Interest rates are harder to explain than the offside rule

Study shows

Savers would rather explain the offside rule than interest rates, according to a new survey by Hampshire Trust Bank.

With the World Cup less than six months away, the research suggests that savers are more at home with the intricacies of the beautiful game, compared to the impact interest rates could have on their heard-earned cash.

The findings of the straw poll* reveal that, in addition to the offside rule, explaining interest rates is more difficult than cooking a roast dinner, understanding credit ratings, changing a car tyre, staying the night in a haunted house or learning a new language.

Stuart Hulme, Director of Savings at Hampshire Trust Bank said: “While interest rates are the hot topic in the savings market, we accept that they are not always the easiest to understand. Indeed, our customers said they are even more difficult to explain than the offside rule, which is notoriously complicated. 

“We believe the financial services industry has a responsibility to customers to be transparent, to ensure all of the necessary information is available and that providers explain fully how changes to an interest rate can impact the return on savings.”

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