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
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.
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 differential | Less well know/regional providers | New savings providers | Smaller building societies | One of the main high street providers |
|---|---|---|---|---|
| Below 1 percentage point | 5% | 10% | 10% | 14% |
| 1-2 percentage point(s) | 4% | 8% | 7% | 11% |
| 2-3 percentage points | 2% | 6% | 5% | 7% |
| More than 3 percentage points | 6% | 9% | 8% | 14% |
| Don't know | 83% | 67% | 70% | 55% |
Source
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