The Funding for Lending Scheme has so far been detrimental to savers. It has made banks less reliant on depositors’ money to fund borrowing, removing the incentive to offer really competitive savings rates. Some questions answered in this report include: Is competition increasing the savings market? What types of savings accounts are consumers favouring? How frequently are they saving? Do consumers trust savings providers to look after their money?

1. Deposit and Savings Accounts - UK - April 2013
The Funding for Lending Scheme has so far been detrimental to savers. It has made banks less reliant on
depositors’ money to fund borrowing, removing the incentive to offer really competitive savings rates.
Some questions answered in this report include: Is competition increasing the savings market? What types of
savings accounts are consumers favouring? How frequently are they saving? Do consumers trust savings
providers to look after their money?
table Of Content
introduction report Scope And Product Definitions abbreviations executive Summary the Market the
Market Will Continue To Grow, Albeit Steadily figure 1: Forecast Of Retail Savings Balances, At Current
Prices – Fan Chart, 2007-17 sub-sector Performance size Of The Saver Population market Factors
poor Savings Environment Acts As A Disincentive To Save low Confidence And Low Returns companies,
Brands And Innovation largest Providers Of Savings Accounts figure 2: Providers’ Share Of Total
Retail Savings Balances, Shown On A Group Basis – Uk, 2012 brands Score Poorly On Trust And
Differentiation figure 3: Attitudes Towards And Usage Of Selected Brands In The Deposit And Savings
Account market, December 2012 online Account Management Has Become The Preferred Channel figure 4:
Channel Most Used To Access Savings Account, By Type Of Account Held, January 2013 savings Providers
Cut Back Adspend In 2012 the Consumer two Fifths Of Savers Hold More Than One Savings Account an
Easy-access Account Is The Most Popular Cash Savings Product figure 5: Ownership Of Cash Savings
Products, By Type Of Account, January 2013 a Quarter Of Adults Save Every Month Without Fail figure 6:
Saving Frequency, January 2013 savings Intentions Over The Coming Six Months figure 7: Amount
Expected To Save Within The Next Six Months Relative To The Previous Six Months, january 2013 more
Than A Quarter Of Savers Are Considering Alternative Places To Invest Their Cash figure 8: Agreement
With Statements About Saving And Savings Accounts, January 2013 what We Think issues In The Market is
Competition Increasing The Savings Market? what Types Of Savings Accounts Are Consumers Favouring?
how Frequently Are They Saving? do Consumers Trust Savings Providers To Look After Their Money? trend
Application trend: Fstr Hypr trend: Prove It mintel’s Futures: Access Anything, Anywhere market
Drivers key Points savers Are Being Penalised By A Low Base Rate And High Inflation figure 9: Average
Annual Changes In The Bank Of England Base Rate, Cpi And Rpi – Uk, 2004-13 negative Rates
Mooted But Very Unlikely online Accounts Offer Better Rates Of Return Than Their Branch-based
Equivalents figure 10: Average Monthly Quoted Branch-based Deposit Interest Rates, January 2006-january
2013 introduction Of Fls Has Further Depressed Savings Rates… …and Reduced Product
Availability economic Downturn Prompted Rise In The Savings Ratio… figure 11: Gross Household
Savings And Saving Ratio, Seasonally Adjusted And At Current Prices, 2001-12 …though This
Doesn’t Necessarily Mean People Are Saving More wider Economic Backdrop household Income
Squeeze Will Remain A Key Feature Of 2013 figure 12: Monthly Change In Rpi And Average Weekly
Earnings, January 2008-december 2012 ongoing Eurozone Debt Crisis Threatens To Further Undermine
Confidence consumer Sentiment Languishes In Negative Territory figure 13: Gfk Consumer Confidence
Deposit and Savings Accounts - UK - April 2013

2. Barometer – Uk, January 1989-january 2013 both Saving And Spending Confidence Remain Weak
