An average of nearly 6.5 million current accounts paying zero interest contained over £100,000 in 2025.
Research from Spring, the savings app that links directly to current accounts, has revealed that Brits missed out on billions of pounds in interest payments last year by keeping sizable balances in zero-paying current accounts.
Spring’s analysis of CACI (Consumer and demographic) data revealed that, on average, 6.5 million current accounts paying zero interest contained balances of more than £10,000 in 2025, with the average balance held in the accounts at the end of each month totalling £35,000.
Derek Sprawling, Head of Money at Spring, said that if those balances were held in a savings account paying interest of 4.11 per cent, it would have generated £1,500 in interest over the year, or £9.75 billion across up to the 6.5 million accounts.
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Spring’s analysis found that an average of £227 billion was kept in current accounts with balances of more than £10,000 or more in 2025, equating to 71 per cent of the total value of cash contained in current accounts earning zero interest (£319.4 billion).
While the average balance was £35,000, some consumers held considerably higher amounts in their current accounts – nearly three quarters of a million accounts (705,201) contained between £50,001 and £100,000, with 327,000 accounts on average containing more than £100,000 at month end.
Those with £50,000 are losing out on over £2,000 in interest, and those with over £100,000 are missing out on £4,200 annually, based on an alternative rate of 4.11 per cent.
Spring’s survey of 2,000 adults showed a significant proportion of UK savers are failing to maximise their returns, with many keeping their money in low-interest accounts due to a combination of habit, fear and confusion.
The findings show that over a third of people (36%) keep their savings with an account provided by their main current account provider, with a fifth of respondents (21%) admitting to keeping their savings in their current account itself. Only a quarter (27%) have opted to place their savings with a separate provider.
When asked why they hadn’t moved their money, almost a third (31%) said it was simply down to habit.
This was closely followed by just over a quarter (26%) who expressed anxiety about losing immediate access to their funds.
A quarter (25%) of respondents stated that they didn’t believe they would benefit from moving their savings elsewhere, and just under a fifth (17%) weren’t sure what else they would do with their money.
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 added: “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.”
