Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
Despite rising interest<br />
rates, the use of deposit<br />
products remains<br />
relatively stable<br />
In a time of rising interest rates, one might expect <strong>businesses</strong><br />
to change how they handle savings and deposit accounts, but<br />
habits remain relatively stable.<br />
<strong>Savanta</strong>’s MarketVue <strong>Business</strong> Banking data has been<br />
tracking product usage <strong>for</strong> over a decade and there has been<br />
no significant movement in the usage of instant access and<br />
term deposit accounts in the last 2 years, despite rising interest<br />
rates.<br />
The usage of instant access deposit accounts has only seen a<br />
modest increase of 3 percentage points since Q1 2022 (36% to<br />
39%), while term deposit usage appears to be stable at 6%.<br />
Product held <strong>for</strong> your business in the past 12 months from any provider<br />
38% 37% 37% 37% 37% 37%<br />
39% 40%<br />
36% 36% 36% 36% 36% 36%<br />
38% 39%<br />
6% 6% 6% 5% 5% 5% 5% 6%<br />
Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023<br />
(4317) (4355) (4267) (4327) (4427) (4296) (4202) (4082)<br />
Instant Access Term Deposit Any business Deposit<br />
savanta.com<br />
MVBB: SU EST £0-1bn YE <strong>GB</strong><br />
3
Change language