- Savings balances earning 1% or less increased by over £67 billion during 2025
- The number of accounts earning 1% or less has increased by 2,340%
- £47bn billion is held in accounts earning less than 1% with balances of £10,000 or more
The amount of money held in adult instant access savings accounts earning 1% or below soared by £67 billion between the end of January and end of December last year, according to analysis by savings app Spring.
Spring’s analysis of CACI data revealed that £69.9 billion is currently earning 1% or less in adult instant access accounts as of December 2025, rising from just £2.9 billion at the end of January as product rates on instant access accounts decreased throughout 2025.
The number of accounts earning 1% or less also increased dramatically by 1,303%, from just 1.6 million in January to 22 million in December.
The average balance held in accounts earning 1% or less is £3,133, and the majority of balances, £47bn, are held in accounts with balances of more than £10,000, leaving huge amounts of money earning next to nothing.
The period from June to July 2025 saw the biggest increase in balances, as they tripled from £9 billion to £30 billion in just one month, as providers with low‑paying accounts reduced rates even further. The number of accounts also increased sharply between June and July, rising from 3.8 million to 7.9 million.
Spring Head of Money Derek Sprawling said:
“These figures lay bare just how much of the nation’s savings is being quietly eroded. Nearly £70 billion sitting in savings accounts paying 1% or less is an extraordinary amount of money to be earning next to nothing, especially when many households are working hard to make their cash stretch further.
“The sharp increase seen during the summer demonstrates how quickly savers can be left behind when their current account providers reduce rates. Furthermore, the data does not reflect the cuts made by some of the largest banks in early 2026 following December’s Bank Base Rate decrease.”
He added: “You don’t have to settle for lower rates just to keep your money accessible – a factor that keeps many people from switching. Opting for a savings app that offers better rates and instant transfers could allow savers to accumulate hundreds, or even thousands, of pounds over time.”
Download Spring today – your helpful savings companion
Spring’s app, built using Open Banking technology, connects seamlessly to customers’ existing current accounts, providing genuine easy access with a competitive rate of 3.82% AER. With no withdrawal limits or fees, and 24/7 UK‑based support, Spring empowers users to take control of their savings and build better financial habits.
Spring is available for download on both iOS and Android via the Apple App Store and in Google Play, and customers can apply for an account via the app in minutes.
Effortless saving
Open a Spring Easy Saver 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
1. CACI’s Current Account & Savings Database (CSDB), stock at December 2025. Savings account month‑end balances, adult Instant Access accounts ISA and Non-ISA.
Contact us
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