Figures in this article come from the sources named in each sentence, captured on the dates given. Savings rates change often, so check providers' own pages for current terms. This article doesn't cover the whole market.

According to Bank of England data (series LPMZOD3, non-interest-bearing sight deposits from individuals, not seasonally adjusted), £283.2 billion was held in UK accounts paying no interest in July 2026.

What this figure covers

Sight deposits are balances that can be withdrawn on demand. Non-interest-bearing sight deposits are mostly current account balances, not savings accounts. Some of this money is everyday cash for bills and spending.

How savings rates compare with inflation

Consumer prices index (CPI) inflation was 3.1% in the 12 months to August 2026 (ONS, published 16 September 2026).

The Bank of England's average quoted instant-access (aka easy access) rate for households was about 2.07% in August 2026. Moneyfacts reported an average easy access rate of 2.53% and an average one-year fixed rate of 4.28% (published 10 September 2026). Before tax, both average easy access rates were below CPI inflation, and the average one-year fixed rate was above it.

At its latest decision on 5 November 2026, the Bank of England raised the Bank Rate from 3.75% to 4%. The next decision is due on 17 December 2026. The Bank Rate isn’t the rate you’ll get on products like a credit card, mortgage or savings account, but it influences them.

Snapshot of top rates

Based on rates published on Moneyfactscompare on 24 September 2026, the highest rates listed were:

• 5.00% for easy access (including a bonus)

• 4.37% for a 90-day notice account

• 5.06% for a one-year fixed account

• 8% for a regular saver (variable, for existing customers)

This reflects providers listed on that site on that date and may not capture the whole market. Regular savers limit how much you can pay in each month, and some top rates include temporary bonuses or need an existing account with the provider.

Protection and tax

Eligible deposits are protected by the FSCS up to £120,000 per person, per authorised bank or building society (brands sharing a banking licence share one limit). Interest may be taxable above your Personal Savings Allowance: £1,000 for basic-rate taxpayers, £500 for higher-rate taxpayers and £0 for additional-rate taxpayers.

ClearScore doesn't give financial advice. This article doesn't cover every account on the market, and other products not mentioned here may suit some people better.

• Average Household Savings & Wealth UK

• Savings accounts guide