The average interest rate of instant access deposits in the United Kingdom (UK) has started declining in the second half of 2024. That was after the interest rates of those products soared in 2022 and 2023, reaching 2.82 percent in January 2024. In contrast, the interest rate of instant access deposits amounted to 0.06 percent in April 2021.

The gross national savings rate in the United Kingdom was forecast to continuously increase between 2024 and 2029 by in total 0.5 percentage points. The savings rate is estimated to amount to 14.81 percent in 2029. The savings rate here refers to the gross domestic saving by the state, private households, and corporations and is shown as a percentage of total gross domestic product (GDP).The shown data are an excerpt of Statista's Key Market Indicators (KMI). The KMI are a collection of primary and secondary indicators on the macro-economic, demographic and technological environment in more than 150 countries and regions worldwide. All input data are sourced from international institutions, national statistical offices, and trade associations. All data has been are processed to generate comparable datasets (see supplementary notes under details for more information).

Key information about UK Gross Savings Rate

• UK Gross Savings Rate was measured at 16.4% in Sep 2024, compared with 16.4% in the previous quarter.
• UK Gross Savings Rate is updated quarterly, with data available from Mar 1955 to Sep 2024, and an average rate of 16.4%.
• The data reached an all-time high of 16.4% in Mar 1973 and a record low of 12.7% in Jun 2009.
• CEIC calculates Gross Domestic Savings Rate from quarterly Gross Domestic Savings and quarterly Nominal GDP. Gross Domestic Savings is calculated as Nominal GDP less Final Consumption Expenditure. Final Consumption Expenditure is calculated as the sum of Household, NPISHs and Government Expenditure. Office for National Statistics provides Final Consumption Expenditure in local currency and Nominal GDP in local currency.
• In the latest reports, UK GDP expanded 0.2% YoY in Mar 2023.
• UK Nominal GDP reached 786,411.4 USD mn in Mar 2023. Its GDP deflator (implicit price deflator) increased 6.6% in Dec 2022.
• UK GDP Per Capita reached 45,308.8 USD in Dec 2022.

This dataset provides values for PERSONAL SAVINGS reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

In December 2024, the personal saving rate in the United States amounted to 3.8 percent. That was slightly lower figure than a year earlier. The personal saving rate is calculated as the ratio of personal savings to disposable personal income. Within the topic of personal savings in the U.S., there are different goals and reasons for saving. What are personal savings? Saving refers to strategies of accumulating capital for future use by either not spending a part of one’s income or cutting down on certain costs. Saved money may be preserved as cash, put on a deposit account, or invested in various financial instruments. Investing usually incorporates some level of risk which means that part of the invested money can be gone. An example of a relatively safe investment would be saving bonds, such as the debt securities issued by the U.S. Department of the Treasury. Saving trends in the U.S. and abroad Looking at the personal saving rate in the United States throughout the past decades, it can be observed that savings had been decreasing until the mid-2000s, and they increased after the 2008 financial crisis. Still, the largest savings rates were reached in 2020 and 2021. The reason for that increase in the savings rate that year might be related to the measures to contain the COVID-19 pandemic. The value of personal savings in the United Kingdom has also followed a similar trend. Although events like the COVID-19 pandemic may have affect many countries in a similar way, the ability to save, as well as the average savings as a share of personal income across countries can vary significantly depending on multiple factors affecting each territory.

The benchmark interest rate in the United Kingdom was last recorded at 4.50 percent. This dataset provides - United Kingdom Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Over a quarter of households in the United Kingdom (UK) had less than 1,500 British pounds in savings and investments in the financial year of 2021/22. Meanwhile, a fifth of all households had at least 30,000 British pounds saved up, a percentage that has not changed since 2020/21. In 2021/22, Northern Ireland was one of the regions in the United Kingdom with the lowest ownership rate of ISAs and other savings accounts.

Key information about United Kingdom Long Term Interest Rate

• United Kingdom Long Term Interest Rate: Month Avg: United Kingdom: ECB Harmonised was reported at 4.52 % pa in Feb 2025, compared with 4.67 % pa in the previous month.
• UK Long Term Interest Rate data is updated monthly, available from Jan 1993 to Feb 2025.
• The data reached an all-time high of 8.99 % pa in Sep 1994 and a record low of 0.15 % pa in Jul 2020.
• Long Term Interest Rate is reported by reported by CEIC Data.

