Savers Miss Out on £30bn of Income

UK consumers have record amounts in cash savings accounts, but Janus Henderson warns that cash rates are at a 30-year low

David Brenchley 5 March, 2018 | 1:58PM

British sterling pounds, cash ISA, stocks and shares ISA, savings account

Cash deposits from UK savers reached a record high in 2017, but consumers are missing out on more than £30 billion in income per year, according to research from Janus Henderson Investors.

Despite £1.32 trillion being tied up in cash savings vehicles – such as cash ISAs, current accounts and easy-access accounts – stepstoinvesting.com, a first-time investor website run by the investment trust team at Janus Henderson, found the interest earned by those accounts fell to a low not seen in more than 30 years.

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David Brenchley

David Brenchley  is a Reporter for Morningstar.co.uk

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