ISA savers in their millions missing out on extra funds as 43bn in low interest accounts | Personal Finance | Finance [Video]

Nearly five million people are not making the most of their money as £43billion is currently sitting in low interest ISAs.

There are almost five million instant access cash ISA accounts held earning low rates in the UK with an average balance of over £8,500, analysis from Yorkshire Building Society and CACI suggests.

These ISAs are earning 1.50 percent or less and have an average balance of over £8,500.

The analysis is in addition to that research from earlier in the year that found almost £400billlion is being held in current and savings accounts earning one percent interest or less, meaning millions are losing out on additional income.

Research also completed by Yorkshire Building Society suggests that almost half (45 percent) of Brits stated if they were given £400 with no catches they would save the money.

Chris Irwin, director of savings at Yorkshire Building Society, said: “It’s surprising to see such a large amount sitting in low paying …