The European Central Bank provides monthly Harmonised Long Term Interest Rate. The data reflects primary market yields.


Related information about United Kingdom Long Term Interest Rate

• In the latest reports, UK Short Term Interest Rate: Month End: ICE LIBOR: 3 Months was reported at 0.09 % pa in Apr 2021.
• The cash rate (Policy Rate: Month End: Base Rate) was set at 4.50 % pa in Feb 2025.
• UK Exchange Rate against USD averaged 0.79 (USD/GBP) in Jun 2023.

Key information about EU Gross Savings Rate

• EU Gross Savings Rate was measured at 25.7% in Dec 2024, compared with 25.7% in the previous quarter.
• EU Gross Savings Rate is updated quarterly, with data available from Mar 1995 to Dec 2024, and an average rate of 25.7%.
• The data reached an all-time high of 25.7% in Mar 2021 and a record low of 21.4% in Mar 2010.
• CEIC calculates Gross Domestic Savings Rate from quarterly Gross Domestic Savings and quarterly Nominal GDP. Gross Domestic Savings is calculated as Nominal GDP less Final Consumption Expenditure. Eurostat provides Final Consumption Expenditure in local currency and Nominal GDP in local currency. European Union stands for EU27 excluding UK.
• In the latest reports, EU GDP expanded 1.0% YoY in Mar 2023.
• EU Nominal GDP reached 4,430,431.2 USD mn in Mar 2023. Its GDP deflator (implicit price deflator) increased 6.5% in Mar 2023.
• EU GDP Per Capita reached 38,468.8 USD in Dec 2021.

As of December 2024, the average interest rate of one year fixed-rate cash ISA deposits in the United Kingdom was slightly higher than that of two-year fixed rate deposits. The interest rate of both types of deposits increased significantly between 2021 and 2023.

This dataset provides values for INTEREST RATE reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

In 2022, 45 percent of adults with a savings account had only one of those products in the United Kingdom (UK). That referred to credit union savings accounts, cash ISAs, or NS&I bonds. A further 44 percent of UK adults held two to four saving accounts.

August 2024 marked a significant shift in the UK's monetary policy, as it saw the first reduction in the official bank base interest rate since August 2023. This change came after a period of consistent rate hikes that began in late 2021. In a bid to minimize the economic effects of the COVID-19 pandemic, the Bank of England cut the official bank base rate in March 2020 to a record low of 0.1 percent. This historic low came just one week after the Bank of England cut rates from 0.75 percent to 0.25 percent in a bid to prevent mass job cuts in the United Kingdom. It remained at 0.1 percent until December 2021 and was increased to one percent in May 2022 and to 2.25 percent in October 2022. After that, the bank rate increased almost on a monthly basis, reaching 5.25 percent in August 2023. It wasn't until August 2024 that the first rate decrease since the previous year occurred, signaling a potential shift in monetary policy. Why do central banks adjust interest rates? Central banks, including the Bank of England, adjust interest rates to manage economic stability and control inflation. Their strategies involve a delicate balance between two main approaches. When central banks raise interest rates, their goal is to cool down an overheated economy. Higher rates curb excessive spending and borrowing, which helps to prevent runaway inflation. This approach is typically used when the economy is growing too quickly or when inflation is rising above desired levels. Conversely, when central banks lower interest rates, they aim to encourage borrowing and investment. This strategy is employed to stimulate economic growth during periods of slowdown or recession. Lower rates make it cheaper for businesses and individuals to borrow money, which can lead to increased spending and investment. This dual approach allows central banks to maintain a balance between promoting growth and controlling inflation, ensuring long-term economic stability. Additionally, adjusting interest rates can influence currency values, impacting international trade and investment flows, further underscoring their critical role in a nation's economic health. Recent interest rate trends Between 2021 and 2024, most advanced and emerging economies experienced a period of regular interest rate hikes. This trend was driven by several factors, including persistent supply chain disruptions, high energy prices, and robust demand pressures. These elements combined to create significant inflationary trends, prompting central banks to raise rates in an effort to temper spending and borrowing. However, in 2024, a shift began to occur in global monetary policy. The European Central Bank (ECB) was among the first major central banks to reverse this trend by cutting interest rates. This move signaled a change in approach aimed at addressing growing economic slowdowns and supporting growth.

