British savers left a staggering nearly £10billion on the table last year by allowing substantial sums to languish in accounts paying no interest whatsoever, new research has found.
Analysis conducted by savings app Spring, drawing on CACI data, uncovered that approximately 6.5 million zero-interest current accounts maintained balances exceeding £10,000 throughout 2025.
The typical month-end balance in these accounts stood at £35,000. Had account holders transferred these funds into a savings product offering 4.11 per cent interest, each would have pocketed roughly £1,500 annually.
Across all 6.5 million savings accounts, this represents a collective fortune in foregone earnings that could have benefited thousands of households across the nation.
Savers are losing billions to low-interest accounts
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The financial toll grows considerably steeper for those with larger deposits sitting idle. Individuals maintaining £50,000 in their current accounts are forfeiting more than £2,000 in potential interest each year.
For the wealthiest account holders, the losses become truly eye-watering with Spring’s research revealed that nearly three quarters of a million accounts—some 705,201—contained between £50,001 and £100,000.
A further 327,000 accounts held average month-end balances surpassing £100,000. These high-balance customers are missing out on approximately £4,200 annually, calculated against the 4.11 per cent benchmark rate.
Altogether, some £227billion sat in savings accounts holding £10,000 or more, representing 71 per cent of all zero-interest current account deposits.
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A survey of 2,000 adults conducted by Spring shed light on why so many Britons remain reluctant to shift their savings. Habit emerged as the primary culprit, with 31 per cent of respondents admitting they simply hadn’t got round to making a change.
Close behind, 26 per cent expressed concern about losing immediate access to their funds. A quarter of those surveyed believed relocating their money would yield no meaningful benefit.
Perhaps most tellingly, 17 per cent confessed they were uncertain what alternative options existed. The research also found that over a third of people keep savings with their main current account provider, while a fifth store savings directly in their current account.
Derek Sprawling, the head of Money at Spring, emphasised that current accounts from banks and building societies serve a fundamentally different purpose than wealth accumulation.
He explained: “On average, over £315billion was held in current accounts earning nothing in the UK last year, £227 billion in accounts holding £10,000 or more.
“You would expect that these would mainly consist of small balances, but our analysis shows that there are a significant number of accounts that contain sizeable funds, accounting for more than 70 per cent of the overall balance.
“A current account is for day-to-day spending, not long-term storage. Yet millions of current accounts contained an average balance of £35,000 last year, which could have been earning significant returns.
“If you’re holding £50,000 or £100,000, the missed interest quickly tops £2,000 and £4,000. A simple switch to a competitive easy‑access savings account lets your money work harder while still staying within easy reach.”
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“Many people don’t move those funds because they don’t want to lose access to it but choosing a savings account that connects to a current account so you can transfer money in seconds and offers unlimited withdrawals, could provide a compelling alternative.”
Savers have enjoyed a period of high interest rates in recent years following recent decision-making from the Bank of England, specifically when it comes to the cost of borrowing.
In an effort to bring down the consumer price index (CPI) rate of inflation, the central bank has raised interest rates to as high as 5.25 per cent, which has been passed onto banks and building societies.
As the CPI rate has fallen closer to the Bank’s desired target of two per cent, the base rate has since fallen to 3.75 per cent, which is expected to be soon reflected in upcoming savings account offerings.