Savers in the UK have been warned they should act soon
More than 6.5 million current accounts with balances exceeding £10,000 are generating zero interest(Image: MementoJpeg via Getty Images)
Over six million current accounts holding five-figure balances are earning nothing in interest, with hundreds of thousands containing more than £100,000, putting savers at risk of losing money in real terms.
More than 6.5 million current accounts with balances exceeding £10,000 are generating zero interest, according to analysis by savings app Spring. The figures indicate £230 billion is languishing in accounts offering no return rate – despite higher savings rates being readily accessible. The data reveals 340,000 accounts hold over £100,000 without earning a penny in interest, whilst the average balance among zero-interest accounts with more than £10,000 stands at £35,428.
In total, £324.8 billion is currently sitting in current accounts paying no interest, and an additional £71.3 billion is held in savings accounts earning 1 per cent or less, leaving millions of savers at risk of watching the real value of their money diminish through inflation, reports the Daily Record.
Of 86.3 million current accounts in credit as of November 2025, 75.5 million (87 per cent) paid nothing on balances The average balance across all non-interest-paying accounts was £4,300.
Low-interest savings accounts.
An additional £71.3 billion is sitting in 22.4 million adult savings accounts earning 1 per cent interest or less – significantly below the top easy-access rates currently available on the market.
In real terms, with inflation continuing to erode spending power, money held in accounts paying little or nothing is effectively diminishing. Spring’s study of 2,000 adults revealed a substantial number of UK savers are not optimising their returns, with many leaving their funds in low-interest accounts because of habit, apprehension and bewilderment.
The research demonstrates that more than a third of Brits (36%) maintain their savings with an account offered by their primary current account provider, while a fifth of participants (21%) confessed to keeping their savings in their current account. Just a quarter (27%) have chosen to deposit their savings with a different provider.
How to track down a lost pension
1. Gather old job details
- Find the name of your previous employer or pension provider.
2. Use the Pension Tracing Service
- Contact the government’s free Pension Tracing Service to get the provider’s contact details.
3. Contact the pension scheme directly
- Ask whether you have a pension, how much is in it and what your options are.
4. Update your contact details
- Make sure the provider has your current address and email.
5. Consider consolidating
- Bringing small pots together can make pensions easier to manage – but check for exit fees or valuable guarantees first.
Discussing the findings, Spring Head of Money Derek Sprawling said: “It’s staggering that over six and a half million current accounts hold over £10,000 and are earning absolutely nothing, with some people leaving six-figure sums languishing in accounts that erodes the real value of their money.
“This isn’t about people being careless as our research shows many are stuck in old habits or feel overwhelmed by the choices available. But in a higher-rate environment, doing nothing can be incredibly costly.
“Even small changes, like moving surplus cash into a competitive savings account, could make a meaningful difference to people’s finances.”
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