New Lloyds TSb ad - misuse of percentage?

[Mattk]

In the latest Lloyds TSB ad they say that you will get a whopping 50% more than the standard interest rate in your first year which is 6.4%(or something like that)...surely if you get 50% more you should get over 50% interest?!

Surely this should be re-worded?

[mikeydred]

Its a percentage of a percentage. So I assume the normal rate is about 4.26% , and extra 50% of this takes it up to 6.4%.

This is the bank that makes a big deal out of the fact that it pays you interest from when a cheque is deposited rather than when it is cleared , benefiting you to the tune of (at 6.4% pa) about 0.014% , ie a sixty pound checque would give you an extra 0.01p in interest

[sometimesit]

It is the clever use of English.
One word changes the meaning. It's not 50% but 50% MORE
Like in sales where they also use %.
It's not 70% off but - UP TO 70% so they only have a few items that are truely 70% off. The majority are reduced by 10% or 20%. It's to grap your attention.
You must always read the small print!!