Abstract copyright UK Data Service and data collection copyright owner.The Family Resources Survey (FRS) has been running continuously since 1992 to meet the information needs of the Department for Work and Pensions (DWP). It is almost wholly funded by DWP. The FRS collects information from a large, and representative sample of private households in the United Kingdom (prior to 2002, it covered Great Britain only). The interview year runs from April to March.The focus of the survey is on income, and how much comes from the many possible sources (such as employee earnings, self-employed earnings or profits from businesses, and dividends; individual pensions; state benefits, including Universal Credit and the State Pension; and other sources such as savings and investments). Specific items of expenditure, such as rent or mortgage, Council Tax and water bills, are also covered.Many other topics are covered and the dataset has a very wide range of personal characteristics, at the adult or child, family and then household levels. These include education, caring, childcare and disability. The dataset also captures material deprivation, household food security and (new for 2021/22) household food bank usage. The FRS is a national statistic whose results are published on the gov.uk website. It is also possible to create your own tables from FRS data, using DWP’s Stat Xplore tool. Further information can be found on the gov.uk Family Resources Survey webpage. Safe Room Access FRS data In addition to the standard End User Licence (EUL) version, Safe Room access datasets, containing unrounded data and additional variables, are also available for FRS from 2005/06 onwards - see SN 7196, where the extra contents are listed. The Safe Room version also includes secure access versions of the Households Below Average Income (HBAI) and Pensioners' Incomes (PI) datasets. The Safe Room access data are currently only available to UK HE/FE applicants and for access at the UK Data Archive's Safe Room at the University of Essex, Colchester. Prospective users of the Safe Room access version of the FRS/HBAI/PI will need to fulfil additional requirements beyond those associated with the EUL datasets. Full details of the application requirements are available from Guidance on applying for the Family Resources Survey: Secure Access.FRS, HBAI and PIThe FRS underpins the related Households Below Average Income (HBAI) dataset, which focuses on poverty in the UK, and the related Pensioners' Incomes (PI) dataset. The EUL versions of HBAI and PI are held under SNs 5828 and 8503 respectively. The secure access versions are held within the Safe Room FRS study under SN 7196 (see above). The FRS aims to: support the monitoring of the social security programme; support the costing and modelling of changes to national insurance contributions and social security benefits; provide better information for the forecasting of benefit expenditure. From April 2002, the FRS was extended to include Northern Ireland. Detailed information regarding anonymisation within the FRS can be found in the anonymised variables volume of the dataset documentation. For the second edition (October 2014) the data have been re-grossed following revision of the FRS grossing methodology to take account of the 2011 Census mid-year population estimates. New variable GROSS4 has been added to the dataset. Main Topics: Household characteristics (composition, tenure type); tenure and housing costs including Council Tax, mortgages, insurance, water and sewage rates; school milk and meals; educational grants and loans; children in education; informal care (given and received); childcare; occupation and employment; health restrictions on work; children's health; wage details; self-employed earnings; personal and occupational pension schemes; income and benefit receipt; income from pensions and trusts, royalties and