{"id":781612,"date":"2026-09-25T00:08:10","date_gmt":"2026-09-25T00:08:10","guid":{"rendered":"https:\/\/www.newsbeep.com\/uk\/781612\/"},"modified":"2026-09-25T00:08:10","modified_gmt":"2026-09-25T00:08:10","slug":"savings-warning-britons-with-10000-in-the-bank-urged-to-act-now-or-risk-losing-more-than-300","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/uk\/781612\/","title":{"rendered":"Savings warning: Britons with \u00a310,000 in the bank urged to act now or risk losing more than \u00a3300"},"content":{"rendered":"

Britons with \u00a310,000 in the bank are being urged to check where their savings are held, as leaving cash in a poor-paying account could cost them hundreds of pounds.<\/p>\n

Some of Britain’s biggest banks are paying savers as little as 0.75 per cent, while the best building society accounts are offering rates of up to 4.50 per cent.<\/p>\n

The difference in rates can add up to hundreds of pounds over the course of a year.<\/p>\n

Someone with \u00a310,000 in an average big-bank easy-access account would earn just \u00a3116 in interest after 12 months. The same \u00a310,000 in a leading building society account would earn \u00a3422, according to figures from Moneyfactscompare.co.uk.<\/p>\n

That is an extra \u00a3306 simply for moving the money to a better-paying account, without having to save a penny more.<\/p>\n

And savers who stick with a low-paying account are not just missing out on interest. With inflation currently at 3.1 per cent, rising prices are also eating away at what their money can buy.<\/p>\n

For someone with \u00a310,000 in a typical big-bank account, the value of their savings would fall by \u00a3194 once inflation is taken into account. Someone earning a leading building society rate, however, would still be \u00a3112 better off after inflation.<\/p>\n

It shows just how much difference the account a saver chooses can make, with some of Britain’s biggest high street banks paying considerably less than the best rates available elsewhere.<\/p>\n

Caitlyn Eastell, personal finance analyst at Moneyfactscompare.co.uk, said: “Savers could be missing out on hundreds of pounds simply by leaving their cash in a lower-paying account.<\/p>\n

“UK Savings Week is a great opportunity for savers to review where their money is held, because the difference between savings rates can have a significant impact on returns over time.”<\/p>\n

Ms Eastell said boosting returns does not necessarily mean households need to find more money to save each month. Simply moving existing savings to a more competitive account could make a significant difference.<\/p>\n

She said: “At a time when households are under pressure, improving savings outcomes is not always about putting more money away each month. It can be about saving smarter by making sure their cash is earning a competitive rate.” <\/p>\n

\"Barclays\"\/<\/p>\n

Barclays currently pays one per cent on its Everyday Saver<\/p>\n

| GETTY<\/p>\n

Barclays currently pays one per cent on its Everyday Saver, while HSBC offers 1.04 per cent through its Flexible Saver.<\/p>\n

Lloyds Bank pays just 0.75 per cent on its Easy Saver, the lowest of the five major banks analysed, while NatWest’s Flexible Saver pays one per cent.<\/p>\n

Santander offers the highest rate among the five, with its Easy Access Saver paying two per cent.<\/p>\n

Savers prepared to look at building societies can find considerably higher rates. Saffron Building Society’s Online Bonus Saver Issue 2 leads the way at 4.50 per cent, followed by Nottingham Building Society at 4.25 per cent.<\/p>\n

Leeds Building Society pays 4.20 per cent, while Family Building Society offers 4.15 per cent. Saffron’s Enviro Saver Account completes the top five with a rate of four per cent.<\/p>\n

\"Couple<\/p>\n

Someone leaving \u00a310,000 for a year in an average big bank easy access account would earn just \u00a3116 in interest<\/p>\n

| <\/p>\n

GETTY<\/p>\n

Ms Eastell pointed to figures showing that building societies paid savers an additional \u00a32.1billion in interest during 2025 compared with what they would have received from the average rates offered by the largest banks.<\/p>\n

The warning is particularly important for savers who have left their money in the same account without checking whether the rate remains competitive. <\/p>\n

With inflation at 3.1 per cent, a low-paying account can mean that even though the cash balance is growing through interest, what that money can actually buy is falling.<\/p>\n

Ms Eastell urged savers to regularly check what rates are available across the entire market rather than assuming their current deal remains competitive. <\/p>\n

\"Cash\"\/<\/p>\n

The average easy access rate across the market currently stands at 2.55 per cent<\/p>\n

| <\/p>\n

GETTY<\/p>\n

“Just because a balance is growing on paper, it doesn’t always mean savers are better off in real terms,” she said.<\/p>\n

Her advice was clear: anyone discovering their savings are not being properly rewarded should move their money to a better-paying account without delay.<\/p>\n

The average easy access rate across the market currently stands at 2.55 per cent, which would return \u00a3255 on a \u00a310,000 balance over a year. Even that figure leaves savers \u00a355 worse off in real terms after inflation.<\/p>\n

For households already feeling the squeeze, the message from this week’s analysis is straightforward. <\/p>\n

Earning more from savings does not always require putting extra cash aside. It can simply mean choosing a provider that pays a fair rate.<\/p>\n","protected":false},"excerpt":{"rendered":"Britons with \u00a310,000 in the bank are being urged to check where their savings are held, as leaving…\n","protected":false},"author":2,"featured_media":781613,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[84,59,814,2222,3668,2331,56,54,55],"class_list":["post-781612","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business","tag-gb","tag-interest-rates","tag-money","tag-savings","tag-sgg","tag-uk","tag-united-kingdom","tag-unitedkingdom"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/781612","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=781612"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/781612\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/781613"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=781612"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=781612"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=781612"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}