Research conducted by Spring involving 2,000 adults has revealed that a substantial number of UK savers are missing out
Research conducted by Spring involving 2,000 adults has revealed that a substantial number of UK savers are missing out
Linda Howard Money and Consumer Writer and Rory Poulter
05:44, 09 Jan 2026
Research from Spring, the savings app that connects directly to current accounts, has disclosed that Brits lost out on billions of pounds in interest payments last year due to maintaining substantial balances in non-interest-bearing current accounts.
Spring’s examination of CACI (Consumer and demographic) data unveiled that, on average, 6.5 million current accounts offering no interest held balances exceeding £10,000 in 2025, with the average balance in these accounts at each month-end totalling £35,000.
Derek Sprawling, Head of Money at Spring, pointed out that if those balances were kept in a savings account offering an interest rate of 4.11 per cent, it would have generated £1,500 in interest over the year, or a staggering £9.75 billion across all 6.5 million accounts.
Spring’s analysis discovered that an average of £227 billion was stored in current accounts with balances of £10,000 or more in 2025, equating to 71 per cent of the total value of cash held in non-interest-earning current accounts (£319.4 billion).
While the average balance stood at £35,000, some consumers had significantly larger amounts in their current accounts – nearly three-quarters of a million accounts (705,201) contained between £50,001 and £100,000, with an average of 327,000 accounts holding more than £100,000 at the end of each month, reports the Daily Record.
Those with £50,000 are forfeiting over £2,000 in interest, and those with over £100,000 are losing out on £4,200 annually, based on an alternative rate of 4.11 per cent.
Research conducted by Spring, surveying 2,000 adults, has revealed that a substantial number of UK savers aren’t getting the most from their money, often leaving funds languishing in low-interest accounts through a mixture of routine behaviour, apprehension and uncertainty.
The results indicate that more than a third of people (36%) maintain their savings with the same institution that handles their main current account, whilst a fifth (21%) confess to simply leaving their savings sitting in their current account. Just a quarter (27%) have chosen to move their savings to a different provider.
Respondents who hadn’t transferred their money cited habit as the primary reason, accounting for almost a third (31%). Close behind were just over a quarter (26%) who voiced concerns about losing instant access to their cash.
A quarter (25%) of those surveyed believed there would be no advantage in relocating their savings, whilst just under a fifth (17%) were unsure about alternative options for their funds.
Derek Sprawling added: “On average, over £315 billion 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 sizable 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.”
He further stated: “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.”
