Over a ******* of households in the United Kingdom (UK) had less than 1,500 British pounds in savings and investments in the financial year of 2023/24. Meanwhile, ** percent of all households had at least 30,000 British pounds saved up. In 2023/24, Northern Ireland was one of the regions in the United Kingdom with the lowest ownership rate of ISAs and other savings accounts.

The value of gross savings in the United Kingdom (UK) fluctuated significantly in the past decade, reaching over ***** billion U.S. dollars in 2024. These figures refer to the total savings in the UK, and therefore it does not just refer to households. In 2020, due to the coronavirus outbreak and the measures put in place by government to fight the pandemic, households savings rate in the UK soared.

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.

Household Saving Rate in the United Kingdom decreased to 10.90 percent in the first quarter of 2025 from 12 percent in the fourth quarter of 2024. This dataset provides - United Kingdom Households Saving Ratio - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The average interest rate of instant access deposits in the United Kingdom (UK) has started declining since the second half of 2024. That was after the interest rates of those products soared in 2022 and 2023, peaking at **** percent in January 2024. In contrast, the interest rate of instant access deposits dropped to **** percent in April 2021. As of June 2025, the interest rate amounted to **** percent.

The values of any financial assets held including both formal investments, such as bank or building society current or saving accounts, investment vehicles such as Individual Savings Accounts, endowments, stocks and shares, and informal savings.

In 2024, 49 percent of adults with a savings account had two to four different providers in the United Kingdom. That referred to credit union savings accounts, cash ISAs, or NS&I bonds. Roughly 36 percent of UK adults had just a saving account with just one provider.

The savings of households in the United Kingdom as a share of their income has been increasing between 2022 and 2024. In the third quarter of 2024, UK households saved, on average, **** 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 **** percent. The highest value recorded throughout the period.

According to the results of a survey conducted in the United Kingdom (UK) in 2024, most people had some type of savings account. Overall, ** percent of UK adults had savings accounts in a bank, building society, or from the National Savings and Investments (NS&I). Cash Individuals Savings Account (ISA) and premium bonds were also quite popular.

In every region of the United Kingdom, at least ** percent of the households owned current accounts as of the financial year that ended in March 2024. Meanwhile, the ownership rate of Individual Savings Accounts (ISAs) was much lower, although it varied significantly within the UK. While ** percent of households in the South West of England had an ISA, that rate dropped to ** percent in Northern Ireland.

The United Kingdom: Savings, billion USD: The latest value from 2023 is 452.46 billion U.S. dollars, a decline from 466.06 billion U.S. dollars in 2022. In comparison, the world average is 216.52 billion U.S. dollars, based on data from 123 countries. Historically, the average for the United Kingdom from 1970 to 2023 is 239.01 billion U.S. dollars. The minimum value, 31.97 billion U.S. dollars, was reached in 1970 while the maximum of 549.61 billion U.S. dollars was recorded in 2021.

The benchmark interest rate in the United Kingdom was last recorded at 4 percent. This dataset provides - United Kingdom Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

As of June 2022, 82 percent of people in the United Kingdom advised that they had turned their lights off in an attempt to save money due to the cost of living crisis. Other actions taken include turning electrical goods on standby (70 percent), and eaten out less than usual (64 percent).

Key information about UK Public Consumption: % of GDP

• United Kingdom Public Consumption accounted for 20.8 % of its Nominal GDP in Sep 2024, compared with a share of 21.0 % in the previous quarter.
• UK Public Consumption share of Nominal GDP ratio is updated quarterly, available from Mar 1955 to Sep 2024, with an average number of 17.9 %.
• The data reached an all-time high of 25.9 % in Jun 2020 and a record low of 14.9 % in Dec 1964.

CEIC calculates Government Consumption as % of Nominal GDP from quarterly Government Consumption Expenditure and quarterly Nominal GDP. Office for National Statistics provides Government Consumption Expenditure in local currency and Nominal GDP in local currency.


Related information about UK Public Consumption: % 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.
• For Nominal GDP contributions, Investment accounted for 18.2 % in Sep 2024.
• Private Consumption accounted for 62.8 % in Sep 2024.