figure 14: Saving And Spending Confidence, March 2001-september 2012 two Fifths Of People Have
‘added To Their Savings’ In The Past Three Months… figure 15: Usage Of Disposable
Income – Recent Past And Near Future, January 2013 …but Savings Intentions Have Receded
Over The Past Few Months figure 16: Cash Deposit Intentions, March 2006-december 2012 more People Are
Motivated To Save By Short-term Materialistic Goals Than A Desire To Ensure A comfortable Retirement
figure 17: Main Reasons For Saving, February 2012 competitive Context key Points cash Isas: Both A Rival
And A Variant Product figure 18: Value Of New Isa Subscriptions, 2006/07-2011/12 far Fewer People Hold
Equities Than Cash Savings figure 19: Ownership Of Savings And Investments, By Asset Type, November
2012 improved Stockmarket Performance Could Attract Disillusioned Savers figure 20: Ftse 100 And Ftse
All-share – Daily Index Movements, January 2004-february 2013 market Swot Analysis figure 21:
Retail Savings Accounts – Swot Analysis, 2013 who’s Innovating? key Points improved
Funding Situation Reduces Incentive To Innovate the Banks Are Putting Greater Focus On Their Current
Accounts… santander’s 123 Current Account m&s Bank Launches Premier Current Account
lloyds Tsb’s Vantage Offer nationwide Enters The Packaged Account Market …and Existing
Customers market Size And Forecast key Points retail Deposits Increase By 5% In 2012 figure 22: Retail
Savings Balances, By Sector, 2003-12 more Money Flowing Into Time Accounts, As Savers Seek To Bolster
Their Returns figure 23: Volume And Value Of Individual Interest-bearing Current And Deposit Accounts
(mbbgs only), 2003-11 a Sizeable Customer Base figure 24: Estimated Number Of Retail Savers In The Uk,
By Type Of Account, January 2013 very Steady Growth Trend Is Forecast To Continue figure 25: Forecast
Of Retail Savings Balances, At Current Prices – Fan Chart, 2007-17 figure 26: Forecast Of Total
Retail Savings Balances, 2012-17 forecast Methodology fan Chart Explanation market Share key Points
halifax Is The Leading Brand In The Retail Savings Account Market figure 27: Ranking Of Largest Providers
Of Savings Accounts, By Proportion Of Customers, January 2013 provider Rankings Based On Overall Retail
Savings Balances figure 28: Providers’ Total Retail Savings Balances, Shown On A Group Basis
– Uk, 2010-12 companies And Products lloyds Banking Group figure 29: Key Annual Financial Data
For Lloyds Banking Group, 2011 And 2012 nationwide Building Society figure 30: Key Interim Financial
Data For Nationwide Building Society, H1 2011 And H1 2012 santander figure 31: Key Annual Financial
Data For Santander Uk, 2011 And 2012 barclays figure 32: Key Annual Financial Data For Barclays Plc,
2011 And 2012 hsbc figure 33: Key Annual Financial Data For Hsbc Bank Plc, 2011 And 2012 rbs Group
figure 34: Key Annual Financial Data For Rbs Group, 2011 And 2012 brand Research brand Map figure 35:
Attitudes Towards And Usage Of Selected Brands In The Deposit And Savings Account market, December
2012 correspondence Analysis brand Qualities figure 36: Brand Attributes And Qualities, By Selected
Brands Operating In The Deposit And Savings market, December 2012 brand Personality figure 37: Deposit
And Savings Account Brand Personality – Macro Image, December 2012 figure 38: Deposit And
Savings Account Brand Personality – Micro Image, December 2012 brand Experience figure 39:
Usage Of Brands Operating In The Deposit And Savings Market, December 2012 figure 40: Satisfaction With
Various Brands Operating In The Deposit And Savings Market, December 2012 figure 41: Consideration Of
Brands That Operate In The Deposit And Savings Market, December 2012 . 74 figure 42: Consumer
Perceptions Of Current Brand Performance Of Selected Brands Operating In The deposit And Savings Market,
December 2012 figure 43: Deposit And Savings Account Brand Recommendation – Net Promoter
