Warning issued to six million Brits who have savings in the bank

Millions are at risk of losing money

According to analysis by savings app Spring, savers are now at risk of losing money in real terms, as more than 6.5 million current accounts with balances exceeding £10,000 are generating zero interest.

Despite higher savings rates being readily accessible, the figures indicate £230 billion is languishing in accounts offering no return rate.

As per the data, it is revealed that 340,000 accounts hold over £100,000 without earning a penny in interest.

While the average balance among zero-interest accounts with more than £10,000 stands at £35,428, it is revealed.

The Daily Record reports that 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.

This leaves millions of savers at risk of watching the real value of their money diminish through inflation.

As of November 2025, of 86.3 million current accounts in credit, 75.5 million (87 per cent) paid nothing on balances, as the average balance across all non-interest-paying accounts was £4,300.

An additional £71.3 billion is sitting in 22.4 million adult savings accounts earning 1 per cent interest or less.

This is significantly below the top easy-access rates currently available on the market.

With inflation continuing to erode spending power, money held in accounts paying little or nothing is effectively diminishing.

According to a Spring study of 2,000 adults, it is revealed that 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.

More than a third of Brits (36%), the research demonstrates, 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.

On the other hand, just a quarter (27%) have chosen to deposit their savings with a different provider.