Cahoot is to launch a new savings account offering an interest rate of 5.25% for the first 6 months, followed by 4.75% for months 7 to 9 and then continuing at 4.5% – the bad news is you’re going to have to have deep pockets, as the Bonus Savings Account only available for those with between £15,000 and £100,000 to deposit.
There are no penalties for making withdrawals, so it may prove to be a good place to invest a lump-sum for the short-term.