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Product and Pricing Trends in UK Deposits and ISAs
Datamonitor, Feb 2009, Pages: 60
This report specifically analyses the retail deposits and ISA market in the following segments: ordinary savings accounts, regular savings accounts, Mini cash ISAs, current accounts, and foreign currency accounts.
Scope
- Covers the UK retail deposits market, including forecasts to 2012 for ISAs and to 2013 for deposits
- Analyzes Ordinary savings accounts, Regular savings accounts, ISAs, Current accounts with / without overdrafts and Foreign currency accounts
- Assesses interest rates, product features, market size and share
- Includes January 2007, January 2008 and December 2008 Moneyfacts data
Highlights of this title
Cash ISAs continue to grow. While sales of stocks and shares ISAs are set to decrease over the coming period, cash ISAs are increasing their overall share of the retail deposits market. There has been a sharp reversal of previous trends, as providers move to offer shorter notice accounts.
Foreign currency accounts have slightly lost market share by number of accounts offered, and the failure of Kaupthing has had a negative impact on the offshore euro and dollar markets, as before its collapse it provided one of the best interest rates available.
By December 2008, banks non-tiered offerings outnumbered tiered accounts, while building societies still provided a combined total of 295 tiered accounts to 194 non-tiered. This may suggest that banks are able to respond more rapidly than building societies to market conditions and consumer sentiment.
Key reasons to purchase this title
- Develop a comprehensive understanding of product features and pricing strategies in the retail deposit sector
- Understand the future for the UK deposits and ISAs market, including the effect of the current economic downturn
- Benchmark your bank against the market in terms of product range and pricing features
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