Interest rate difference motivating savings account provider switch in the UK 2014

Expected interest rate difference for switching current savings account in the United Kingdom (UK) as of 2014, by provider

by Statista Research Department, last edited Jan 20, 2015
Interest rate difference motivating savings account provider switch in the UK 2014 This statistic presents the responses of savings account holders regarding the necessary interest rate change that would motivate an account switch in the United Kingdom (UK) as of 2014, broken down by the potential new provider. The majority of respondents was unable to give a definite response. Among those who did, 14 percent of respondents said they would consider switching their easy accounts account to one managed by the main high street provider for an up to one percentage point difference in interest rates, whereas only 5 percent would switch to a less well known/regional provider for the same interest rate difference.
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Expected interest rate difference for switching current savings account in the United Kingdom (UK) as of 2014, by provider

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Interest rate differentialLess well know/regional providersNew savings providersSmaller building societiesOne of the main high street providers
Below 1 percentage point5%10%10%14%
1-2 percentage point(s)4%8%7%11%
2-3 percentage points2%6%5%7%
More than 3 percentage points6%9%8%14%
Don't know83%67%70%55%
Interest rate differentialLess well know/regional providersNew savings providersSmaller building societiesOne of the main high street providers
Below 1 percentage point5%10%10%14%
1-2 percentage point(s)4%8%7%11%
2-3 percentage points2%6%5%7%
More than 3 percentage points6%9%8%14%
Don't know83%67%70%55%
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by Statista Research Department, last edited Jan 20, 2015
This statistic presents the responses of savings account holders regarding the necessary interest rate change that would motivate an account switch in the United Kingdom (UK) as of 2014, broken down by the potential new provider. The majority of respondents was unable to give a definite response. Among those who did, 14 percent of respondents said they would consider switching their easy accounts account to one managed by the main high street provider for an up to one percentage point difference in interest rates, whereas only 5 percent would switch to a less well known/regional provider for the same interest rate difference.
Show more
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Statistics on "Individual savings accounts in the United Kingdom (UK)"
  • Average amounts per account
  • Saving accounts in the United Kingdom
  • Saving behaviour
  • Distribution and usage of ISAs
  • Risks associated with ISAs
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