Score, December 2012 brand Index figure 44: Deposit And Savings Account Brand Index, December 2012
figure 45: Deposit And Savings Account Brand Index Vs. Recommendation, December 2012 target Group
Deposit and Savings Accounts - UK - April 2013

3. Analysis figure 46: Target Groups, December 2012 figure 47: Usage Of Brands Operating In The Deposit
And Savings Market, By Target Groups, december 2012 group One – Conformists group Two
– Simply The Best group Three – Shelf Stalkers group Four – Habitual Shoppers group
Five – Individualists brand Communication And Promotion key Points 2012 Sees Sharp Fall In
Industry Adspend figure 48: Total Advertising Expenditure On Cash Savings Products, 2008-12 in 2012
Savings Providers Spent More On Their Brands figure 49: Total Advertising Expenditure On Cash Savings
Products, By Product Type, 2008-12 tv Claimed The Largest Share Of Sector Adspend In 2012 figure 50:
Distribution Of Adspend On Cash Savings Products, By Media Type, 2010-12 halifax Was Once Again The
Highest-spending Advertiser In The Savings Account Market In 2012… figure 51: Top Ten Advertisers
Of Savings Accounts (excluding Cash Isas), 2010-12 …while Sister Brand Lloyds Tsb Invested The
Most In The Cash Isa Market figure 52: Top Ten Advertisers Of Cash Isas, 2010-12 channels To Market key
Points greater Focus On Remote Channels Underpins Steady Decline In The Uk Branch Network figure 53:
Uk Bank And Building Society Branch Networks, 2003-11 most Savers Access Their Accounts Online
figure 54: Channel Most Used To Access Savings Account, By Type Of Account Held, January 2013 number
Of Accounts Held And Switching Activity key Points many People Hold Multiple Savings Accounts figure
55: Number Of Savings Accounts Held, 2009-12 fairly Stable Customer Churn figure 56: Percentage Of
Savers Who Have Opened A New Savings Account Within The Past 12 months, 2009-12 types Of Savings
Account Held key Points survey Background roughly Four In Five Uk Adults Have Some Form Of Cash
Savings Product figure 57: Ownership Of Cash Savings Products, February 2012 And January 2013 over-55s
Are Most Likely To Have Savings… figure 58: Ownership Of Cash Savings Products, By Gender And
Age, January 2013 …due To Their Greater Wealth Accumulation figure 59: Value Of Investible
Assets, By Gender And Age, January 2013 fixed-term Bonds And Tax-exempt Savings Products Strongly
Appeal To Those With Substantial assets figure 60: Ownership Of Cash Savings Products, By Value Of
Investible Assets, January 2013 recent Saving Activity And Future Plans key Points one In Four Adults Are
Managing To Save Every Month Without Fail figure 61: Saving Frequency, By Type Of Savings Product
Owned, January 2013 customers Who Are Planning To Save More Over The Next Six Months Are Offset By
Those Who expect To Save Less figure 62: Saving Intentions Over The Next Six Months, By Type Of
Savings Product Owned, January 2013 customer Experience key Points one In Four Have Been Treated
Poorly Or Unfairly By Their Savings Account Provider figure 63: Frequency Of Experiencing Poor Customer
Service Within The Past Two Years, January 2013 customer Detriment Is Most Common Among Notice
Account Holders figure 64: Frequency Of Experiencing Poor Customer Service Within The Past Two Years,
By Type Of savings Account Owned, January 2013 nationwide Has The Best Customer Service Record
figure 65: Frequency Of Experiencing Poor Customer Service Within The Past Two Years, By Savings
account Provider (top Seven Only), January 2013 attitudes Towards Saving And Savings Accounts key
Points most Savers Are Disappointed By The Rates Of Returns They Are Getting figure 66: Agreement With
Statements About Saving And Savings Accounts, January 2013 fixed-term Bond Holders Are The Most
Disillusioned figure 67: Agreement With Statements About Saving And Savings Accounts, By Type Of
Account Held, january 2013 a Large Minority Of Savers Think It’s Unsafe To Keep Savings At One
Bank figure 68: Level Of Agreement With Statements About Saving And Savings Accounts, By Value Of
