Abstract
Over half of consumers held a deposit or savings account in October 2006. However, in spite of savings accounts already being popular among consumers, banks and building societies continue to grow the total number of account using innovative marketing techniques. For example, in the last 12 months banks have advertised interest rates of 10% or more on savings accounts in order to steal custom away from other savings account providers.
The main objectives of this report are to identify marketing opportunities in the deposit and savings account market and to establish how the market has changed since Mintel' s last deposit and savings account report, which was published in January 2006. Amongst other information, this report provides analysis of the savings market' s strengths and weaknesses. Also, developments relevant to the savings market over the last year such as Individual Savings Accounts (ISAs) becoming a permanent savings option for consumers.
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