A major building society has urged savers to make a small change, which it says could add £180 to their finances each year. Analysis by Skipton Building Society (SBS) of data from leading consumer and market analysis firm CACI from January 2026 showed that in the UK, 80 million savings accounts with a 0% interest rate have a combined £327 billion in them.
That represents an approximate average of £4,075 a year across each account. SBS suggests that simply moving those savings to a top-paying account can make a noticeable difference, with £180 extra saved over the course of a year on average at today’s leading rates.
SBS highlighted that money can feel particularly tight in May, with two busy bank holidays falling just four weeks apart.
But it says moving those savings could set you on the road to significantly boosting your nest egg by May 31. According to the firm, savers who act before May 4 could receive an average of £14 a month in interest at today’s leading rates.
Alex Sitaras, head of savings at Skipton Building Society, explained what savers should do to make their money work harder after the Consumer Prices Index (CPI), effectively the UK’s benchmark for the rising cost of living, increased by 3.3%
“A zero-interest account may feel risk-free, but with inflation rising, it actually guarantees a loss of spending power,” he explained.
“In a fast-changing economic environment, it’s also important to regularly review your savings options.
“In 2025, 12% of account holders only checked their accounts yearly to make sure they were getting the best rates.
“What worked in the past might not reflect what you need now, and a quick review of the different types of ISAs available can help ensure you’re getting the most out of your allowance.”