- One million accounts earning zero interest contain over £50,000
- Balances of £116 billion are held in current accounts with over £50,000
- The average amount held in current accounts with more than £50,000 stands at £111,537.
More than one million current accounts holding balances of over £50,000 are earning no interest, according to analysis by savings app Spring, leaving billions of pounds sitting idle while inflation steadily erodes their value.
Spring’s analysis found that 1.04 million current accounts contain balances of more than £50,000 while paying no interest. Together, these accounts held £116 billion at the end of March 2026. Among these zero interest accounts, the average balance stood at £111,537.
More broadly, 91.2 million current accounts were in credit in March 2026. Of those, 79.7 million1,
equivalent to 87%, paid no interest on balances. Across all current accounts receiving no interest, the average in-credit balance stood at £4,055, with £323 billion sitting in accounts paying no interest overall.
Spring’s survey of 2,000 adults suggests many UK savers are still failing to make the most of their money, often due to a mix of habit, uncertainty and confusion. More than a third of respondents (36%) said they keep their savings with an account provided by their main current account provider, while 21% admitted to keeping their savings in their current account itself. Just over a quarter (27%) said they had placed their savings with a separate provider.
Spring Head of Money Derek Sprawling said:
“Many savers may not realise just how much they could be missing out on by leaving larger sums in a current account that pays no interest. Often, it comes down to convenience or habit, but with balances of £50,000 or more, the missed returns can be significant.
“This is a reminder to check where your money is held and whether it could be working harder in a competitive savings account. There’s no need to compromise on access to receive a fair rate of return.”
Built using Open Banking technology, Spring connects to a customer’s existing current account in seconds. It provides a genuine easy access savings account, enabling seamless transfers between accounts, while allowing customers to withdraw money when they need it. Spring puts users in full control of their savings and offers features such as savings pots, all without the need to switch banks. It serves as a helpful savings companion, building better savings habits and making money work harder.
Download Spring today – your helpful savings companion
Spring is a new savings app, but it is much more than that. It’s a helpful savings companion that enables customers to earn more interest on their everyday money. Spring is so easy to use. Simply download the app, connect it to your current account and see your money grow.
Open Banking connects the app to a customer’s current account, enabling the seamless movement of money between the two. There are no withdrawal limits or fees, and 24/7 app support with help tools, backed by a UK customer service team. Customers can apply in minutes.
Effortless saving
Open a Spring Easy Saver Cash ISA today. The Spring app uses open banking to connect to your current account, making saving seamless and simple.
To get started, download the app.
Notes to editors
- CACI’s Current Account & Savings Database (CSDB), Stock at March 2026. Current Account month end balances.
- Based on Censuswide survey of 2,000 nationally representative adults between 29.09.25 and 01.10.25
Contact us
For press and media enquiries, please email media@spring-savings.co.uk
