Cahoot Loan

You may choose either a fixed rate personal loan or a flexible rate personal loan from Cahoot. On both, the interest rate you will be charged is based on the amount you request, your credit rating and your credit history. The typical quoted APR reflects a rating that the bank anticipates offering to the majority of new Cahoot customers.

Search for the cheapest loans and apply online.

Cahoot personal loans are offered in two bands - from £2,000 - £4,999 and from £5,000 - £20,000. The interest rates charged are generally higher in the lower band. You may arrange a Cahoot loan over any period from 24 months to seven years.

If you repay your Cahoot personal loan early, if the original loan term is more than one year, an interest penalty (subject to set formula) of 30 days or one calendar month may be payable.

With a fixed rate personal loan you may pick a repayment term based on your budget, sure in the knowledge that the rate you are being charged will stay the same for the duration of the loan. However, Cahoot does offer you the option of switching your loan online to a Cahoot flexible loan if you need to do so, which would allow you to vary your loan repayments and also the amount you borrow.

As an online bank, Cahoot allows you to view your loan status online, run your account to its full term or settle early online. You must be at least 21 years of age to be able to apply for a Cahoot loan.

Cahoot is the online bank from Abbey (formerly Abbey National), which was launched in June 2000. Cahoot operates solely in cyberspace. As an online operation, it aims to offer borrowers highly attractive rates while at the same time giving you the reassurance of knowing that it is a division of one of the UK's leading financial services providers.

Is a Cahoot loan the right loan for your circumstances? The best way of checking whether your requirements will be matched by a loan from Cahoot is to use a comparison tool like Moneyextra's Personal Loan Search.

 

Last updated April 2008

Nothing in this article constitutes investment advice or a recommendation by Moneyextra to invest in any product, or employ any service, mentioned or advertised.