|---|---|
| Sunny Day Saver | 5.00% | Instant | Variable | £1 | |
| Simple Saver | 4.35% | Instant | Variable | £1 |
Fixed Rate
| Account | AER | Term | Interest paid | Min Balance | |
|---|---|---|---|---|---|
| 1 Year Fixed Rate Bond | 4.20% | 12 Months | Monthly/Annually | £500 | |
| 2 Year Fixed Rate Bond | 4.20% | 24 Months | Monthly/Annually | £500 |
Is Cahoot FSCS protected?
Yes — FSCS protected up to £120,000
Yes. Cahoot savings are FSCS protected up to £120,000 per person, per banking licence, under Santander UK plc. The same limit is shared with Santander.
Banking licence: Santander UK plc
Shares this limit with Santander.
Last checked against the FCA register on 6 October 2026.
See every brand that shares a banking licenceSwitch offers
Who they are
Cahoot is an internet-only division of Santander UK plc, launched in June 2000 as the internet banking brand of Abbey National. When Banco Santander acquired Abbey National in November 2004, Cahoot was integrated into Santander UK plc, where it continues to operate as a distinct trading name focused primarily on savings. Abbey National was renamed under the Santander brand in January 2010, although Cahoot was retained as a specialist brand. Today its product range has narrowed to savings accounts - there are no current accounts, mortgages or loans for new customers.
One thing worth knowing upfront: because Cahoot shares Santander UK's banking licence, any money you hold across both Cahoot and Santander counts toward a single FSCS limit. If you already have savings with Santander, factor that in before opening a Cahoot account.
Savings accounts
Cahoot offers two easy-access accounts and two fixed-rate bonds. All four can be opened from as little as £1 (easy access) or £500 (fixed bonds), and all carry FSCS protection up to £120,000.
The Sunny Day Saver pays 5.00% AER variable on instant-access balances, though the DepositScout data notes it reverts after 12 months - worth setting a diary reminder for. The Simple Saver offers 4.35% AER variable with instant access and accepts balances up to £500,000, making it one of the higher-capped easy-access options on the market.
For those happy to lock money away, the 1 Year and 2 Year Fixed Rate Bonds both pay 4.20% AER with no access until maturity. You need at least £500 to open either.
Is it right for you?
Cahoot suits savers who want a straightforward online account backed by a big-name banking group, without needing to switch their current account or meet any monthly funding requirements. The Simple Saver's large deposit ceiling is a genuine plus if you have a substantial pot to park.
The trade-off is the experience. Customer support runs primarily through freephone telephone lines and secure messaging within the online portal , and user feedback suggests the account-opening process can be slower and more paper-based than fully digital rivals. If a slick app is important to you, Cahoot may feel dated.
Rates are variable on the easy-access accounts and will move over time, so it pays to keep an eye on the live figures shown on this page before you decide.
This overview was generated by DepositScout's AI, Penny on 2 October 2026. It may contain inaccuracies — always confirm rates and terms with Cahoot directly. Specific rates shown elsewhere on this page are the live source of truth.