allowances, maintenance and other sources; income tax payments and refunds; National Insurance contributions; earnings from odd jobs; children's earnings; interest and dividends; investments; National Savings products; assets. Standard Measures Standard Occupational Classification Multi-stage stratified random sample Face-to-face interview Computer Assisted Personal Interviewing 2007 2008 ABSENTEEISM ACADEMIC ACHIEVEMENT ADMINISTRATIVE AREAS AGE APARTMENTS APPLICATION FOR EMP... APPOINTMENT TO JOB ATTITUDES BANK ACCOUNTS BEDROOMS BONDS BUILDING SOCIETY AC... BUSES BUSINESS RECORDS CARE OF DEPENDANTS CARE OF THE DISABLED CARE OF THE ELDERLY CHARITABLE ORGANIZA... CHILD BENEFITS CHILD CARE CHILD DAY CARE CHILD MINDERS CHILD MINDING CHILD SUPPORT PAYMENTS CHILD WORKERS CHILDREN CHRONIC ILLNESS CIVIL PARTNERSHIPS COHABITATION COLOUR TELEVISION R... COMMERCIAL BUILDINGS COMMUTING CONCESSIONARY TELEV... CONSUMPTION COST OF LIVING COSTS COUNCIL TAX CREDIT UNIONS Consumption and con... DAY NURSERIES DEBILITATIVE ILLNESS DEBTS DISABILITIES DISABILITY DISCRIMI... DISABLED CHILDREN DISABLED PERSONS DOMESTIC RESPONSIBI... ECONOMIC ACTIVITY ECONOMIC VALUE EDUCATION EDUCATIONAL BACKGROUND EDUCATIONAL FEES EDUCATIONAL GRANTS EDUCATIONAL INSTITU... EDUCATIONAL VOUCHERS ELDERLY EMPLOYEES EMPLOYMENT EMPLOYMENT HISTORY EMPLOYMENT PROGRAMMES ENDOWMENT ASSURANCE ETHNIC GROUPS EXPENDITURE EXTRACURRICULAR ACT... FAMILIES FAMILY MEMBERS FINANCIAL DIFFICULTIES FINANCIAL INSTITUTIONS FINANCIAL RESOURCES FINANCIAL SUPPORT FOOD FREE SCHOOL MEALS FRIENDS FRINGE BENEFITS FULL TIME EMPLOYMENT FURNISHED ACCOMMODA... FURTHER EDUCATION Family life and mar... GENDER GIFTS GRANDPARENTS GRANTS HEADS OF HOUSEHOLD HEALTH HEALTH SERVICES HEARING IMPAIRED PE... HEARING IMPAIRMENTS HIGHER EDUCATION HOLIDAY LEAVE HOME BASED WORK HOME OWNERSHIP HOME SHARING HOURS OF WORK HOUSEHOLD BUDGETS HOUSEHOLD HEAD S OC... HOUSEHOLD INCOME HOUSEHOLDS HOUSING HOUSING FACILITIES HOUSING FINANCE HOUSING TENURE INCOME INCOME TAX INDUSTRIES INSURANCE INSURANCE PREMIUMS INTEREST FINANCE INVESTMENT INVESTMENT RETURN Income JOB DESCRIPTION JOB HUNTING JOB SEEKER S ALLOWANCE LANDLORDS LEAVE LOANS LODGERS LOW PAY MANAGERS MARITAL STATUS MARRIED WOMEN MARRIED WOMEN WORKERS MATERNITY LEAVE MATERNITY PAY MEDICAL PRESCRIPTIONS MORTGAGE PROTECTION... MORTGAGES MOTORCYCLES NEIGHBOURS Northern Ireland OCCUPATIONAL PENSIONS OCCUPATIONAL QUALIF... OCCUPATIONS ONE PARENT FAMILIES ONLINE BANKING OVERTIME PARENTS PART TIME COURSES PART TIME EMPLOYMENT PARTNERSHIPS BUSINESS PASSENGERS PATERNITY LEAVE PENSION CONTRIBUTIONS PENSIONS PHYSICALLY DISABLED... PHYSICIANS POVERTY PRIVATE EDUCATION PRIVATE PERSONAL PE... PRIVATE SCHOOLS PROFITS QUALIFICATIONS RATES REBATES REDUNDANCY REDUNDANCY PAY REMOTE BANKING RENTED ACCOMMODATION RENTS RESIDENTIAL MOBILITY RETIREMENT ROOM SHARING ROOMS ROYALTIES SAVINGS SAVINGS ACCOUNTS AN... SCHOLARSHIPS SCHOOL MILK PROVISION SCHOOLCHILDREN SCHOOLS SEASONAL EMPLOYMENT SECONDARY EDUCATION SECONDARY SCHOOLS SELF EMPLOYED SEWAGE DISPOSAL AND... SHARES SHIFT WORK SICK LEAVE SICK PAY SICK PERSONS SOCIAL CLASS SOCIAL HOUSING SOCIAL SECURITY SOCIAL SECURITY BEN... SOCIAL SECURITY CON... SOCIAL SERVICES SOCIAL SUPPORT SOCIO ECONOMIC INDI... SOCIO ECONOMIC STATUS SPECIAL EDUCATION SPOUSES STATE EDUCATION STATE HEALTH SERVICES STATE RETIREMENT PE... STUDENT HOUSING STUDENT LOANS STUDENTS STUDY SUBSIDIARY EMPLOYMENT SUPERVISORS SUPERVISORY STATUS Social stratificati... TAXATION TELEPHONES TELEVISION LICENCES TELEVISION RECEIVERS TEMPORARY EMPLOYMENT TENANCY AGREEMENTS TENANTS HOME PURCHA... TERMINATION OF SERVICE TIED HOUSING TIME TOP MANAGEMENT TRAINING UNEARNED INCOME UNEMPLOYED UNEMPLOYMENT BENEFITS UNFURNISHED ACCOMMO... UNWAGED WORKERS VISION IMPAIRMENTS VISUALLY IMPAIRED P... VOCATIONAL EDUCATIO... VOLUNTARY WORK WAGES WATER RATES WIDOWED WORKING MOTHERS WORKING WOMEN property and invest...

