Half of Brits haven’t switched their savings accounts in the last five years, leaving them with ‘miserable’ rates of interest, data from Hargreaves Lansdown suggested.
The investment giant says there is £267.8 billion collecting dust in accounts that pay no interest at all.
This calculation is based on a rate of 2.75 per cent in an easy access account, and means savers are missing out on over £7.4 billion a year in interest.
