UK Deposit and Savings Accounts Market Report 2026

Household deposits in the UK reached £2.19 trillion in early 2026, growing 4.3% even as inflation persists above the Bank of England target. Global uncertainty and the potential for increasing inflation caused by rising fuel prices means 26% of savers expect to increase emergency savings pots, including 25% of those who already have cash savings above £20k.

Prolonged above-target inflation continues to erode real returns on savings, fuelling a flight to safety through guaranteed and instant-access options. This environment amplifies pressure on providers to compete not only on headline rates and incentives, but also to deliver reassurance, access and clarity amid consumer uncertainty.

Rates are a core focus for consumers, and even more so when uncertainty is high and inflation likely to increase later in the year. However, there are opportunities to appeal beyond rates alone, accessibility, flexibility and transparency all play an important role in deciding where to keep cash savings in uncertain times. There is also an ongoing opportunity around ethical saving, but many who want to engage in more ethical choices still find it difficult to know whether an account is ethical or not.

This Report Looks at the Following Areas:

• Deposit growth trajectory and drivers to 2030
• Impact of wider economic changes on UK savings habits
• The impact of regulatory changes to ISA limits and savings taxation
• A look at how consumer saving habits are diverging
• The factors that consumers prioritise when looking for where to store their money
• How digital tools are shaping saving habits
• Barrier-vs-potential for ethical savings propositions
• A look at innovations and competitive strategies in the market over the past year

Market Definitions

For the purposes of this Report, Mintel has used the following definitions:

• Deposits and savings accounts are interest-bearing accounts provided by banks, building societies and other financial providers. There are various types, of which the main ones are:
• Instant or easy-access account – the most widely available and commonly held, this type of account does not impose any restrictions on making withdrawals and provides either a variable interest rate or a fixed/guaranteed interest rate for an introductory period.
• Limited-access account – the account holder can only make a certain number of withdrawals per year.
• Notice account – this is where the account holder must give a certain number of days’ notice before making a withdrawal so as not to lose any interest.
• Fixed-term account or bond – offers a fixed rate for a fixed term, usually between one and five years (may also be referred to as a fixed-rate or fixed-interest account).
• Regular savings account – where the account holder is required to make regular monthly payments (usually ranging from £25 to £250 or £500 a month) in return for a higher interest rate.