+£15
Sunny Day Saver17 mins
CahootSunny Day Saver
£15 Free Cash•17 mins
£15 Free Cash
+£15What is Cahoot?
Cahoot is a digital savings brand and division of Santander UK, offering easy access savings accounts with competitive interest rates.
Their Sunny Day Saver account offers up to 5% AER on balances up to £3,000 with instant access and no penalties for withdrawals.
Launched
2000
Key Terms
Profit
+£15
Credit checkNone
Deposit£1
Cashback£15
Cashback arrives30 days
Step by Step Guide
Chris's overview
Optional·1 min read
Cahoot has been around since the year 2000, when we all breathed a sigh of relief that the millennium bug didn't return us to the caveman era. It's actually Santander's digital savings brand, which means your money is protected by one of the UK's biggest banks.
You'll get £15 free cash when you sign up via TopCashback and deposit just £1 into your Sunny Day Saver account. That's it! The cashback takes 30-60 days to become payable, but your £1 will be earning up to 5% interest while you wait.
Their interest rate is very competitive, so you may wish to consider switching savings you have elsewhere if this beats it.
Note that since it's a savings account (not a current account), you can still do the Santander current account switch offer separately. Check out the full review below for more details on the account itself.
1
Sign up via TopCashback
10 mins
- Click the button below to go via TopCashback
- Click through to Cahoot and open a Sunny Day Saver
- Register for Santander Online Banking
You must be 16+ and a UK resident. Security details will be sent by post.
On desktop? Scan QR code on your phone
2
Deposit £1
5 mins
- Transfer £1 into your Sunny Day Saver
That's all you need to qualify! Your money earns up to 5% AER on the first £3,000.
3
Receive £15 cashback30d
2 mins
£15 cashback becomes payable within 30 days (can take up to 60)
- Cashback tracks in TopCashback automatically
- Withdraw from TopCashback once payable
Offer Complete
Done? Tick off each step above to see your total.
Cahoot Full Review
Completed the offer? Awesome! Here's our full review on why Cahoot could work well for you going forward.
Cahoot is Santander's digital-first savings brand, launched back in 2000 as one of the UK's first online-only banks. Today it focuses purely on savings products, offering competitive interest rates backed by the security of a major high street bank.
Is Cahoot Safe?
Yes, Cahoot is very safe. It's a trading name of Santander UK plc, which is authorised and regulated by the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA).
Your savings are protected by the Financial Services Compensation Scheme (FSCS) up to £120,000 per person. This is the same protection you'd get with any major UK bank.
Since Cahoot is part of Santander, your £120,000 FSCS limit is shared across both brands. If you have savings with Santander directly, keep this in mind.
Who is Cahoot For?
Cahoot is ideal for savers who want a simple, no-fuss savings account with a competitive interest rate and the backing of a major bank.
It's particularly good for: - People who want easy access to their money without penalties - Savers looking for competitive rates on smaller balances (up to £3,000) - Those who prefer the security of a well-established bank over newer fintechs
It might not be for you if you need instant digital onboarding (you'll receive login details by post) or if you want a full current account with spending features.
Top 4 Features
1
Competitive Interest Rate
Up to 5% AER on first £3,000 (variable)
2
Instant Access
Withdraw anytime with no penalties or notice period
3
FSCS Protected
Your savings are protected up to £85,000
4
Santander Backed
Part of Santander UK, one of the UK's largest banks
Pros and Cons
Pros
- ✓Competitive interest rate up to 5% AER on first £3,000
- ✓Instant access with no withdrawal penalties
- ✓FSCS protected up to £120,000
- ✓Backed by Santander UK - trusted high street bank
- ✓Doesn't affect eligibility for Santander current account switch offers
Cons
- ✗Interest rate drops significantly on balances over £3,000
- ✗Old-school onboarding - login details sent by post
- ✗No app - managed through Santander online banking
- ✗FSCS limit shared with any Santander savings you have
Chris's Verdict
Cahoot is Santander's digital savings arm, offering easy access savings with competitive rates. The Sunny Day Saver gives you up to 5% on balances up to £3,000 with no penalties for withdrawals.
The application process is a bit old-school - you'll receive login details by post rather than instant digital access - but once set up, it's straightforward online banking. For a no-fuss savings pot with a trusted high street bank behind it, Cahoot does the job.