What we found: High street bank savings rates remain low
Spring’s analysis of Moneycomms’ data in May 2026 reveals that easy access savings rates from high street banks are sitting below 1.00% AER on average. Based on analysis of the top 50 easy access savings accounts, the average rate paid by high street banks is just 0.96% AER.
Across nine of the high street banks: four offer around 1.00%, while two pay as low as 0.75%. For savers, that means many accounts are delivering minimal returns.
Key takeaway for savers: If your savings are sitting in a typical high street easy access account earning around 1.00%, effortlessly connecting to the Spring app can provide you better returns without needing to move your current account.
Why this matters for easy access savers
Saving is an investment in the future, even a modest improvement can make a difference over time. Many people choose easy access savings accounts because they want flexibility, but that should not mean settling with a lower rate that does very little for their savings.
Savers who have not checked their rate recently may be surprised by how little interest they are actually earning.
As Derek Sprawling, Spring Head of Money, says:
“Millions of savers fall into the trap of settling for a low interest savings account with their high street bank. Many worry that moving their savings means losing the option of ‘true’ easy access. That is the case for traditional savings products but not necessary if you’re able to secure a higher rate and instant transfers.
“Too often, people stick with a familiar provider and don’t notice when their rate has slipped, or they assume their bank is still giving them a fair deal. It’s worth taking a few minutes to find an alternative provider that offers same day withdrawals and a higher rate.”
In some cases, there are strings attached (restrictions) too
The low rates are one issue, but they’re not the only one. Moneycomms research also found that only 15 out of the top 50 easy access accounts were classed “pure” easy access with no withdrawal limits, penalties or restrictions.
Across the accounts analysed:
- 42% limit withdrawals, restricting how often you can access your money
- 28% apply interest penalties depending on withdrawals
- 24% rely on short-term bonus rates, which may not last
- 12% include additional conditions, such as balance requirements
So while the headline problem is that high street banks pay just 0.96% on average, some accounts may be less flexible than savers expect.
Read more on the restrictions that come with easy access savings accounts:
- When easy access isn’t always so easy
- 34 out of top 50 accounts have restrictions
- Withdrawal delays that come with easy access savings
An alternative way to save
The good news? Savers do not necessarily need to choose between access and return.
Modern savings providers, like Spring, offer:
- Competitive rates – paying a lot more than 1.00%
- Genuine easy access — simply withdraw whenever you need
- No hidden restrictions or conditions
For savers currently earning around 1.00% with a high street bank, even a modest improvement to your interest rate can make a noticeable difference over time.
To show the impact over 12 months assuming the rate does not change: £10,000 saved at 1.00% AER earns £100 in interest. At 3.00% AER, your annual interest can rise to £300 - three times as much.
The takeaways for savers
- High street easy access savings accounts are paying just 0.96% on average - and that means many savers could be earning far less than they could.
- Before leaving money where it is, it is worth checking the rate, reading the small print and comparing what else is available.
- A better ‘pure’ easy access option could offer both stronger returns and the flexibility savers expect.
For more tips and insights, take a look at our range of savings blogs.
Save with Spring
The Spring app connects to your current account to make saving easier than ever. Get started now by downloading the app.
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A word from our lawyersThis post is for informational purposes only and should not be considered financial advice. Always review multiple providers and consider seeking regulated financial advice if you're unsure which product meets your needs.
Spring commissioned Moneycomms to analyse the top 50 UK non‑ISA easy access savings accounts on 21 May 2026.
*AER stands for Annual Equivalent Rate and this shows what the interest rate would be if interest was paid and added once each year.
