cahoot personal loans review

The more you borrow the lower the interest rates cahoot offers. So if you're in need of a larger sum, a cahoot personal loan could be the right option for you.

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Name Product Total Payable Monthly Repayment Representative APR Link
cahoot Online Personal Loan
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Representative example: Borrow £10,000.00 over 3 years at a rate of 2.9% p.a. (fixed). Representative APR 2.9% and total payable £10,447.20 in monthly repayments of £290.20.

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Please note: You should always refer to your loan agreement for exact repayment amounts as they may vary from our results.

Late repayments can cause you serious money problems. See our debt help guides.

cahoot loan rates at a glance

The cahoot Online Personal Loan charges 2.9% APR representative on loans between £7,500 and £20,000. cahoot offers the loan with repayment terms between 1 and 5 years and applicants can apply to borrow from £1,000 to £20,000.

If you are approved for a personal loan with cahoot, it will be funded by its parent company Santander.

cahoot ( is a UK-based financial provider and is the official online division of major European bank, Santander. Its personal loans are unsecured, so you won’t have to place any collateral against the loan such as your home.

The amount you pay in interest on your loan will vary according to your personal circumstances and also the amount you borrow. The more you borrow, the less interest you will pay. Always check the total amount you are paying back before you agree to a loan and only ever borrow what you need.

A personal loan can be used for anything from medical or vet fees to home improvements, a new car or furniture. Paying a large amount at one time can be difficult, but cahoot can help you pay the money back over a set period with a competitive fixed-rate loan. It’s quick and simple to apply online at the cahoot website or over the phone.

Key features of cahoot personal loans

Loan typeUnsecured Personal Loan
Loan amounts£1,000.00 to £20,000.00
Loan terms1 Year to 5 Years
Loan rate typeFixed
Product fee0%
Same day funding available
Instant decisions in most cases
Soft-search facility available
Joint applications
Overpay without penalty
Concurrent loans allowed
Topping-up pays off existing loan and initiates a new loan
Repayment methodsDirect Debit
Interest rates are fixed for the duration of your repayment period. However, the rate you’re offered will depend on factors such as the amount you apply for, the term of the loan, your credit rating and your income. It may differ from the advertised “Representative APR”.

What is APR?

If you’re comparing any credit-based products, it won’t be long before you’ll come across the Annual Percentage Rate (APR). This figure is designed to provide an annual summary of the cost of a loan. It takes into account both interest and any mandatory charges to be paid (for example, an arrangement fee) over the duration of a loan.

All lenders must calculate the APR of their products in the same way, and must tell you the APR before you sign an agreement, so for consumers it can be a handy tool for comparison.

However, bear in mind that lenders are only obliged to award this rate to 51% of those who take out the loan – the other 49% could pay more. That’s why it’s often referred to as the representative APR.

Am I eligible for a cahoot personal loan?

You should only apply for a cahoot personal loan if you’re certain you can meet the repayment terms. You must also:

  • Be aged 21 or over.
  • Have a good credit history.
  • Have a UK bank account.
  • Have a gross income of at least £6,000 per year.
  • Have not been declared bankrupt or had a CCJ or an IVA within the last 6 years.

What credit score do I need to get a cahoot loan?

cahoot typically offers loans to applicants with high credit scores. It's important to note that your credit record is just one factor that cahoot will consider. However if you don't have a high credit score, you're very unlikely to get approved for a cahoot loan.

A "Good" or "Excellent" credit rating would require a score of 881 or higher if you're referring to Experian's scale, 531 or higher if you're referring to Equifax's scale and 604 or higher if you're referring to TransUnion's scale.

Do cahoot loans give an instant decision?

No, currently decisions aren't instant. However, you can use the soft search eligibility checker to instantly find out your chances of getting approved (this won't affect your credit score).

Can I get a second cahoot loan?

Yes, cahoot allows you to have more than one loan running at the same time. Each application for credit will be considered on its own merit. Alternatively, cahoot also allows you to effectively "top up" your loan, by closing your current loan and starting a new, larger loan. There's no penalty for repaying ahead of time, but bear in mind that any overpayments may be subject to up to two months of interest beyond the date on which you overpay. Because of this, it may work out cheaper to run a second loan alongside the first, rather than consolidating the two.

Can I make overpayments on a cahoot loan?

Yes, you can make overpayments without incurring any penalty fee. However cahoot can continue to charge interest for up to two months on any sums overpaid, so although making overpayments stands to save you money in interest, you may not save quite as much as you'd imagined.

How can I apply?

If you've decided that a personal loan from cahoot is right for you, you can head over to cahoot's website to apply. Completing the secure online application form usually takes about 15 minutes. Before you apply, you can provide cahoot with a few details about yourself in order to find out your likelihood of being approved. This will not affect your credit score.

cahoot customer reviews

According to review platform Trustpilot, cahoot has received mostly negative reviews from customers. It currently has a rating of 1.5 out of 5, based on more than 70 reviews (updated 2 March 2022). Some customers reported discrepancies with the rate they were advertised and offered and others cited poor customer service.

Frequently asked questions

Will you be approved?

Check your personalised rates and likelihood of acceptance.
We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you.

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