investible Assets, January 2013 appendix – Market Size And Forecast total Market Forecast –
Best- And Worst-case Scenarios figure 69: Forecast Of Total Retail Savings Balances – Best- And
Worst-case Scenarios, At Current prices, 2012-17 market Forecast By Sector figure 70: Forecast Of Total
Retail Savings Balances, By Sector, At Current Prices, 2007-17 bank Sector Forecast figure 71: Forecast Of
Deposit and Savings Accounts - UK - April 2013

4. Retail Savings Balances – Bank Sector Only, At Current Prices – Fan Chart, 2007-17 figure 72:
Forecast Of Total Retail Savings Balances – Bank Sector Only, 2012-17 figure 73: Forecast Of Bank
Sector Retail Savings Balances – Best- And Worst-case Scenarios, At current Prices, 2012-17 mutual
Sector Forecast figure 74: Forecast Of Retail Savings Balances – Mutual Sector Only, At Current
Prices – Fan Chart, 2007-17 figure 75: Forecast Of Total Retail Savings Balances – Mutual
Sector Only, 2012-17 figure 76: Forecast Of Mutual Retail Savings Balances – Best- And Worst-case
Scenarios, At Current prices, 2012-17 ns&i Sector Forecast figure 77: Forecast Of Retail Savings Balances
– Ns&i Sector Only, At Current Prices – Fan Chart, 2007-17 figure 78: Forecast Of Total
Retail Savings Balances – Ns&i Sector Only, 2012-17 figure 79: Forecast Of Ns&i Retail Savings
Balances – Best- And Worst-case Scenarios, At Current prices, 2012-17 forecast Methodology fan
Chart Explanation appendix – Brand Research figure 80: Brand Usage, December 2012 figure 81:
Brand Commitment, December 2012 figure 82: Brand Momentum, December 2012 figure 83: Brand
Diversity, December 2012 figure 84: Brand Satisfaction, December 2012 figure 85: Brand Recommendation,
December 2012 figure 86: Brand Attitude, December 2012 figure 87: Brand Image – Macro Image,
December 2012 figure 88: Brand Image – Micro Image, December 2012 figure 89: Profile Of Target
Groups, By Demographics, December 2012 figure 90: Psychographic Segmentation, By Target Groups,
December 2012 figure 91: Brand Usage, By Target Groups, December 2012 brand Index figure 92: Brand
Index, December 2012 appendix – Ownership Of Savings Accounts figure 93: Ownership Of Cash
Savings Products, By Demographics, January 2013 appendix – Value Of Investible Assets figure 94:
Value Of Investible Assets, By Demographics, January 2013 appendix – Customer Profiles For The
Top Seven Providers figure 95: Comparison Of Customer Profiles For The Top Seven Providers Of Savings
Accounts, By demographics, January 2013 appendix – Recent Savings Activity And Future Plans
figure 96: Saving Frequency, By Demographics, January 2013 figure 97: Saving Frequency, By Value Of
Investible Assets, January 2013 figure 98: Saving Intentions Over Next Six Months, By Demographics,
January 2013 figure 99: Saving Intentions Over The Next Six Months, By Value Of Investible Assets,
January 2013 figure 100: Saving Intentions Over Next Six Months, By Provider Of Easy-access Savings
Account (top Seven Only), January 2013 appendix – Customer Experience figure 101: Experience Of
Poor Customer Service Within Past Two Years In Relation To Savings accounts, By Demographics, January
2013 appendix – Attitudes Towards Saving And Savings Accounts figure 102: Agreement With
Statements About Saving And Savings Accounts, By Demographics, january 2013 figure 103: Agreement
With Further Statements About Saving And Savings Accounts, By demographics, January 2013 figure 104:
Level Of Agreement With Statements About Saving And Savings Accounts, By Account provider (top Seven
Only), January 2013 uk Research Methodology consumer Research sampling And Weighting definitions
qualitative Research trade Research informal formal desk Research statistical Forecasting european
Research Methodology.
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Deposit and Savings Accounts - UK - April 2013

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Deposit and Savings Accounts - UK - April 2013