Cahoot savings rates — compare every account, plus switch offers and guides

Who they are

Cahoot was launched in June 2000 as the internet-based banking brand of Abbey National. Following Banco Santander's acquisition of Abbey National in 2004, Cahoot was integrated into Santander UK plc, where it continues to operate as a distinct trading name focused primarily on savings. Cahoot operates as a division of Santander UK, and shares Santander's banking licence and headquarters. That last point matters for savers: any money you hold with Cahoot and with Santander itself sits under the same FSCS licence, so keep that in mind if you bank with both.

The experience is deliberately lean. Cahoot is online and telephone only, with no branches and a small operational team behind the scenes. Some savers find the account-opening process slower than newer digital banks - expect letters in the post and a slightly more traditional setup compared to app-first names.

Savings accounts

Cahoot currently offers a small, focused range of savings products. All accounts listed here are FSCS-protected up to £120,000.

The Sunny Day Saver is the headline pick - an easy access account with a variable rate and instant access from a £1 minimum. The Simple Saver is another easy access option with instant access from £1, carrying a variable rate that includes a bonus element for the first 12 months on top of a lower base rate - worth noting in your diary so you can reassess when the boost period ends.

There is also a basic Savings Account available for easy access, though its rate is considerably lower than the two options above, so it is unlikely to be your first choice.

For those happy to lock money away, Cahoot offers Fixed Rate Bonds at both 12-month and 24-month terms. Both require a £500 minimum and offer no access until maturity, so only commit funds you genuinely will not need.

Rates on variable accounts can move at any time, and fixed rates are only guaranteed for the term you choose. The live figures on this page are always up to date.

Is it right for you?

Cahoot suits savers who want the reassurance of a well-established, Santander-backed provider without needing a branch or a slick app. The FSCS limit of £120,000 is worth flagging - higher than the standard £85,000 protection at many providers. The trade-off is a more old-fashioned account management experience.

One thing to watch: Cahoot shares Santander's banking licence, so if you already save with Santander, your combined balances across both brands count toward a single FSCS limit. Spread larger sums accordingly.

If the rates are competitive for what you need - particularly the Sunny Day Saver or Simple Saver - Cahoot can be a straightforward, dependable home for your money. Just check the live rates shown on this page before you decide, as they change regularly.