Key information about United Kingdom Investment: % of GDP

• United Kingdom Investment accounted for 18.2 % of its Nominal GDP in Sep 2024, compared with a ratio of 18.3 % in the previous quarter.
• UK investment share of Nominal GDP data is updated quarterly, available from Mar 1955 to Sep 2024, with an average ratio of 18.8 %.
• The data reached an all-time high of 26.2 % in Mar 1989 and a record low of 12.9 % in Jun 2020.

CEIC calculates Investment as % of Nominal GDP from quarterly Nominal Gross Capital Formation and quarterly Nominal GDP. Gross Capital Formation is calculated as the sum of Gross Fixed Capital Formation, Changes in Inventories and Acquisition less Disposals of Valuables. Office for National Statistics provides Nominal Gross Capital Formation in local currency and Nominal GDP in local currency.


Related information about United Kingdom Investment: % of GDP

• In the latest reports, UK GDP expanded 0.2 % YoY in Mar 2023.
• UK Nominal GDP reached 786.4 USD bn in Mar 2023.
• Its GDP deflator (implicit price deflator) increased 6.6 % in Dec 2022.
• UK GDP Per Capita reached 45,308.8 USD in Dec 2022.
• Its Gross Savings Rate was measured at 16.4 % in Sep 2024.

The savings of households in the United Kingdom as a share of their income has been increasing between 2022 and 2024. In the second quarter of 2024, UK households saved, on average, 10 percent of their income. That was, nevertheless, much lower than the savings ratio reached as of the second quarter of 2020, when it peaked at 23.9 percent. The highest value recorded throughout the period.

The value of any pension pots already accrued that are not state basic retirement or state earning related. This includes occupational pensions, personal pensions, retained rights in previous pensions and pensions in payment.

This statistic presents the average amount saved by Great Britain's adult population monthly, expressed as a percentage of average income during summer and autumn 2014, by age group. During that time the highest share of their income was saved by people over 65 in summer 2014 (making monthly savings over 9 percent of their average income). The lowest share of their income was saved by people aged 45 to 54 in summer 2014(saving 6.37 percent of their average income).

Mortgage rates increased at a record pace in 2022, with the 10-year fixed mortgage rate doubling between March 2022 and December 2022. With inflation increasing, the Bank of England introduced several bank rate hikes, resulting in higher mortgage rates. In September 2023, the average 10-year fixed rate interest rate reached 5.1 percent. As borrowing costs get higher, demand for housing is expected to decrease, leading to declining market sentiment and slower house price growth. How have the mortgage hikes affected the market? After surging in 2021, the number of residential properties sold declined in 2022, reaching close to 1.3 million. Despite the number of transactions falling, this figure was higher than the period before the COVID-10 pandemic. The falling transaction volume also impacted mortgage borrowing. Between the first quarter of 2023 and the first quarter of 2024, the value of new mortgage loans fell year-on-year for fourth straight quarters in a row. How are higher mortgages affecting homebuyers? Homeowners with a mortgage loan usually lock in a fixed rate deal for two to ten years, meaning that after this period runs out, they need to renegotiate the terms of the loan. Many of the mortgages outstanding were taken out during the period of record-low mortgage rates and have since faced notable increases in their monthly repayment. About five million homeowners are projected to see their deal expire by the end of 2026. About two million of these loans are projected to experience a monthly payment increase of up to 199 British pounds by 2026.