What nearly half of savers might be missing
22 September 2025
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With savings habits under the spotlight, now could be a good time to consider whether your money is in the right place to support your goals.
Our research* shows that nearly half (46%) of UK savers are still keeping their savings in a current account - a choice that is unlikely to offer the most potential for growth over time.
While current accounts are familiar and convenient, there may be other options that offer stronger returns without compromising on flexibility. This article outlines some of the key findings from our research - and the simple steps you can take to help your savings work harder.
"Nearly half (46%) of UK savers are still keeping their savings in a current account."
Many people value the flexibility of being able to access their money easily. But with recent changes in interest rates, it could be worth checking whether your current account is still the best fit for your savings needs.
Nearly one in three savers have already moved their money from one account to another since June 2024, with 44% of those citing better interest rates as a top reason for switching.
If you’ve been with the same account for a while, it may be time to check whether your current rate still works for you - especially if your money is sitting in a current account that pays little or no interest.
An easy access savings account can provide a useful balance of flexibility and return - particularly for everyday goals, short-term planning, or a financial safety net.
Our research found that 34% of savers currently use an easy access savings account. At Marcus, the Online Savings Account is one of our most popular products for a reason - offering competitive interest rates without restrictions, and the ability to access your money when you need it.
Choosing the right savings account allows you to tap into compound interest, which is where your money really starts to work harder for you.
"34% of savers currently use an easy access savings account."
For savers with longer-term plans or more defined goals, other types of savings products may be worth considering.
Our research shows that while 81% of savers feel confident using current accounts, only 63% say they feel knowledgeable about fixed-rate savings accounts. That gap suggests many people could benefit from understanding how these accounts work and where they might fit into a broader savings plan.
Cash ISAs can also be a practical and effective option if you’re looking to earn interest tax-free, especially if you’re close to reaching your Personal Savings Allowance. Uptake remains relatively low, with just 20% of savers currently using an easy access cash ISA and 16% using a fixed-rate cash ISA. And for those who don’t need immediate access to their money, fixed-rate accounts can offer higher interest in exchange for locking in your savings for a set period, providing certainty over your returns.
Interest rates are regularly on the move, and recent shifts highlight why it’s important to keep an eye on your savings options. Even small changes can make a big difference to the returns you earn.
While 68% of savers are aware of this change, not all have taken action. Just around a quarter (27%) say they’ve started shopping around for better rates as a direct result of these cuts, while 15% say they’ve taken no action, even as more competitive returns have become available.
Even small adjustments - like moving funds from a current account to a savings account - can help support your longer-term plans.
"Even small adjustments - like moving funds from a current account to a savings account - can help support your longer-term plans."
Everyone’s financial journey is different. That’s why it helps to match your savings choices to your stage of life. If you’re focused on building savings, you could consider the long-term benefits of compounding, tax efficiency, and reviewing rates regularly. If, on the other hand, you’re focused on protecting what you’ve built, you may prioritise security, accessibility, and shielding your savings from tax. In both cases, reviewing your accounts regularly - or when your circumstances change - can help ensure you’re still on track.
Learn more about Marcus savings accounts here.
The message from our research is clear: people could be earning more from their savings – and be more active in finding the right home for their money.
Whether you’re just starting out or fine-tuning your financial future, small steps today can help lead to a stronger tomorrow.
* Research conducted by Opinium amongst 2,000 UK adults between 20th and 23rd June 2025
| Savings interest rate (AER)(1) |
Savings Balance Before Paying Tax | |
| Basic rate taxpayer | Higher rate taxpayer |
|
|---|---|---|
| 1% | £100,000 | £50,000 |
| 2% | £50,000 | £25,000 |
| 3% | £33,333 | £16,667 |
| 4% | £25,000 | £12,500 |
| 5% | £20,000 | £10,000 |
The content in this article is for information only and is not advice. All content in this article was accurate on the date of publication shown above.
The content in this article is for information only and is not advice. All content in this article was accurate on the date of publication shown above.
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