More than 6.5 million current accounts in the UK with balances exceeding £10,000 are earning no interest, according to analysis by savings app Spring. The figures reveal that £230 billion is sitting in accounts offering zero return, despite higher savings rates being readily available.
The data shows that 340,000 accounts hold over £100,000 without earning a penny in interest. The average balance among zero-interest accounts with more than £10,000 stands at £35,428. In total, £324.8 billion is held in current accounts paying no interest, while an additional £71.3 billion is in savings accounts earning 1% or less.
Of 86.3 million current accounts in credit as of November 2025, 75.5 million (87%) paid nothing on balances. The average balance across all non-interest-paying accounts was £4,300. With inflation eroding spending power, money in low-interest accounts is effectively diminishing in real terms.
Spring's study of 2,000 adults found that many savers are not optimising returns due to habit, apprehension, or bewilderment. Over a third (36%) maintain savings with their primary current account provider, while 21% keep savings in their current account. Only 27% have chosen a different provider.
Derek Sprawling, Head of Money at Spring, said: "It's staggering that over six and a half million current accounts hold over £10,000 and are earning absolutely nothing... This isn't about people being careless... But in a higher-rate environment, doing nothing can be incredibly costly."
